Soft drink bottler Refresco has reported a 13.1% growth in gross profit margin to €1.7 billion in its financial year 2019.
The group posted volume growth of 1.4% to 11,046 million litres during the fiscal year from 10,888 million litres in 2018.
Refresco CEO, Hans Roelofs, commented, "Throughout the year we consistently reported a higher gross profit margin, which we achieved through a shift towards higher-margin products, realized synergies from our acquisitions, and some favorable input costs."
The volume of contract manufacturing increased by 2.5% to 3,434 million litres in this period compared to the same period in the previous year.
Adjusted EBITDA increased to €448 million in 2019 from €323 million in the previous financial year.
Commenting on the company's outlook, Roelofs said, "Refresco has become stronger and more profitable. Our strategy and our capabilities have proven to be successful in 2019, and we will continue to pursue our 2025 ambitions going forward."
"The industry is changing more rapidly than ever before. Customers continue to require more complex solutions, with less time to market. In addition, the demand for transparency and sustainability across the entire value chain continues to increase," he added.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.