Swiss Water Decaffeinated Coffee (SWP) investor relations material

Industry and market position

• Operates as a global leader in sustainable, specialty decaffeination for over 20 years, using a proprietary 100% chemical-free water process.

• Serves over 60 international markets, with strong volume growth in North America (+7% 3Y CAGR), Asia Pacific (+9%), and Europe/MEA (+17%).

• Maintains a diversified, blue-chip customer base, with top three customers accounting for about 35% of revenue.

• Decaf demand is rising, especially among younger demographics and specialty coffee consumers.

• Swiss Water is the only branded decaf coffee method, commanding a price premium and strong brand recognition.

Operations and process

• Utilizes a unique, multi-stage, chemical-free decaffeination process that preserves coffee certifications, including organic.

• Expanded decaffeination capacity with a new Delta, B.C. facility, operating 24/7, with two lines and a $125M capex.

• Warehouses ready-to-roast decaf coffees across North America and Europe for efficient logistics.

• Continuous improvement initiatives, including Six Sigma and lean manufacturing, drive margin and volume growth.

• Exploring new revenue streams such as caffeine capture and sale, with potential incremental adjusted EBITDA of $3–$5 million.

Financial performance

• Achieved strong revenue growth: $258.7M in 2025, up from $166.3M in 2023.

• Gross profit increased to $26.99M in 2025, with adjusted EBITDA of $11.3M.

• Q1 2026 revenue was $57.5M, with net income of $1.38M and adjusted EBITDA of $4.29M, both up significantly year-over-year.

• Multiple revenue streams: green coffee cost recovery, process revenue, and distribution revenue, all growing with processing volumes.

• Free cash flow supports debt reduction and operational growth, with minimal ongoing capex and a target debt/EBITDA ratio of 2–3x.