Soft drink bottler Refresco has posted a 13.5% year-on-year volume growth, to 2,579 million litres, in the first quarter of its financial year.
Adjusted EBITDA for the period grew to €81 million from €44 million in the first-quarter of 2018.
Revenue for the period grew 19.7% year-on-year to €926 million in the quarter from €774 million in 2018.
Growth Drivers
Commenting on the results, chief executive, Hans Roelofs, said, "Our volume continued to develop favourably, driven by additional volume from the former Cott bottling business and organic growth."
"This reflects our 2018 investments in production capacity and the increased market demand, especially in contract manufacturing for our branded customers and non-alcoholic beverages in cans."
Outlook
The company has also confirmed that integration of Cott’s bottling business is on track both in North America and the UK.
"We expect to see the full benefits of the many organisational, operational and commercial projects that we’ve implemented over the past year flow into our results in 2019 and we confirm that we are on track to realise our synergy plan in full by mid-2020," Roelofs explained.
He added that the company has "embarked on a new journey to transform Refresco from a bottler to beverage solutions provider."
The company will also focus on innovation and sustainability.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
