News and current reports

The beverage company had to remit almost half a billion Czech crowns in Slovakia under the newly introduced sugar tax. The tax required price increases, which affected consumption. The year’s results were not helped by the weather either, which was the worst for beverage makers in the last decade. As a result, Kofola did not meet its full-year EBITDA plan. The Kofola Group views the outlook for this year optimistically. Investments in warehousing facilities and production lines will improve efficiency. Announced acquisitions will also support growth.

The Kofola beverage group experienced a challenging year. According to preliminary results for 2025, it achieved operating profit (EBITDA) of CZK 1.79 billion. While its smaller divisions (UGO and LEROS) grew, the soft drinks segment and beer saw a decline.

“Compared with 2024, our revenues declined by 10% as a result of the introduction of the sugar tax in Slovakia. Customers stocked up already at the end of 2024 ahead of its effective date on 1 January 2025, which impacted results right at the beginning of the year. The sugar tax also increased prices for end consumers, which negatively affected consumer behaviour and purchasing in Slovakia. Lower revenues were also driven by unconvincing weather during last summer,” comments on the results of Kofola’s strongest pillar Daniel Buryš, CEO for the Czech Republic and Slovakia.

After ending its cooperation with the family-owned company Rauch, Kofola introduced its own fruit-drink and juice brand Curiosa and Dilmah Ice Tea. Both new launches performed well in the key on-trade (HoReCa) segment. The decline in revenues was visible in retail for carton (Tetra Pak) formats, which Kofola deliberately decided not to follow up on. Considerable attention last year was drawn to the premium lemonades and tonics brand Targa, which expanded its portfolio in 2025 with the Maracuja e Mandarino flavour. The launch was accompanied by a successful campaign with the slogan ‘Drive like Fittipaldi’.

2025 was not favourable for breweries either. “Revenues fell by just under 10% versus 2024, with virtually the entire decline attributable to exports. In the Czech Republic, we kept revenues at the 2024 level. Only the Zubr brand outperformed, and together with Holba it went through a successful rebranding. Demand declined across all beer formats; cans proved the most resilient,” says René Musila, Managing Director of the brewing division, Pivovary Zubr. Beer quality is consistently confirmed by expert awards – last year Zubr Gradus 12 won the main category of pale lagers in the České pivo 2025 tasting competition.

A dynamic market environment, regulatory changes and unstable weather. These three factors defined last year’s results in the Adriatic region. “The result in Slovenia is 2% lower than in 2024 and in Croatia 3% lower. Given the VAT increase in Slovenia in the first quarter and the consumer boycott of shops in Croatia, I consider this a great result. The impacts were mitigated by a robust economic rebound in the first half of the year, driven by an extended June heatwave,” explains Marián Šefčovič, CEO of Radenska Adriatic.

Radenska’s EBITDA performance was affected by rising personnel and other operating costs. “Nevertheless, we achieved significant strategic milestones, including the successful launch of Prager’s Kombucha and FunctionALL Collagen. We won the prestigious Red Dot award for the redesign of Oraketa, and the Valicon TOP25 ranking placed Radenska among the top three FMCG brands in Slovenia,” adds Šefčovič.

UGO achieved record-high gross revenues of almost CZK 1 billion last year. Its EBITDA exceeded both the plan and the previous year’s result. All divisions grew. “We opened our largest Salaterie to date in Prague 6 and returned with the Salaterie format to Slovakia as well – in Bratislava. Higher revenues were supported by successful seasonal offers introduced throughout the year. Overall productivity also increased thanks to the packaged-goods division. Salads, wraps and other ready-to-eat meals began to grow year-on-year in the second half of 2025,” explains Marek Farník, founder and CEO of UGO.

LEROS – the fragrant pillar of herbs and coffee – surpassed CZK 500 million in revenues for the first time. “Compared with 2019, that is more than double. In the coffee segment, the key investment for us is the new Lerostery roastery that we built in Strážnice, Moravia. And thanks to the new acquisition of Nobilis Tilia, which we announced at the beginning of this year, we will be able to focus even more on herbal cosmetics,” reveals Martin Mateáš, CEO of Leros. The only blemish on this fragrant pillar is Premium Rosa, whose key customer Biedronka dropped out in Poland.

Other major investment activities in 2025 included the construction of new warehousing facilities in Rajecká Lesná in Slovakia and in Mnichovo Hradiště in the Czech Republic. Both projects are expected to be completed in the first half of 2026 and should deliver the anticipated efficiencies in logistics and storage. In Slovenia, the group invested in completing a highly efficient can-filling line added in Radenci.

Martin Pisklák, the Kofola Group’s CFO, concludes the outlook for this year: “A significant part of last year’s result – despite missing expectations, the second-highest in history – was delivered by cost-saving measures. These cannot be repeated every year. This year, some of the saved costs will return, and even with revenue growth we estimate the outlook for 2026 at EBITDA of CZK 1.8 – 1.9 billion.”

Current report is available for download in the section Regulatory information.

The presentation is available for downloaded in the section Investor presentations.