Rotterdam, the Netherlands - 16 August 2018. Refresco publishes second quarter and half year 2018 results of Sunshine Top B.V., the entity owning Refresco Group B.V.
Q2 2018 Highlights
- Total volume was 3,040 million liters (Q2 2017: 2,052 million liters).
- Gross profit margin per liter was 14.1 euro cents (Q2 2017: 13.4 euro cents).
- Adjusted EBITDA amounted to €99 million (Q2 2017: €66 million).
- Integration of Cott's bottling activities is well on track.
- Issuing of €445 million of Senior Notes due 2026.
| In millions of €, unless stated otherwise (unaudited) | Q2 2018 | Q2 2017 | YTD 2018 | YTD 2017 |
| Volume (millions of liters) | 3,040 | 2,052 | 5,313 | 3,726 |
| Revenue | 1,037 | 643 | 1,810 | 1,166 |
| Gross profit margin | 428 | 275 | 755 | 511 |
| Gross profit margin per liter (euro cents) | 14.1 | 13.4 | 14.2 | 13.7 |
| EBITDA | 44 | 65 | 78 | 102 |
| Adjusted EBITDA | 99 | 66 | 143 | 103 |
| Net profit / (loss) | (24) | 27 | (64) | 33 |
| Adjusted net profit / (loss) | 15 | 27 | 17 | 33 |
| Net debt | 2,436 | 621 |
CEO Refresco, Hans Roelofs commented:
"A significant event in the second quarter was the start of the integration of Cott's bottling business in the UK, following approval by the UK Competition and Markets Authority on March 29. Progress to date includes integration of Cott's bottling activities into the Refresco governance structure and set up of new leadership and commercial teams.
We have made good progress on procurement of raw materials and packaging, where we are drawing on our scale, global purchasing expertise and local market knowledge to redefine specifications, better tailor our proposition to the market, and save money.
We see ample opportunities to grow with customers on the back of our enhanced geographical presence in both continents. Cash flows from operating activities remain strong while one-off acquisition costs and re-financing costs impacted our net results."
Please open the link below for the press release.
1. The YTD 2018 financial information comprises the financial information of Refresco Group N.V. for the period 1 January 2018 - March 31, 2018 and the financial information of Sunshine Top B.V for the period April 1, 2018 - June 30, 2018. The YTD 2017 financial information relates to Refresco Group N.V. All values are rounded to the nearest million unless otherwise stated.
