Kofola Ceskoslovensko As · PSECZ:KOFOL
Kofola Ceskoslovensko As — FY2025 Earnings Presentation
64 slides from Kofola Ceskoslovensko As's earnings presentation, Apr 23, 2026
Slide 1: Kofola Group Investor Presentation 12M 2025
12m 2025 23 april 20 26 KOFOLA GROUP INVESTOR PRESENTATION
Slide 2: Dear shareholders
Dear shareholders, In last year’s chairman’s statement, I wrote about the deteriorating consumer sentiment and concerns regarding the sugar tax in Slovakia. Unfortunately, throughout 2025, all these fears were realized. Customers bought less. A major factor in the decline in demand was, of course, t
Slide 3: Kofola Group
KOFOLA GROUP Is today one of the most important beverage producers in Central and Eastern Europe. CZK 10.75 bn (EUR 435 m) Revenue 12M 2025 CZK 1.82 bn (EUR 74 m) EBITDA 12M 2025 14 Production plants Headquarters Production plants 3,300+ Employees 21 CZK per share BoD proposal of dividend for 2025
Slide 4: Our roots are in Czechoslovakia
Our roots are in Czechoslovakia Production plants Offices Mnichovo Hradiště Moravský Beroun Agricultural sites Stráž nad Ohří Hanušovice Krnov Praha Slatiňany Ostrava Libina Jažlovice Nový Jičín Plzeň Přerov Rajecká Lesná Kláštor pod Znievom Košice České Budějovice Strážnice Banská Bystrica Bratisla
Slide 5: The Group's long-term ambition is to be the market leader
Sales in countries where Kofola Group the Group’s long-term ambition is number one or two in the soft drinks is to be the market leader market account for 89% of our total revenue. Czechia Slovakia Slovenia Croatia Soft drinks market position
Slide 6: Our beverage portfolio covers all categories
our beverage portfolio covers all categories Distributed Category Most important own brands and license brands Carbonated Beverages Waters Non-carbonated Beverages Syrups Fresh & Salad Bars Beers & Ciders Other
Slide 7: Long-term development
Long-term development Revenue* (CZKm) EBITDA* (CZKm) Excl. acquisitions EBITDA margin 16.7% 17.0% 16.7% 16.9% CAGR 14.9% 14.1% 14.4% 11,082 10,754 253 CAGR 15.2% 1,394 8,690 - 7,875 1,852 1,816 - 33 6,636 6,172 112 301 531 10,501 9,688 1,253 8,690 7,875 1,128 1,110 - 1,783 6,525 1,030 11 - 5,641
Slide 8: What's New
What’s New In January 2026, Kofola joined forces with Nobilis Tilia, which has become part of Kofola Group’s 'fragrant pillar'—the LEROS company. Kofola ČeskoSlovensko has acquired a 100% stake in Nobilis Tilia, a leading producer of purely natural cosmetics in Czech Republic, focused on high-qualit
Slide 9: How we think about our activities
H O W W E T H IN K A b o u t o u r a c t iv it ies Our Sustainability report is a part of the Annual report, which is available at our website.
Slide 10: Our mission
Our mission If you love nature and the people around you, there’s nothing to worry about. You’ll always find a way.
Slide 11: We believe in
Protection of water sources Waste utilization We believe in Local materials Smart packaging Environmentally friendly solution production processes
Slide 12: We strive to preserve water resources for future generations
we strive to preserve water resources for future generations In Rajecká Lesná and around Ondrášov, together with local authorities and farmers, we are creating BIO certified sites. We take care of nature wherever we are at home. In Slovakia, we established an organisation to support landscape revita
Slide 13: We look for direct sources of quality ingredients
we look for direct sources of quality ingredients, which we learn to grow ourselves We grow our own herbs We’re breaking into apple In 2023, we acquired a share and use them in our drinks. growing. We planted in the coffee plantations in We prefer local ingredients a special variety for Colombia, ga
Slide 14: Beverages are produced using modern technologies
beverages are produced using modern technologies that ensure quality and healthiness Thanks to High Pressure The filling of beverages on Pascalization, UGO juices the aseptic line takes place do not lose their colour, in a sterile environment. taste or vitamins and last As a result, no preservatives
Slide 15: Reduce-reuse-recycle approach to packaging
we take a reduce-reuse-recycle approach to packaging REDUCE We don’t pack 75 million draft We lighten pints at all. PET packaging. REUSE We prefer We use returnable reusable bottles and porcelain packaging. tableware in HoReCa. RECYCLE Thanks to deposit return We use We are co-owners of a PET system
Slide 16: Waste is not the end for us
Waste is not the end for us, but often the beginning The best waste is the waste Together with Biopekárna We give new life to old that does not happen. We use Zemanka, we can bake parasols. We can make reusable transport packaging healthy biscuits from the practical bags out of them.. as well as pal
Slide 17: We help gastro businesses do business more responsibly
We help gastro businesses do business more responsibly We love nature and the people around us, which is why we launched the project "We don't waste, we go green". We show catering establishments how to avoid wasting food, sort waste better, and save water and energy through small changes. Energy Wa
Slide 18: Vision 2030
Vision 2030 New ways Healthy Sustainability products Support for localities Customer’s and agriculture first choice Independent Good and happy people householder
Slide 19: Kofola Group Results
KOFOLA GROUP RESULTS _- Ye
Slide 20: Kofola Group Key 12m 2025 financial indicators
Kofola Group Key 12m 2025 financial indicators * Revenue (CZKm) Revenue per main business segments (CZKm)** (3.0%) (7.5%) 10,754 11,082 6,848 6,334 12M25 12M24 (1.8%) 3.2% 14.8% 1,651 1,681 1,440 1,396 1,329 1,157 12M25 12M24 CzechoSlovakia Adriatic Beers & Ciders Fresh & Herbs EBITDA (CZKm) EBITDA
Slide 21: Kofola Group Key 4Q 2025 financial indicators
Kofola Group Key 4Q 2025 financial indicators * Revenue (CZKm) Revenue per main business segments (CZKm)** 0.9% 4Q25 4Q24 (0.8%) 2,584 2,606 1,631 1,619 (4.0%) (19.2%) 11.8% 293 304 276 340 384 343 4Q25 4Q24 CzechoSlovakia Adriatic Beers & Ciders Fresh & Herbs EBITDA (CZKm) EBITDA per main business
Slide 22: Revenue by product line
Revenue by product line Revenue QTD (CZKm)* (9.3%) (0.3%) 4Q25 4Q24 854 941 (7.1%) 600 602 (30.1%) 20.4% 47.2% (24.9%) 453 275 296 307 113 161 116 155 173 144 Carbonated beverages Waters Non-Carbonated Syrups Beers & Ciders Fresh&Salad bars Other beverages Revenue by product line YTD (CZKm) (6.8%) (
Slide 23: Revenue by countries
Revenue by countries Revenue QTD by countries (CZKm) 0.5% 4Q25 4Q24 1,396 1,389 5.5% 10.9% 670 635 (2.0%) (35.0%) (16.5%) 224 202 66 79 96 98 132 203 Czech Republic Slovakia Slovenia Croatia Poland Other Revenue YTD by countries (CZKm) (0.0%) 6,176 6,178 12M25 12M24 (8.1%) 2,325 2,531 (1.3%) (2.2%)
Slide 24: Key messages
Key messages * YTD results QTD results INNOVATIONS Group‘s revenue decreased by 328 Group‘s revenue decreased by 22 New own brand of fruit drinks and CZKm (3.0%). CZKm (0.9%). juices – Curiosa. Group‘s EBITDA lower by 35 CZKm Group‘s EBITDA higher by 153 CZKm New product in the form of DILMAH (1.9%)
Slide 25: Our business is healthy diversified
OUR BUSINESS is healthy diversified
Slide 26: Our business consists of four main segments
our business consists of four main segments CzechoSlovakia Adriatic Fresh & Herbs Beers & Ciders 26
Slide 27: Revenue QTD | Czechoslovakia
CzechoSlovakia Adriatic Fresh & Herbs Beers & Ciders Revenue qTD | Czechoslovakia CS Adriatic F&H B&C Revenue by packaging formats* (CZKm) Sales in litres (´000) At home On the go On premise 13% CZECHIA 4Q25 4Q24 Change On premise 4,993 4,994 (0.0%) 22% 1,581 On the go 12,468 12,645 (1.4%) 65% 1
Slide 28: Revenue YTD | Czechoslovakia
CzechoSlovakia Adriatic Fresh & Herbs Beers & Ciders Revenue YTD | Czechoslovakia CS Adriatic F&H B&C Revenue by packaging formats* (CZKm) Sales in litres (´000) At home On the go On premise 6,743 15% CZECHIA 12M25 12M24 Change 5,990 1,129 On premise 26,985 28,865 (6.5%) 1,109 25% On the go 61,3
Slide 29: Revenue and EBITDA | Czechoslovakia
CzechoSlovakia Adriatic Fresh & Herbs Beers & Ciders Revenue and EBITDA | Czechoslovakia CS Adriatic F&H B&C Adjusted EBITDA (CZKm) Long-term view | Adjusted EBITDA (CZKm) EBITDA EBITDA margin Revenue EBITDA EBITDA margin 19.6% 19.6% 25.6% 19.6% 17.0% 15.5% 17.0% 13.9% 15.1% 1,240 6,848 1,165 6,209
Slide 30: Revenue QTD | Adriatic
CzechoSlovakia Radenska Adriatic Adriatic Fresh & Herbs Beers & Ciders Revenue qTD | ADRIATIC CS Adriatic F&H B&C Revenue by packaging formats* (CZKm) Sales in litres (´000) At home On the go On premise 281 SLOVENIA 4Q25 4Q24 Change 268 28% On premise 3,994 4,121 (3.1%) 45% 71 On the go 3,356 3,
Slide 31: Revenue YTD | Adriatic
CzechoSlovakia Radenska Adriatic Adriatic Fresh & Herbs Beers & Ciders Revenue YTD | ADRIATIC CS Adriatic F&H B&C Revenue by packaging formats* (CZKm) Sales in litres (´000) At home On the go On premise 1,617 SLOVENIA 12M25 12M24 Change 1,566 26% On premise 18,893 19,017 (0.7%) 400 47% 404 On the
Slide 32: Revenue and EBITDA | Adriatic
CzechoSlovakia Radenska Adriatic Adriatic Fresh & Herbs Beers & Ciders Revenue and EBITDA | ADRIATIC CS Adriatic F&H B&C Adjusted EBITDA (CZKm) Long-term view | Adjusted EBITDA (CZKm) Revenue EBITDA EBITDA margin EBITDA EBITDA margin 15.9% 15.4% 14.4% 13.5% 12.9% 15.4% 15.9% 1,681 1,651 268 1,513 25
Slide 33: Fresh & Herbs | UGO
CzechoSlovakia Adriatic Fresh & Herbs Beers & Ciders Fresh & Herbs* | UGO €22.3M CS Adriatic F&H B&C Revenue (CZKm) Stores split €3.8M Fresh bars & Salad bars Franchise Own Bottles 739 Packaged food 73 631 2 Mladá 69 Boleslav 74 47% Karlovy Vary Hradec Králové 53% Current 64 Praha Opava 25 150+ Sala
Slide 34: Fresh & Herbs | LEROS and Premium Rosa
CzechoSlovakia Adriatic Fresh & Herbs Beers & Ciders Fresh & Herbs* | LEROS and Premium Rosa €22.3M CS Adriatic F&H B&C Revenue (CZKm) ** €3.8M Premium Rosa Leros Pragerovy sady 588 16 517 2 Producer of premium natural products such as syrups, Mladá Boleslav juices and jams. Karlovy Hradec Vary Král
Slide 35: Revenue and EBITDA | Fresh & Herbs
CzechoSlovakia Adriatic Tea,Fresh Herbs&and Herbs Fresh Beers & Ciders Revenue and EBITDA | Fresh & Herbs €22.3M CS Adriatic F&H B&C Adjusted EBITDA (CZKm) Long-term view | Adjusted EBITDA (CZKm) €3.8M EBITDA EBITDA margin Revenue EBITDA EBITDA margin 13.1% 10.9% 10.9% 12.4% 11.4% 2 12.4% 10.9% Mlad
Slide 36: Performance QTD | Beers & Ciders
CzechoSlovakia Radenska Adriatic Adriatic Fresh & Herbs Beers & Ciders performance QTD* | Beers & Ciders CS Adriatic F&H B&C Revenue by packaging formats (CZKm) Sales in litres (´000)** OnTrade OffTrade Export Breweries 4Q25 4Q24 Change 28% OnTrade 4,514 4,890 (7.7%) 35% 313 OffTrade 6,653 7,366
Slide 37: Performance YTD | Beers & Ciders
CzechoSlovakia Radenska Adriatic Adriatic Fresh & Herbs Beers & Ciders performance YTD* | Beers & Ciders CS Adriatic F&H B&C Revenue by packaging formats (CZKm)** Sales in litres (´000) OnTrade OffTrade Export Breweries 12M25 12M24 Change 28% OnTrade 23,924 26,774 (10.6%) 1,481 39% OffTrade 29,6
Slide 38: Consolidated financial performance indicators
Consolidated financial performance indicators
Slide 39: Selected financial performance indicators
Selected financial performance indicators CAPEX (CZKm) Working Capital (WC)* (CZKm) Free CF (CZKm) ROCE** 12M25 12M24 12M25 12M24 12M25 12M24 12M25 12M24 Adjusted Adjusted 1,816.4 1,851.0 1,055.8 1,176.9 EBITDA EBIT (46) Change of WC 30.8 (2.3) Total assets 11,538.3 10,873.1 (186) CAPEX (1,187.7) (8
Slide 40: Selected financial performance indicators: net debt
Selected financial performance indicators Net debt (CZKm) Net debt / LTM adjusted EBITDA Gross and net debt calculation (CZKm) Net debt / LTM adjusted EBITDA 31-12-25 31-12-24 Cap L/T bank loans 4,064.6 3,692.1 5,485 Long-term goal L/T lease liabilities 386.7 299.4 S/T bank loans 1,512.9 1,077.0 3,9
Slide 41: Packaging and sweeteners are two main cost drivers
packaging and sweeteners are two main cost drivers Group direct material costs* Packaging Sweeteners Other (e.g. concentrates, aromas) 18.7% 26.0% 22.0% 31.4% 52.0% 49.9% 2025 2024 * Excl. F&H and Breweries segment. 41
Slide 42: M&A
M&A
Slide 43: M&A Strategy | where we invest?
M&A Strategy | where we invest? Authentic healthy raw materials Extension of our portfolio Mineral water Strong love brands Synergies with current business Geographic expansion European countries up to 10 million inhabitants No. 1 or 2
Slide 44: Goals
goals
Slide 45: Goals 2026
Goals 2026 EBITDA CZK 1.8 – 1.9 bn Revenue development 10%* Max CAPEX (% of EBITDA) 45 - 50%** Dividend per share paid out in 2026 CZK 21 Net debt / EBITDA 3.0 * 10% revenue growth including new acquisitions. Goal for organic revenue growth for FY 2026 is 4%. ** The 2026 CAPEX goal – depending on ec
Slide 46: Revenue development
Revenue development Period Change 1Q 2026 vs 1Q 2025 – Value c. +14% 1Q 2026 vs 1Q 2025 – Volume c. +8% 46
Slide 47: More about Kofola
More about kofola
Slide 48: Our work is also appreciated by our surroundings
our work is also appreciated by our surroundings PR LEMUR Awards Randstad Award Kofola received the highest award, GRAND Kofola ČeskoSlovensko ranked 1st in the PRIX Golden Lemur, for its flood FMCG industry category in the Randstad communication campaign "Let’s Bring the Award for the best employer
Slide 49: We maintain a family spirit across 6 countries on 2 continents
We maintain a family spirit even though we have activities in 6 countries on 2 continents Czechia 1993 Slovakia 1998 Poland 2008 Slovenia 2015 Croatia 2016 Colombia 2023 Panama 2025
Slide 50: We are not afraid to enter new segments
we are not afraid to enter new segments and learn new things 1990 2000 2010 2020 1993 Soft drinks 2003 HoReCa 2012 Fresh bars 2014 Salad bars 2018 Tea and herbs 2019 Coffee 2020 Ciders 2022 Herbal cosmetics 2023 Marketplace Supplo 2024 Vending machines 2024 Beer 2026 Cosmetics
Slide 51: We seek and utilize opportunities around us
We seek and utilize opportunities around us Overview of key acquisitions 2000 2010 2020 2002 2012 2020 2014 2021 2015 Apple plantations 2008 2023 Coffee plantations 2016 2024 2017 2018 2011 2025 2019 2026
Slide 52: What we have achieved in the last three years
What we have achieved in the last three years 2023 2024 2025 Through acquisitions, we We introduced our own new have entered two new brand of fruit juices and nectars, segments: brewing and Curiosa. vending machines. In addition to herbs, we are also learning how to grow We have launched the apples
Slide 53: Stable ownership structure
stable ownership structure allows us to focus on the 67.22% Lykos alfa a.s. development of the Group Majority shares in hands of: 27.27% Free float (others) Jannis Samaras Currently 6.1 million shares at Prague Stock Exchange. Niky and René Sommer Radenska 4.48% d.o.o. René Musila Free float Tomáš J
Slide 54: Shares owned by key management persons
Shares owned by key management persons Development in years by type of transaction Increase Decrease 26,844 229,367 36,997 6,503 16,542 37,884 6,486 23,265 22,615 19,064 3,861 22,321 9,109 12,235 15,059 18,709 20,403 20,215 * Entitlement from Option scheme. 54
Slide 55: Kofola listed on PSE
Kofola listed on PSE Earnings per share (CZK) Dividends per share (CZK) Dividend policy EPS P/E Approximately CZK 300 million in each financial 27 29 25 18 16 16 21.00 21.00 year. Subject on sufficient funds being available for distribution (distributable resources) without 13.50 13.50 13.50 13.50 j
Slide 56: Appendix
appendix
Slide 57: Results of Kofola Group | 12M 2025
Results of Kofola Group | 12M 2025 Reconciliation of reported and adjusted results (CZKm) Reported One-offs Adjusted One-offs Revenue 10,754.3 - 10,754.3 Insurance compensation connected to floods of CZK 39.8 million (CzechoSlovakia segment and Cost of sales (5,675.0) - (5,675.0) Fresh & Herbs segme
Slide 58: Group Results Comparison 12M
Group Results Comparison 12M * (CZKm) 12M25 12M24 Change Change (%) Comments Revenue 10,754.3 11,082.0 (327.7) (3.0%) The decrease in Group revenue was primarily driven by regulatory changes, Cost of sales (5,675.0) (6,037.1) 362.1 (6.0%) specifically the introduction of the sugar tax in Slovakia an
Slide 59: Group Results Comparison 4Q
Group Results Comparison 4Q * (CZKm) 4Q25 4Q24 Change Change (%) Comments Revenue 2,584.0 2,606.3 (22.2) (0.9%) The sold volume decreased by 6.2% in CS and Adriatic segment. At home formats were Cost of sales (1,418.2) (1,523.2) 105.0 6.9% impacted the most. Beers & Ciders segment decreased by 18.6%
Slide 60: Consolidated Income Statement
Consolidated Income Statement* (CZKm) 2025** 2024** 2023** 2022** 2021** 2020** Revenue 10,754.3 11,082.0 8,690.1 7,875.3 6,636.2 6,171.5 Cost of sales (5,675.0) (6,037.1) (4,802.7) (4,564.0) (3,710.2) (3,349.5) Gross profit 5,079.3 5,044.9 3,887.4 3,311.3 2,926.0 2,822.0 Selling, marketing and dist
Slide 61: Consolidated statement of financial position
Consolidated statement of financial position (CZKm) 31.12.2025* 31.12.2024* 31.12.2023* 31.12.2022* 31.12.2021* 31.12.2020* Non-current assets 8,476.4 7,246.1 5,130.3 5,089.0 5,306.3 5,683.6 Current assets 3,061.9 3,626.9 2,897.3 2,414.4 1,929.2 1,853.7 Total assets 11,538.3 10,873.0 8,027.6 7,503.4
Slide 62: Consolidated statement of cash flows
Consolidated statement of cash flows (CZKm) 2025* 2024* 2023* 2022* 2021* 2020* Net cash flows from operating activities 1,216.9 1,676.1 1,484.7 922.8 1,142.0 785.0 Net cash flows from investing activities (1,872.1) (2,335.8) (396.1) (382.2) (230.5) (1,349.3) Net cash flows from financing activities
Slide 63: Contact
Contact Should you have any question related to Kofola Group do not hesitate to contact our investor relations office: Jiří Rypar investor@kofola.cz + 420 737 118 957 http://investor.kofola.cz/en Kofola ČeskoSlovensko a.s. Nad Porubkou 2278/31a 708 00 Ostrava – Poruba Czech Republic
Slide 64: Authorization and Disclaimer
Authorization This presentation has been authorized by the Board of Directors of Kofola ČeskoSlovensko a.s. on 23 April 2026. This presentation (“the Presentation”) has been prepared by Kofola reliability of the information contained in this Presentation. Neither the ČeskoSlovensko a.s. (“the Compan
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