Stable energy prices and internal cost discipline, as well as the increasing popularity of UGO fresh juices and healthy meals and LEROS herbal teas, contributed to the good result in the first quarter.
Despite increased energy and raw material costs, Kofola Group achieved an EBITDA operating profit of EUR 45.2 million. This was driven by growing sales in key channels, a record summer season, year-on-year growth in the on-the-go category, and the growing popularity of fresh juices and herbal teas. Kofola has thus confirmed its role as a major domestic producer that is able to achieve stable results thanks to effective management.
The Kofola Group has repeatedly confirmed that it can manage the crisis and maintain financial discipline even in difficult periods. Despite experiencing its strongest ever peak season sales, Kofola had to cope with huge increases in the prices of raw materials, packaging materials and energy. However, it reacted very flexibly and introduced cost-saving measures, which contributed to the fact that it now promises to meet its EBITDA target. The most difficult situation this year is in the Czech Republic and Slovakia, with the Adriatic region and the Group's subsidiaries LEROS and UGO helping to cope with the challenging period.
The positive trend in the development of Kofola Group's sales from the first quarter of the year also continued in the second quarter. Sales in this period exceeded expectations, growing by 23% year-on-year, and reaching CZK 3.717 billion in the first six months - CZK 763 million more than in the first six months of last year, and an all-time record. All parts of the Group experienced good growth: Kofola in the Czech Republic and Slovakia, companies in the Fresh&Herbs segment, and the Adriatic region. However, the high sales growth was accompanied by significantly increased costs, led by energy, material inputs, and salary costs. As a result, the Group's operating profit fell by 19% year-on-year in the second quarter. In view of this development, the Group's management refined its estimate of the annual EBITDA target to CZK 1.080 – 1.150 billion. It will also propose to the General Meeting a slight reduction in the dividend to CZK 11.30 per share.
The end of the pandemic measures and the opening of the market helped the Kofola Group to a significant year-on-year growth of 30% in sales for the first quarter to CZK 1,506 billion. The fact that this trend started at the beginning of the year and is stable is positive. Sales are matching and, in selected segments, even exceeding the pre-Covid sales of 2019. The Group has offset the significant increase in costs with financial discipline and a partial price increase, which have ensured that it continues to meet this year's financial plans. Based on the year to date, Kofola's management confirmed its original estimate for this year's operating EBITDA in the range of CZK 1,080 - 1,200 billion.
In its annual report this year, the Kofola Group confirmed the very good preliminary results published in February. The Group also successfully coped with a second year significantly impacted by the Covid-19 pandemic, with an operating EBITDA of CZK 1.128 billion, which means a year-on-year increase of almost CZK 100 million, exceeding the estimate, which was in the range of CZK 1.080-1.120 billion. This is the first time in history that operating profit has reached this level. Despite significant market constraints, especially in the first half of the year, the Group's sales grew by 7.5% year-on-year to CZK 6.636 billion.
To strengthen its development activities, the company's management is considering the sale of almost 5% of its shares.
Kofola Group has published its results for the third quarter of this year. Sales in this period grew by another CZK 34 million year-on-year, surpassing last year's record result by 1.6%. In the summer months, the Czech and Slovak markets as well as the Adriatic region performed well. The Adriatic region experienced a recovery thanks to the influx of tourists, who were missing last year due to pandemic measures in the region. Operating result EBITDA increased by CZK 81 million year-on-year in the first nine months of the year. As a result, Kofola's management has refined its full-year estimate to a range of CZK 1.08 - 1.12 billion and will propose a dividend payment at the November General Meeting.
Kofola Group published its financial results for the first quarter of this year after experiencing the biggest market limitation of the pandemic period. For the entire quarter, not only the key gastronomy segment was locked down, but impulse purchases were also limited for part of this period due to free movement between districts being prohibited in the Czech Republic. In comparison with the previous year, revenue fell by only 10.4%, with EBITDA lower by 23.4%, which, in the circumstances, was more than acceptable. For the time being, Kofola’s management affirms its original annual EBITDA guidance at 1.03 to 1.15 billion Czech crowns.
The Kofola Group has issued its annual report today, confirming preliminary results of 2020 published at the beginning of February. The results were beyond expectations, with 2020 EBITDA reaching 1.03 billion CZK and yearly revenues decreasing by only 3.7%, despite significant market limitations caused by the coronavirus situation. Management of the Kofola Group has confirmed its estimate of EBITDA operating profit for this year of between 1.03 – 1.15 billion CZK, based on this year´s development so far.
The Kofola Group slightly exceeded expectations at the end of 2020, despite significant limitations on the market during the last months of the year, due to the coronavirus pandemic. The value of EBITDA for 2020 reached, according to preliminary economic results, 39.0 million EUR. Annual revenue dropped compared to the previous year by 3.7%. One reason behind this relatively small revenue decrease is the successful acquisition of Ondrášovka and Korunní mineral waters, which contributed to growth in the retail market.
The Kofola Group improved the key economic indicators, with impressive results, especially in the CzechoSlovak segment, built on traditional brands. In the third quarter, it recorded revenues higher by 219.5 mCZK, EBITDA grew by 121.2 mCZK. This enabled Kofola to create a reserve for economic fluctuations connected to the second wave of the coronavirus pandemic.