REG - Fevertree Drinks PLC - Pre-close trading update

Fevertree DrinksAnnouncement

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RNS Number : 8094Q  Fevertree Drinks PLC  29 January 2026

Fever-Tree Drinks plc

"Excellent strategic progress in 2025 and expect to deliver a financial
performance

marginally ahead of market expectations."

 

Fever-Tree Drinks plc (the "Group"), the world's leading supplier of premium
carbonated mixers, today provides a pre-close trading update for the year
ended 31 December 2025.

 

Adjusted revenue(1) and adjusted EBITDA(2) for FY25 are expected to be
marginally ahead of current market expectations(3), based upon good momentum
in the second half which has resulted in Fever-Tree brand revenue increasing
by 5% in H2, and full year growth of 4% (both at constant currency). This
reflects continued delivery against the Group's strategic priorities and
ongoing strong market share performance. In the US, the transition into Molson
Coors' national distribution network is progressing to plan and, alongside an
upweighted marketing investment, will provide a strong platform for 2026.

 

Following the £100m share buyback programme undertaken during 2025, the
previously announced additional £30m share buyback tranche will commence in
February 2026.

 

 £m                                    FY25   FY24   % change  % change (CC)*

                                       £m     £m
   US                                  131.9  128.0  3%        6%
   UK                                  108.4  111.1  (2%)
   Europe Fever-Tree brand revenue     94.7   92.7   2%        2%
   ROW                                 37.7   32.2   17%       22%
 Total Adjusted Fever-Tree Revenue(1)  372.7  364.0  2%        4%

   GDP brand revenue                   2.6    4.5    (42%)     (43%)
 Total Adjusted Revenue                375.3  368.5  2%        3%

*Constant Currency (CC).

1. Adjusted Revenue is statutory reported revenue adjusted to bring US revenue
in line with invoiced sales to customers.

2. Adjusted EBITDA is earnings before interest, tax, depreciation,
amortisation, share-based payment charges, exceptional items and finance
costs. As disclosed in September 2025, the Company has not provided for
certain costs related to UK Extended Producer Responsibility levy, and
continues to engage with the Environment Agency on the same.

3. Company collated consensus FY25 adjusted revenue £372.4m and adjusted
EBITDA £44.4m. FY26 adjusted revenue consensus £409.4m (current range
£392.4m to £429.0m)) and adjusted EBITDA consensus £49.9m (current range
£43.7m to £53.8m)

2025 Highlights:

·    US revenue +6%*. The integration of Fever-Tree into Molson Coors'
national network of distributors has progressed well through the year, with
continued positive brand momentum.

·    UK revenue -2%. Trading notably improved in the second half, driven
by a robust Off-Trade performance with increasing momentum across the Group's
portfolio beyond tonic, particularly our premium soft drink range.

·    Europe revenue +2%*. Growth was led by a strong performance in France
and Benelux, as the Group continued to execute its strategy across the region.

·    ROW +22%* reflecting particularly strong growth in Australia, New
Zealand and Canada as well as some beneficial phasing of orders.

 

Outlook

We remain comfortable with current 2026 market expectations.

Tim Warrillow, CEO of Fever-Tree commented:

"We made excellent progress in 2025. Our partnership with Molson Coors in the
US is progressing well, and the momentum behind the brand is especially
encouraging, giving us confidence in the growing opportunity in our largest
market as execution moves beyond the transition phase.

Across all our markets, we are continuing to build momentum as we broaden
Fever-Tree beyond tonic, positioning the brand as not only the premium mixer
but also premium soft drink of choice. We are uniquely positioned to unlock
the growth opportunities afforded by the consumer trends towards moderation,
premiumisation and longer, lighter serves. With exciting marketing campaigns
and a strong innovation pipeline, delivered by our passionate team, I am
confident we will drive strong growth in 2026 and beyond."

Next Scheduled Announcement

The Group will announce its Preliminary Results on 24 March 2026.
 
For more information please contact:

Investor queries

Steve Nightingale, Investor Relations Director I
steve.nightingale@fever-tree.com (mailto:steve.nightingale@fever-tree.com) I
+44 (0)7951 849 564

Media queries

Oliver Winters, Director of Communications I oliver.winters@fever-tree.com
(mailto:oliver.winters@fever-tree.com) I +44 (0)770 332 9024

 

Nominated Advisor and Broker - Investec Bank plc

David Flin I +44 (0)20 7597 5970

Corporate Broker - Jefferies International Limited

Ed Matthews I +44 (0)20 7029 8000

Financial PR advisers - FGS Global

Faeth Birch +44 (0)7768 943 171; Anjali Unnikrishnan +44 (0) 7826 534 233

 

 

Notes to the Editors:

Fever-Tree is the world's leading supplier of premium carbonated mixers by
retail sales value, with distribution to over 95 countries worldwide. Based in
the UK, the brand was launched in 2005 to provide high quality mixers which
could cater to the growing demand for premium spirits, in particular gin, but
also increasingly for vodka, rum and whisky. The Company now sells a range of
carbonated mixers and soft drinks to hotels, restaurants, bars and cafes ("On
Trade") as well as a broad range of retail outlets ("Off Trade").

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