Refresco : reports integrated Q1 2018 results

25 May, 2018

Integration of Cott's bottling activities on track

Rotterdam, the Netherlands - 25 May 2018. Refresco Group B.V. publishes first quarter 2018 results.

Q1 2018 Highlights

• Total volume was 2,273 million liters (Q1 2017: 1,674 million liters).

• Gross profit margin per liter was 14.4 euro cents (Q1 2017: 14.1 euro cents).

• Adjusted EBITDA amounted to €44 million (Q1 2017: €37 million).

Key figures^[1]

In millions of €, unless stated otherwise (unaudited)	Q1 2018	Q1 2017
Volume (millions of liters)	2,273	1,674
Revenue	774	524
Gross profit margin	327	236
Gross profit margin per liter (euro cents)	14.4	14.1
EBITDA	34	37
Adjusted EBITDA	44	37
Net profit / (loss)	(40)	6
Adjusted net profit / (loss)	1	6
Net debt	1,698	647

CEO Refresco, Hans Roelofs commented:

'A significant event in the first quarter was the completion of the acquisition of Cott's bottling business. By combining the two activities, our production volumes grew significantly in both North America and Europe. Cash flows from operating activities remained strong while one off acquisition and re-financing costs impacted our net results.

In terms of integration, we are pleased to report that the process of combining Refresco and Cott's bottling activities is off to a good start and we expect to complete this in the two year period ahead. Following the acquisition of Cott's bottling activities, and with new owners on board to fuel the next phase of our growth, we are in a prime position to build on our customer relationships and drive further consolidation in Europe and North America.'

Please open the link below for the press release.

1. All values are rounded to the nearest million unless otherwise stated.

Refresco reports integrated Q1 2018 results