Kofola expects 25 pct rise in sales this year

Kofola expects 25 pct rise in sales this year

Ostrava, North Moravia, April 11 (CTK) - Beverage group Kofola estimates that its sales will grow by about 25 percent this year compared to last year's Kc8.69bn, which was a yr/yr rise of 10.3 percent, and expects its EBITDA to reach Kc1.55bn up to Kc1.8bn compared to 2023's Kc1.25bn, Kofola told CTK today.

Kofola's annual report for 2023, released today, confirmed the preliminary results announced in February.

According to Kofola Group CEO Jannis Samaras, the 2023 results are more than good. "We have achieved this thanks to the tremendous commitment of our employees and the loyalty of our customers. We greatly appreciate this support and we have to thank them again," said Samaras.

Last year can be considered successful despite a decline in sales and rising raw material costs, according to the company. Despite a decline of 8.7 percent in litres sold on the key Czech and Slovak markets, sales grew by 10.1 percent yr/yr last year, it said.

In the Adriatic region, sales rose by 7.3 percent despite a 4.5 percent decline in litres sold, and EBITDA increased by almost 13 percent, Kofola Group CFO Martin Pisklak said. "We are even more pleased with the results in our fragrance segment (Fresh & Herbs), where sales grew by almost 18 percent and EBITDA doubled," he added.

The development in Q1 2024 was very positive, according to Pisklak. "Revenues are up 14 percent year on year, and litres sold are up by 7 percent. Energy prices are currently falling, as is the price of sugar or sweeteners," he said.

Kofola is one of Central Europe's leading soft drinks producers, with 11 production plants in five European markets and over 2,000 employees. Its product brands include Kofola, Rajec, Korunni, Ondrasovka, Klastorna Kalcia, Jupi, Vinea and Semtex. The group also includes the UGO fresh and salad bars, Czech herbal tea maker Leros, Slovenian company Radenska and Croatian mineral water producer Studenac.

This year, Kofola completed the purchase of a majority stake in Pivovary CZ Group, which produces the Holba, Zubr and Litovel beer brands, and a 49 percent stake in Mixa Vending, a company focused on the operation of beverage and food vending machines.

Kofola is majority owned by the Aetos company belonging to the Samaras family and other Kofola founders, Rene Musila and Tomas Jendrejek.

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