News and current reports
Kofola's annual report has confirmed very good results for last year with an operating EBITDA of CZK 1.11 billion.
13. 4. 2023
In its annual report, Kofola Group has confirmed the very good preliminary results published in February. The year 2022 was, for the third year in a row, very challenging. The rising cost of energy and key materials posed an additional challenge, but the Group coped even better than the market expected.
Rising energy and raw material costs were keenly felt by the Group, particularly in the key Czech and Slovakian market, where revenues grew by 18% year-on-year (in litres sold by 6%). Nevertheless, EBITDA fell by 7%.
In the Adriatic region we were again very successful, with sales up almost 15% (8% in litres sold). We also improved EBITDA by almost 3%.
We are even more pleased with the trend in our fragrance segment, Fresh & Herbs, where sales grew by 35% but EBITDA increased almost fourfold.
The overall result, with EBITDA for the entire Group down 1.6%, is thus more than satisfactory, given all the events of last year. This was achieved thanks to the enormous commitment of our employees and the loyalty of our customers. We very much appreciate their support and would once again like to express our thanks to them all.
The trend so far in the first three months of 2023 (which always has the smallest impact on annual EBITDA) is very positive. Sales are up 13% year-on-year, while the decline in litres sold, which must be viewed in the context of the current macroeconomic situation, is 8%. Energy prices are currently on a positive trajectory. The price of sugar is, unfortunately, in line with our expectations, i.e. twice what it was last year. We believe that the price of PET has already peaked.
We maintain our 2023 targets, published in February, with EBITDA between CZK 1.10 billion and CZK 1.25 billion and sales growth of 12%. We will probably narrow down the EBITDA target range when we publish our first-quarter results on 1 June.
The general meeting to approve the 2022 financial statements will be held in June. The exact date is to be announced.
Further information can be found in the section Reports and presentations.