Business
FY24 Preliminary Results to 31 December 2024
FY24 Preliminary Results to 31 December 2024.
About this update from Fevertree Drinks Plc
[{"type":"text","content":"\n\n\nFevertree Drinks plc\n\nFY24 Preliminary Results to 31 December 2024\nFinancial Highlights\n· Fever-Tree brand revenue growth accelerated to 7%[1] in the second half to deliver 4%1 growth for the full year.\n· Strong US growth of 12%1, with value share gains across key categories, including Ginger Beer and Tonic.\n· Significant gross margin improvement of 540bps, resulting in a 66% increase in Adjusted EBITDA to £50.7 million, in-line with expectations.\n· Fever-Tree recognised £5.0 million in exceptional items in the period relating to the transition to the Molson Coors partnership.\n· Strong working capital improvement, contributing to £96 million net cash, a 60% increase year-on-year.\n· Recommending a final dividend of 11.12 pence per share, an increase of 2% year-on-year.\n· Extending the buyback programme by an additional £29 million, resulting in up to £100 million to be returned to shareholders over FY25.\n \n\n\n\n\n£m\n\n\nFY24\n\n\nFY23\n\n\nChange\n\n\nConstant currency change\n\n\n\n\nRevenue\n\n\n\n\n\n\n\n\n \n\n\n \n\n\n\n\n UK\n\n\n111.1\n\n\n114.8\n\n\n(3)%\n\n\n \n\n\n\n\n US\n\n\n128.0\n\n\n117.0\n\n\n9%\n\n\n12%\n\n\n\n\n Europe (Fever-Tree brand revenue)\n\n\n92.7\n\n\n94.6\n\n\n(2)%\n\n\n0%\n\n\n\n\n ROW\n\n\n32.2\n\n\n27.2\n\n\n19%\n\n\n22%\n\n\n\n\nTotal Fever-Tree revenue\n\n\n364.0\n\n\n353.6\n\n\n3%\n\n\n4%\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n \n\n\n\n\n GDP brand revenue\n\n\n4.5\n\n\n10.8\n\n\n \n\n\n \n\n\n\n\nTotal Group revenue\n\n\n368.5\n\n\n364.4\n\n\n1%\n\n\n3%\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n \n\n\n\n\nGross profit\n\n\n138.4\n\n\n117.0\n\n\n18%\n\n\n \n\n\n\n\nGross margin\n\n\n37.5%\n\n\n32.1%\n\n\n540bps\n\n\n \n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n \n\n\n\n\nAdjusted EBITDA[2]\n\n\n50.7\n\n\n30.5\n\n\n66%\n\n\n \n\n\n\n\nAdjusted EBITDA margin\n\n\n13.7%\n\n\n8.4%\n\n\n530bps\n\n\n \n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n \n\n\n\n\nDiluted EPS (pence per share)\n\n\n20.85\n\n\n13.18\n\n\n58%\n\n\n \n\n\n\n\nNormalised EPS (pence per share)\n\n\n28.01\n\n\n15.37\n\n\n82%\n\n\n \n\n\n\n\n \n\n\n\n\n\n\n\n\n ...