Premium mixers brand Fever-Tree has reported a 23% increase in full-year revenue growth (+26% reported), with the business saying that it experienced 'strong' growth across all markets during 2021.
Even as the on-trade reopened, the group said that its off-trade business 'remained well ahead of 2019 levels', while it retained its leading position in the UK's retail mixer category, with 39.8% share.
Group revenue stood at £311 million (€369.4 million) for the year, up from £252.1 million (€298.3 million) the previous year.
In Europe, the group reported 'strong' off-trade sales and a 'positive return' to on-trade, while in the US, it saw 'significant off-trade momentum', becoming the number one ginger beer brand in retail, and finishing the year as the leading tonic brand.
'Increasing Presence And Popularity'
"Our growing momentum reflects the brand's increasing presence and popularity around the world, nowhere more so than the US where we finished the year as the No.1 tonic water brand by value at US retail," said Tim Warrillow, co-founder and CEO of Fever-Tree.
"This is a significant achievement and matches the position we have held in the UK, as well as several European markets, for a number of years."
The group is facing into a headwind of inflationary pressures, as it outlined in a trading update in January, with commodity prices increasing 'dramatically' in recent weeks due to the conflict in Ukraine.
This has created 'significant uncertainty' in relation to input costs, with the business saying that it expects to deliver an EBITDA range of between £63 million (€74.8 million) and £66 million (€78.4 million) in full-year 2022.
Increase In Input Costs
"Whilst the tragic situation in Ukraine has resulted in significant uncertainty in relation to our input costs in the short term, the long-term global opportunity for Fever-Tree remains substantial and we are as confident as ever in the brand's ability to capitalise on this," Warrillow added.
"We are excited by the growing interest in the long-mixed drink category from retailers, spirits brands and consumers, especially given the increasing focus on premium segments, which places Fever-Tree, as the largest global premium mixer brand, at the centre of these trends."
© 2022 European Supermarket Magazine – your source for the latest A-brand news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.