Kofola CeskoSlovensko (KOFOL) investor relations material

Executive summary

• Revenue for Q1 2026 increased by 13.7% year-over-year to CZK 2.38 billion, with 6.1% organic growth and 7.6% from acquisitions, confirming a positive trend and strong performance across key markets.

• EBITDA rose 15.2% to CZK 187.4 million, driven by higher volumes, improved gross margin, and cost-saving measures.

• Net loss widened to CZK -122.3 million, impacted by negative FX effects and higher interest expenses.

• Product innovations in non-alcoholic beverages and healthy food, along with expansion in UGO and new product launches, contributed to growth.

• The group remains a market leader in Central and Eastern Europe, with 94% of revenue from countries where it holds a top-two market position.

Financial highlights

• Revenue increased by CZK 287 million (13.7%) year-over-year, with Czech Republic up nearly 3% and Slovakia up 64% due to acquisitions.

• EBITDA margin was 7.9% (vs. 7.8% in 3M25), with gross margin improving to 43.4% from 41.2% year-over-year.

• Administrative costs rose by 66.8%, mainly from acquisitions and higher personnel expenses.

• Input costs for sweeteners and PET decreased, supporting margin improvement, while energy and raw material costs rose due to geopolitical tensions.

• Beer segment volumes declined by approximately 6.5% year-over-year, mainly due to lost exports to Eastern Europe and Russia.

Outlook and guidance

• FY 2026 EBITDA guidance is CZK 1.8–1.9 billion, with organic revenue growth targeted at 4% and total revenue growth at 10%.

• CAPEX for 2026 expected at 45–50% of EBITDA, with mitigation plans for cost pressures.

• Management expects stabilization of raw material and energy costs, but further price increases may be necessary if Middle East conflict persists.

• Dividend proposal for 2025 is CZK 21 per share.

• Macroeconomic pressures from geopolitical instability and supply chain issues anticipated in Q2 and Q3 2026.