Fevertree Drinks (FEVR) Trading update summary

Financial performance and trading update

• Adjusted revenue and EBITDA for FY25 are expected to be marginally ahead of market expectations, driven by strong H2 momentum and a 5% increase in brand revenue in H2 at constant currency.

• Full year adjusted revenue growth reached 4% at constant currency, reflecting strategic execution and robust market share.

• US revenue grew 6% at constant currency, supported by integration into Molson Coors' national distribution network and increased marketing investment.

• UK revenue declined 2%, but H2 saw improved trading, especially in the Off-Trade and premium soft drink range.

• Europe saw 2% growth, led by France and Benelux, while Rest of World revenue surged 22% due to strong performance in Australia, New Zealand, and Canada.

Capital allocation and share buyback

• A £100m share buyback was completed in 2025, with an additional £30m tranche set to begin in February 2026.

Strategic outlook and guidance

• Confident in meeting current 2026 market expectations, with a strong innovation pipeline and marketing campaigns planned.

• Focus remains on expanding beyond tonic into premium soft drinks, leveraging consumer trends toward moderation and premiumisation.