Preliminary Results 2024

‘Another outstanding performance’

Britvic plc Preliminary Results – 20 November 2024 for the year ended 30 September 2024 

Group Financial Headlines:

• Revenue increased 9.5%¹ to £1,899.0 million (statutory increased 8.6%), driven by both price/mix and volume
• Adjusted EBIT² increased 15.2%¹ to £250.9 million (statutory increased 14.9%), reported EBIT³ increased 12.6%¹
• Adjusted EBIT margin increased 60bps¹ to 13.2% (statutory increased 70bps)
• Adjusting EBIT items² net charge of £46.9 million, of which £38.7million was non-cash and £21.3 million related to the proposed Carlsberg transaction  
• Profit after tax increased 1.8%¹ (statutory increased 1.5%) to £125.8 million
• Adjusted earnings per share of 69.5p, increased 13.9%
• Adjusted net debt to EBITDA at 1.98x
• Full year dividend 34.5p, including a 25 pence per share dividend payable on completion of the acquisition of Britvic by Carlsberg 

Operational Highlights:

• Strong demand for portfolio of family favourite brands, including Pepsi, Tango, Lipton, MiWadi and Ballygowan
• Step-change performance in Brazil, with established and acquired brands in high double-digit revenue growth
• Successfully scaling our new growth brands, Plenish, Jimmy’s, Aqua Libra, and London Essence to build scale in fast-growing categories
• A 30.9%¹ increase in A&P spend to support long-term brand growth
• New growth capacity added across our markets with new lines in GB, Ireland and Brazil
• Continued focus on healthier people with great tasting low calorie drinks, with an average of only 21 calories per serve
• Promoting a healthier planet, through investment in decarbonisation and water stewardship programmes on completion of the acquisition of Britvic by Carlsberg 

1. Adjusted for constant currency.
2. Adjusting measures are defined and reconciled to reported measures on page 26. Total adjusting items were £48.0 million, of which £46.9 million are EBIT-related (year ended 30 September 2023: £36.9 million).
3. Reported measures include the effect of adjusting items 

Simon Litherland, Chief Executive Officer commented:

“We have delivered another excellent financial performance this year, with strong growth across our markets and portfolio of market-leading brands. We have also continued to ensure the business is fit for the future, adding more capacity, investing in our people and significantly increasing investment in marketing and innovation. I am extremely proud of what we have achieved, and I thank the entire Britvic team for their commitment and passion to deliver such a great result in a challenging environment. Subject to approval from the regulatory authorities, we anticipate that the acquisition by Carlsberg will complete in the first quarter of 2025. I am confident that the prospects for our brands and people are extremely positive, and I look forward to them going from strength to strength.”

For further information please contact:

There will be a recorded webcast of the presentation published at 9.30am by Simon Litherland (Chief Executive Officer) and Rebecca Napier (Chief Financial Officer). The webcast will be available at www.britvic.com/investors with a transcript available in due course.  

Read the full announcement