Fever-Tree, the world’s leading supplier of premium carbonated mixers for alcoholic spirits by retail sales value, has announced its Preliminary Results for the year ended 31 December 2014 showing a 49% increase in revenues and 48% increase in EBITDA.
Financial highlights
- Revenue up 49% to £34.7m (2013: £23.3m)
- Adjusted EBITDA up 48% to £10.0m (2013: £6.7m)
- Gross profit margin of 50.9% (2013: 51.0%)
- Adjusted operating cash flow conversion of 73% of adjusted EBITDA (2013: 75%)
- Strong balance sheet with net cash at year end of £3.3m
- Diluted EPS of 1.54 pence
- Final dividend of 0.30 pence per share recommended to shareholders
Operational highlights
- Successful AIM listing in November 2014 positioning the Group for its next stage of development and providing it with a strong platform for future growth
- Entry into 50th territory through launch in India
- Second production partner added to allow refillable bottles in Germany
Charles Rolls, Executive Deputy Chairman of Fever-Tree said:
“Fever-Tree’s organic growth continues to be driven by consumers’ desire to drink premium mixers that match the quality of their favourite premium spirits. Fever-Tree’s superior taste, ingredients and brand proposition is winning new converts in both old and new markets alike.
“We are confident that we will continue to be able to grow and lead in this premium segment, which we believe will outperform other drinks categories for some time to come as the natural ratio between premium spirits and premium mixers equilibrates.”
Tim Warrillow, CEO of Fever-Tree said:
“2014 was a notable year for Fever-Tree as we continued to strengthen our market share and reputation as the leading international premium mixer brand. We achieved a 49% increase in revenue and 48% increase in adjusted EBITDA. Encouragingly, growth came from all four of our international regions, illustrating the global appeal of the brand and was underpinned by strong margins and high cash conversion rates. We look forward to the year ahead with confidence.”
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