Fever-Tree Sees Revenue Up 40% In ‘Significant’ Year
Beverage firm Fever-Tree has announced a 40% increase in revenue in full-year 2018, to £237.4 million/€277.54 million.
The supplier of premium carbonated mixers also saw its adjusted EBITDA rise to £78.6 million/€91.89 million (2017: £58.7 million/€68.63 million), while profit after tax was £61.8 million/€72.25 million (2017: £45.5 million/€53.19 million).
The year saw the group take full control of its US operations, with Fever-Tree USA now directly managing marketing, sales and distribution in the region.
In addition, it saw gains across Continental Europe, as well as consolidating its position in the UK.
New-product launches, such as Cucumber Tonic and Citrus Tonic, also helped boost the business, the company reported.
“2018 was a significant year for Fever-Tree,” commented Tim Warrillow, its co-founder and CEO.
“In the UK, we strengthened our position as the leading mixer brand in the off-trade. In the US, we successfully established our own operations, and the business made real progress in deepening and widening its presence in multiple European regions,” added Warrillow.
“As the world's leading premium mixer brand with a strengthening global distribution network, we are well set to drive the international opportunity as the move towards the premium long mixed drink continues to gather momentum around the world,” he furthered.
Commenting on the year ahead, Warrillow said that, at this stage, trading is in line with board expectations, and the company remains “excited about the size of the opportunity that lies ahead”.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.