Fevertree Drinks Plc - Interim Results

Interim Results

·    Revenue up 13% to £117.3m (H1 2018: £104.2m)

·    Gross margin of 51.9% (H1 2018: 53.2%)

·    Adjusted EBITDA1 up 8% to £36.7m (H1 2018: £34.0m)

·    Net cash at period end of £104.1m (H1 2018: £56.4m)

·    Diluted EPS up 7% to 24.30 pence (H1 2018: 22.72 pence)

·    Interim dividend up 23% to 5.20 pence per share (H1 2018: 4.22 pence)

 

 

Operational Highlights:

 

·     Continued growth across all four regions

·     Strengthened our position as the no. 1 brand across the UK mixer category, driving growth in both the Off and On-Trade*

·     Very encouraging momentum in the US with notable national distribution gains in the first half of the year

·     Significant Off-Trade distribution wins secured in key European markets

·     Acceleration of growth in Australia and Canada, reflecting the Group's growing global footprint

·     Ongoing investment in marketing and capability to support our growth across all regions

 

* (IRI - Total UK Retail Mixer Market value share - 13 weeks to 16/6/19). (CGA - Packaged Mixers 52 weeks to 18/5/19))

 

Tim Warrillow, CEO of Fever-Tree said:

The move to long mixed drinks is gathering momentum and starting to win share from beer and wine. Our broad range of high-quality mixers, relationships with spirits companies, brand strength and our growing international distribution network provide us with confidence in the significant global opportunity that lies ahead for the Group.