Refresco, the independent beverage solutions provider for brands and retailers in Europe and North America, has reported gross profit margin of €538 million in the first quarter of its financial year, up from €477 million in the same period last year.
The total volume processed by Refresco in the quarter amounted to 3,220 million litres, compared to 2,782 million litres from the same period last year.
Adjusted EBITDA for the period amounted to €108 million.
Elsewhere, the acquisition of a production facility in Waco, Texas, formerly owned by The Coca-Cola Company, was completed on 28 January 2022.
On 1 February 2022, Refresco announced the completion of the strategic acquisition of Hansa-Heemann, a mineral water and CSD company in Germany.
Commenting on the results, Refresco CEO Hans Roelofs said, "We report a solid start of the year, in line with expectations and benefiting from the continued demand for beverage solutions by our customers across Europe and North America.
The company also noted that it is facing challenges due to significant increase in input costs, as well as inflationary impact on all variable costs.
Roelofs added, "We have taken various actions – including on pricing – to manage these challenges. The pressure on our margins in this first quarter is mainly due to a timing effect of the pricing actions we have executed with our customers.
"As we expect continued macroeconomic uncertainty and additional inflationary headwinds, we will continue to take appropriate action in order to create value for all our stakeholders."
© 2022 European Supermarket Magazine – your source for the latest packaging and design news. Article by Conor Farrelly. Click subscribe to sign up to ESM: European Supermarket Magazine.