News and current reports

The beverage group Kofola experienced a cold spring. Predictions of a drop in demand due to tax measures were confirmed, with the second quarter bringing in group revenues of CZK 2.97 billion, and the EBITDA indicator falling by 14.2%. Year-on-year revenue growth was recorded by subsidiaries Radenska Adriatic, LEROS, and UGO, all of which exceeded their targets.

In the Czechoslovak segment, the second quarter of 2025 saw the expected decline in sales. “The slightly lower sales were partly due to the slower arrival of the warmer spring months. The most notable drop was in the sales of sweetened beverages in Slovakia, caused by the introduction of a high excise tax,” explains Daniel Buryš, CEO of Kofola in the Czech Republic and Slovakia.

The trend of stabilizing costs of materials, raw ingredients, and energy continued. Kofola further developed and strengthened its brands and its full portfolio of non-alcoholic beverages. “In the HORECA segment, we successfully began distributing a new brand of fruit juices and drinks, Curiosa. At the same time, we developed exceptional Dilmah Ice Teas,” adds Daniel Buryš.

The cold spring also affected overall revenues in gastronomy. With the campaign Come for a Kofola, which highlighted the uniqueness of draft Kofola, the Czech family-owned company invited customers to visit restaurants and bars. The lemonade Targa and grape-based Vinea also received stronger marketing support.

From an investment perspective, Kofola has started building a new warehouse hall at its Mnichovo Hradiště plant, which is expected to bring future efficiencies in logistics and storage. Following last year’s acquisition of the vending company MIXA VENDING, this year Kofola announced the purchase of a 100% stake in ASO VENDING, the largest operator of coffee, snack, and beverage vending machines in Slovakia. The transaction, approved by Slovakia’s Antimonopoly Office in the third quarter, was finalized by Kofola on August 14.

Similarly, the cold spring impacted Czech breweries. “The decline in revenues was caused by poor weather, and export sales also fell. In the second quarter, no sales format performed well – declines were recorded in cans, glass bottles, and kegs. Overall, compared to last year, we are down 7.9% in sales, and at the EBITDA level we are 18.3% below last year,” says René Musila, CEO of Pivovary CZ Group.

A fresh breeze in brand development could come from marketing investments – after many years, the Holba and Zubr brands underwent a redesign, with Litovel also in preparation. “Zubr became the official beer of Oktagon MMA. As part of the partnership, in addition to being present at tournaments in the Czech Republic, we also launched a limited edition beer, Zubr Grand Oktagon. We believe this collaboration will bring us new customers and open further opportunities for export in the future,” explains Musila. Non-alcoholic beers continue to grow as a category. Pivovary CZ Group expanded its flavored non-alcoholic beer lineup with Zubr Yuzu, Holba Forest Raspberry, Litovel Mango & Lime, and Spritz Bitter Orange.

The fresh pillar of the group also continued its wave of success in the second quarter of this year. “UGO exceeded expectations in all key metrics, both in terms of revenue and contribution to EBITDA. Results were driven by product innovation, digitalization, and the opening of a new Salad Bar in Prague’s Dejvice district. UGO also met its revenue goals in the packaged products division,” says Marek Farník, CEO of UGO Trade.

For the fragrant pillar of the Kofola Group, LEROS, May to July is an off-season period when minimizing losses is crucial. “In the second quarter, we significantly outperformed expectations both in revenue and EBITDA. We also prepared well for the main season, which begins in August and continues through November, and stocked up sufficient inventory,” says Martin Mateáš, CEO of LEROS.

Radenska Adriatic recorded a solid year-on-year revenue increase of 3.2% in the first half of the year. “Growth was supported mainly by higher sales in Slovenia (+4%) and a 5% increase in export markets. We saw a sharp rise in demand and consumption, particularly in June, when the region was hit by a prolonged heatwave. However, this growth was not fully reflected in EBITDA, mainly due to higher operating costs related to increased brand investments and rising wage costs following adjustments to the minimum wage,” explains Marián Šefčovič, CEO of Radenska Adriatic.

With regard to its outlook, Kofola decided to revise its 2025 guidance, narrowing the range of expected EBITDA from CZK 1.9–2.0 billion to the lower end of that range. It still expects growth compared to 2024, when total EBITDA reached CZK 1.85 billion.

Further information can be found in the section Reports and presentations.