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12m 2024 21 May 2025 KOFOLA GROUP INVESTOR PRESENTATION
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Dear shareholders , Getting to the top is hard but staying there is even harder. I’ve opened with this old sports saying since its message will resound throughout this introduction. Why? Because in 2024, Kofola broke through to new heights in many ways, achieving outstanding results. But 2025 has brought serious challenges right from the start, and keeping this up won’t be easy. I won’t go into the figures — you’ll see plenty of them in the following pages. But there are five things from 2024 I’m especially proud of, and I’d like to draw your attention to them. In March, we completed the acquisition of the Zubr, Holba, and Litovel beer brands. We sent the best people available at Kofola to these breweries, where they invested enormous energy and effort. It’s great to know that the brewmasters and their teams are making top-quality beer — a solid platform for success. With the acquisition of MIXA VENDING, we have entered the food and beverage vending machine segment, a largely technology-driven line of business that is truly promising and where we can learn a lot. Meanwhile, our core beverage divisions in CzechoSlovakia and the Adriatic region are significantly closer to their pre-Covid profitability levels. This is incredibly important. We are now fully seeing the integration of Ondrášovka and Korunní, and we are bringing successful new products to the market, such as Targa Florio and Radenska Functional. The Fresh & Herbs segment continues to grow strongly. After years of investment, we are finally beginning to reap the rewards of our hard work. And both UGO and Leros still have plenty of potential. The devastating floods in September once again confirmed to me how incredibly flexible and resilient Kofola can be. Our completely flooded plant in Krnov was back in full operation within a month — all thanks to the tremendous efforts of our employees, who did an incredible job in the clean-up and renovation. I would like to say a big thanks to everyone who rolled up their sleeves and pitched in — I deeply appreciate how much they care about Kofola and how fully they put their hearts into their work. All of this is great news, but 2025 won’t be easy. Why do I say this? In Slovakia, a sugar tax was introduced right from January 1. It’s high, it doesn’t motivate producers to reduce sugar content, and its main effect is simply to raise product prices for end consumers. Therefore, we expect a fall in sales volumes of about 10% in Slovakia. It’s also unfair that other sweet products such as chocolates and confectionery are exempted from the tax. Meanwhile, similar trends look set to appear in the Czech Republic and Slovenia. Second, I can’t understand the delay in introducing a deposit system for plastic bottles in the Czech Republic. As beverage producers, we want to recycle our own packaging and reuse it for our own production. We don't want to have to bargain for it, as is the case in today’s system. We want consumers to return bottles to us so we can reprocess them. This places certain demands on consumers — explaining this to them and motivating them to do it is a challenge we will have to address. Finally, consumer sentiment has cooled since the beginning of the year. We see it across almost all segments, and from customer feedback, it seems the market as a whole is experiencing the same. Maybe it's the lingering impact of the turbulent past few years, maybe it’s just the effect of the bad winter weather — but it's definitely being felt in our sales. We are carefully analyzing this trend and preparing cost-side adjustments in response. Despite these challenges, I still believe we can achieve modest growth in 2025. As I wrote at the beginning: getting to the top is hard but staying there is even harder. Finally, let me repeat something I said last year — I want to thank everyone who pulled together with us in 2024: our employees, suppliers, customers, shareholders and consumers. We couldn't have done it without you. My thanks to you all. Jannis Samaras Chairman of the Board of Directors Kofola ČeskoSlovensko a.s.
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KOFOLA GROUP Is today one of the most important beverage producers in Central and Eastern Europe. CZK 11.08 bn (EUR 441.18 m) Revenue 12M 2024 CZK 1.85 bn (EUR 73.69 m) EBITDA 12M 2024 14 Production plants 3,300+ Employees Production plants Headquarters 21 CZK per share BoD proposal of dividend for 2024
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Our roots are in Czechoslovakia Production plants Offices Agricultural sites Stráž nad Ohří Plzeň Praha Mnichovo Hradiště Jažlovice Hanušovice Moravský Beroun Krnov Ostrava Rajecká Lesná Kláštor pod Znievom Bratislava Strážnice Košice Přerov LibinaSlatiňany Nový Jičín České Budějovice
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the Group’s long- term ambition is to be the market leader Czechia Slovakia Slovenia Croatia Soft drinks market position Sales in countries where Kofola Group is number one or two in the soft drinks market account for 88% of our total revenue.
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our beverage portfolio covers all categories Category Most important own brands Distributed and license brands Carbonated Beverages Waters Non-carbonated Beverages Syrups Beers & Ciders Other Fresh & Salad Bars
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7 Long- term development 6,343 5,641 6,525 7,875 8,690 9,688 67 530 112 0 0 1,394 6,410 6,172 6,636 7,875 8,690 11,082 2019 2020 2021 2022 2023 2024 Excl. acquisitions Revenue* (CZKm) 1,118 955 1,117 1,110 1,253 1,551 1 75 11 0 0 301 1,119 1,030 1,128 1,110 1,253 1,852 17.5% 16.7% 17.0% 14.1% 14.4% 16.7% 2019 2020 2021 2022 2023 2024 EBITDA margin EBITDA* (CZKm) Grey chart represents an acquisition effect between two subsequent periods. * Adjusted for one-offs. CAGR 13.4% CAGR 14.7%
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highlights 8 This year's Beats for Love will rewrite the festival's history and open up a whole new dimension to this iconic celebration of electronic music. And Kofola will be there. We have become an official partner of the festival, to which it will bring a number of new features and the Square of Love. There are few categories in the beverage market that do not feature the Kofola family in some way. In the area of fruit drinks and juices, it has collaborated in recent years with the Austrian company Rauch. Now it is coming up with its own brand, Curiosa, to spice up its portfolio of fruit drinks and juices. In the field of iced teas, it brings a new product in the form of DILMAH Ice Tea. SEMTEX is adding another addition to the EXTREM range. Once again, in collaboration with rapper Separ, a member of the Slovakian group DMS, we are introducing a new flavor that combines guarana and tangerine. It's taurine-free but packed with energy.
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HOW WE THINK About our activities Our Sustainability report is a part of the Annual report, which is available at our website.
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We believe in Protection of water sources Local materials Environmentally friendly production processes Smart packaging solution Waste utilization
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In Rajecká Lesná and around Ondrášov, together with local authorities and farmers, we are creating BIO certified sites. We take care of nature wherever we are at home. we strive to preserve water resources for future generations In Slovakia, we established an organisation to support landscape revitalisation and water conservation measures.
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we look for direct sources of quality ingredients, which we learn to grow ourselves We grow our own herbs and use them in our drinks. We prefer local ingredients from proven sources. We’re breaking into apple growing. We planted a special variety for F. H. Prager ciders. In 2023, we acquired a share in the coffee plantations in Colombia, gaining experience in coffee cultivation.
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beverages are produced using modern technologies that ensure quality and healthiness The filling of beverages on the aseptic line takes place in a sterile environment. As a result, no preservatives are needed for production. Also, the hot filling technology at temperatures of approximately 90 °C enables the production of preservative-free children’s drinks and syrups. Thanks to High Pressure Pascalization, UGO juices do not lose their colour, taste or vitamins and last fresh for up to six weeks.
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REDUCE we take a reduce- reuse- recycle approach to packaging We don’t pack 75 million draft pints at all. We lighten PET packaging. We prefer reusable packaging. We use returnable bottles and porcelain tableware in HoReCa. We use rPET. We are co-owners of a PET regranulate company. RECYCLE REUSE Thanks to deposit return systems we close the circular loop of PET bottles and cans.
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Waste is not the end for us, but often the beginning The best waste is the waste that does not happen. We use reusable transport packaging as well as pallets made from recycled mixed plastic. We give new life to old parasols. We can make practical bags out of them.. Together with Biopekárna Zemanka, we can bake healthy biscuits from the residue after production of fruit and vegetable juices.
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Vision 2030 New ways Sustainability Support for localities and agriculture Good householder Independent and happy people Customer’s first choice Healthy products
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KOFOLA GROUP RESULTS
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Kofola Group Key 4Q 2024 financial indicators * 18 2,606 2,070 4Q24 4Q23 Revenue (CZKm) Revenue per main business segments (CZKm)** EBITDA (CZKm) EBITDA per main business segments (CZKm) *Adjusted for one-offs. ** MIXA VENDING s.r.o. (49%) acquired in Jan 2024 was, based on management control, fully consolidated. In Q1, the company was included in business segment Other. Since Q2, the company was part of the CzechoSlovakia business segment. During the final audit as of 31 Dec 2024, it was decided that the company should be classified as a joint venture and the consolidation method was changed. The company is therefore consolidated using equity method. For that purpose, comparative data for respective quarters have been adjusted accordingly. 1,619 304 340 343 1,468 307 - 295 CzechoSlovakia Adriatic Beers & Ciders Fresh & Herbs 4Q24 4Q23 Profit/(loss) for the period (CZKm) 262 116 4Q24 4Q23 224 (23) 23 38 106 (27) - 37 CzechoSlovakia Adriatic Beers & Ciders Fresh & Herbs 4Q24 4Q23 (65) (61) 4Q24 4Q23 2,606 2,070 4Q24 4Q23 1,619 304 340 343 1,468 307 - 295 CzechoSlovakia Adriatic Beers & Ciders Fresh & Herbs 4Q24 4Q23
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Kofola Group Key 12M 2024 financial indicators * 19 11,082 8,690 12M24 12M23 Revenue (CZKm) Revenue per main business segments (CZKm) EBITDA (CZKm) EBITDA per main business segments (CZKm) *Adjusted for one-offs. 6,848 1,681 1,396 1,157 6,209 1,513 - 968 CzechoSlovakia Adriatic Beers & Ciders Fresh & Herbs 12M24 12M23 Profit/(loss) for the period (CZKm) 1,851 1,253 12M24 12M23 1,165 268 274 144 937 205 - 111 CzechoSlovakia Adriatic Beers & Ciders Fresh & Herbs 12M24 12M23 601 340 12M24 12M23 EBITDA Preliminary results published CZK 1.87 bn MIXA VENDING – change of consolidation method CZK (0.023) bn Other changes immaterial Final reported results CZK 1.85 bn Comparison with preliminary results
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Revenue by product line 20 Revenue YTD (CZKm) 941 602 161 155 207 144 396 846 600 168 137 - 126 193 Carbonated beverages Waters Non-Carbonated beverages Syrups Beers & Ciders Fresh bars & Salads Other 4Q24 4Q23 3,875 3,107 713 589 1,188 567 1,043 3,397 2,831 707 544 - 482 729 Carbonated beverages Waters Non-Carbonated beverages Syrups Beers & Ciders Fresh bars & Salads Other 12M24 12M23 Revenue QTD (CZKm)
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Revenue by countries 21 Revenue YTD (CZKm) 6,178 2,531 1,041 500 358 474 4,898 2,104 960 427 109 192 Czech Republic Slovakia Slovenia Croatia Poland Other 12M24 12M23 Revenue QTD (CZKm) 1,389 635 202 79 98 203 1,208 496 202 79 45 40 Czech Republic Slovakia Slovenia Croatia Poland Other 4Q24 4Q23
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22 Key messages * qTD results YTD results costs development Macroeconomics * Based on results adjusted for one-offs. Group‘s revenue increased by 2,391.9 CZKm (27,5%). Group‘s EBITDA higher by 597.6 CZKm (47.7%). Volumes higher by 6.5% (CS and Adriatic segment). All major costs developed according to expected trends. No direct effect of Ukraine crisis on the Group. No direct effect of ongoing tariff war. M&A In Jan 24, acquisition of Libina apple orchards. In Jan 24, 49% share in MIXA VENDING acquired. In Mar 24, Acquisition of Pivovary CZ Group and FONTÁNA PCZG. INNOVATIONS Group‘s revenue increased by 536.2 CZKm (25.9%). Group‘s EBITDA higher by 145.6 CZKm (125.1%). Volumes higher by 3.4% (CS and Adriatic segment) in 4Q24. New identity for F.H.Prager - new products, entry into foreign markets and doubled turnover. New own brand of fruit drinks and juices – Curiosa. New product in the form of DILMAH Ice Tea.
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OUR BUSINESS is healthy diversified
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24 our business consists of four main segments CzechoSlovakia Adriatic Fresh & Herbs Beers & Ciders
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CzechoSlovakia Adriatic Beers & CidersFresh & Herbs Revenue qTD | Czechoslovakia 25 Revenue by packaging formats* (CZKm) 11% 22% 67% 17% 16% 67% Sales in litres (´000) 1,060 961 309 280 212 209 1,581 1,450 4Q24 4Q23 At home On the go On premise CZECHIA 4Q24 4Q23 Change On premise 4,994 5,663 (11.8%) On the go 12,645 12,656 (0.1%) At home 81,308 84,754 (4.1)% Total 98,947 103,073 (4.0)% CS Adriatic F&H SLOVAKIA 4Q24 4Q23 Change On premise 5,025 4,878 3.0% On the go 5,375 4,498 19.5% At home 47,644 38,080 25.1% Total 58,044 47,456 22.3% * Excludes revenue from sales of services and material. At home – Syrups and drinks in 1.5l+ packaging. On premise – Drinks in KEGs and glass bottles. On the go – Drinks in cans and 1l- packaging. B&C
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CzechoSlovakia Adriatic Beers & CidersFresh & Herbs Revenue YTD | Czechoslovakia 26 Revenue by packaging formats* (CZKm) 14% 24% 62% 22% 20%58% Sales in litres (´000) 4,084 3,690 1,530 1,396 1,129 1,057 6,743 6,143 12M24 12M23 At home On the go On premise CZECHIA 12M24 12M23 Change On premise 28,865 29,583 (2.4%) On the go 63,636 61,458 3.5% At home 348,371 329,795 5.6% Total 440,872 420,836 4.8% CS Adriatic F&H SLOVAKIA 12M24 12M23 Change On premise 28,232 27,288 3.5% On the go 26,256 22,783 15.2% At home 170,807 150,578 13.4% Total 225,295 200,649 12.3% * Excludes revenue from sales of services and material. At home – Syrups and drinks in 1.5l+ packaging. On premise – Drinks in KEGs and glass bottles. On the go – Drinks in cans and 1l- packaging. B&C
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CzechoSlovakia Adriatic Beers & CidersFresh & Herbs Revenue and EBITDA | Czechoslovakia 27 CS Adriatic F&H B&C 224 106 1,165 938 13.9% 7.2% 17.0% 15.1% 4Q24 4Q23 12M24 12M23 EBITDA EBITDA margin 4,507 4,796 5,641 6,209 6,848 950 940 875 938 1,165 21.1% 19.6% 15.5% 15.1% 17.0% 2020 2021 2022 2023 2024 Revenue EBITDA EBITDA margin Adjusted EBITDA (CZKm) Long-term view | Adjusted EBITDA (CZKm)
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Radenska Adriatic Revenue qTD | ADRIATIC 28 Revenue by packaging formats* (CZKm) 27% 26% 47% 21% 21%58%141 146 69 65 71 75 281 286 4Q24 4Q23 At home On the go On premise Sales in litres (´000) SLOVENIA 4Q24 4Q23 Change On premise 4,121 4,116 0.1% On the go 3,271 3,081 6.2% At home 13,031 13,652 (4.5%) Total 20,423 20,849 (2.0)% CROATIA 4Q24 4Q23 Change On premise 1,418 1,695 (16.3%) On the go 1,150 1,022 12.5% At home 6,358 6,109 4.1% Total 8,926 8,826 1.1% CS Adriatic F&H * Excludes revenue from sales of services and material. At home – Syrups and drinks in 1.5l+ packaging. On premise – Drinks in KEGs and glass bottles. On the go – Drinks in cans and 1l- packaging. CzechoSlovakia Adriatic Beers & CidersFresh & Herbs B&C
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Radenska Adriatic Revenue YTD | ADRIATIC 29 Revenue by packaging formats* (CZKm) 25% 28% 47% 24% 22% 54%796 730 421 362 400 372 1,617 1,464 12M24 12M23 At home On the go On premise Sales in litres (´000) SLOVENIA 12M24 12M23 Change On premise 19,017 18,120 5.0% On the go 17,843 16,236 9.9% At home 66,666 66,327 0.5% Total 103,526 100,683 2.8% CROATIA 12M24 12M23 Change On premise 10,181 10,226 (0.4%) On the go 6,950 5,899 17.8% At home 37,774 36,204 4.3% Total 54,905 52,329 4.9% CS Adriatic F&H * Excludes revenue from sales of services and material. At home – Syrups and drinks in 1.5l+ packaging. On premise – Drinks in KEGs and glass bottles. On the go – Drinks in cans and 1l- packaging. CzechoSlovakia Adriatic Beers & CidersFresh & Herbs B&C
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Radenska Adriatic Revenue and EBITDA | ADRIATIC 30 Adjusted EBITDA (CZKm) 1,094 1,232 1,410 1,513 1,681 132 177 182 205 268 12.0% 14.4% 12.9% 13.5% 15.9% 2020 2021 2022 2023 2024 Revenue EBITDA EBITDA margin Long-term view | Adjusted EBITDA (CZKm) CS Adriatic F&H (23) (27) 268 205 (7.4%) (8.8%) 15.9% 13.5% 4Q24 4Q23 12M24 12M23 EBITDA EBITDA margin CzechoSlovakia Adriatic Beers & CidersFresh & Herbs B&C
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Marek Farník CEO In the group since 2012 €22.3M €3.8M 2 150+Praha Karlovy Vary Mladá Boleslav Kolín Hradec Králové Brno Olomouc Zlín Ostrava Pardubice Frýdek-Místek Opava Fresh & Herbs * | UGO 31 Revenue (CZKm) 126 108 493 406 13 15 64 55 17 18 74 75 156 141 631 536 4Q24 4Q23 12M24 12M23 Fresh bars & Salad bars Bottles Packaged food Stores split 22 Salad bars 37 Fresh bars 49%51% Franchise Own Current 67% 33% Target CzechoSlovakia Adriatic Beers & CidersFresh & Herbs CS Adriatic F&H B&C * Fresh & Herbs segment further includes PRAGEROVY SADY LIBINA (not disclosed separately in the presentation due to immateriality).
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Marek Farník CEO In the group since 2012 €22.3M €3.8M 2 150+Praha Karlovy Vary Mladá Boleslav Kolín Hradec Králové Brno Olomouc Zlín Ostrava Pardubice Frýdek-Místek Opava Fresh & Herbs* | LEROS and Premium Rosa 32 Revenue (CZKm) 66 52 200 130 116 102 317 302 182 154 517 432 4Q24 4Q23 12M24 12M23 Premium Rosa Leros Certified producer of medical-grade herbal teas with history dating back to 1954. Owner of the Trepallini and Café Reserva brands. Distributor of Dilmah teas. Producer of premium natural products such as syrups, juices and jams. CzechoSlovakia Adriatic Beers & CidersFresh & Herbs B&CCS Adriatic F&H * Fresh & Herbs segment further includes PRAGEROVY SADY LIBINA (not disclosed separately in the presentation due to immateriality).
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In the group since 2012 €22.3M €3.8M 2 150+ Tea, Herbs and Fresh Praha Karlovy Vary Mladá Boleslav Kolín Hradec Králové Brno Olomouc Zlín Ostrava Pardubice Frýdek-Místek Opava 33 Revenue and EBITDA | Fresh & Herbs 33 571 609 824 968 1,157 (50) 11.2 54 111 144 (8.7%) 1.8% 6.5% 11.4% 12.4% 2020 2021 2022 2023 2024 Revenue EBITDA EBITDA margin 37 38 144 111 10.9% 12.9% 12.4% 11.4% 4Q24 4Q23 12M24 12M23 EBITDA EBITDA margin Adjusted EBITDA (CZKm) Long-term view | Adjusted EBITDA (CZKm) CzechoSlovakia Adriatic Beers & CidersFresh & Herbs CS Adriatic F&H B&C
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Radenska Adriatic performance YTD * | Beers & Ciders 34 Revenue by packaging formats (CZKm) 65% 34% 1% 1,050 984 550 473 18 13 1,617 1,469 12M24 12M23 CZ brand Export Other Sales in litres (´000) Breweries 9M24 9M23 Change CZ Brand 53,680 50,450 6.4% Export 34,140 31,401 8.7% Other 1,020 730 39.7% Total 88,840 82,581 7.6% CS Adriatic F&H CzechoSlovakia Adriatic Beers & CidersFresh & Herbs B&C Adjusted EBITDA (CZKm) 292 269 18.8% 19.1% 0 50 100 150 200 250 300 350 400 450 12M24 12M23 EBITDA EBITDA margin * Data presented from 1 January 2024 to 31 December 2024 (not from acquisition date – 8 March 2024) due to comparability of total volumes with the same period in the prior year.
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Consolidated financial performance indicators
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Selected financial performance indicators 36 Free CF (CZKm) * Inventories + Trade and other receivables – Trade and other payables. Adjusted for items not representing working capital (e.g. derivatives). ** EBIT / (Total assets − Current liabilities − Cash and cash equivalents). ROCE** Better EBITDA. Higher CAPEX. Better EBIT and cash position resulting from good results. Increased current liabilities due to trade and other liabilities and bank credits and loans. 12M24 12M23 Adjusted EBITDA 1,851.0 1,253.4 Change of WC (2.3) 65.2 CAPEX (824.6) (417.1) Taxes paid (283.5) (83.6) Free CF 740.6 817.9 Cash bal. 1,230.0 1,071.1 CAPEX (CZKm) (186) (179) 12M24 12M23 Working Capital (WC)* (CZKm) INV: +236 CZKm. REC: +354 CZKm. PAY: (597) CZKm. 12M24 12M23 Adjusted EBIT 1,176.9 719.0 Total assets 11,021.0 8,027.6 Cash & CE 1,230.0 1,071.1 Current liabilities 4,143.1 2,807.0 ROCE 20.8% 17.3% (825) (417) 12M24 12M23
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37 Net debt (CZKm) Gross and net debt calculation (CZKm) 31-12-24 31-12-23 L/T bank loans 3,692.1 3,153.9 L/T lease liabilities 299.4 215.9 S/T bank loans 1,077.0 447.3 S/T lease liabilities 115.2 113.7 Gross debt 5,183.7 3,930.8 Cash (1,230.0) (1,071.1) Net debt 3,953.7 2,859.7 Net debt / adjusted LTM EBITDA 3,954 2,860 31-12-24 31-12-23 2.14× 2.28× 3.5× 2.0× 31-12-24 31-12-23 Net debt / LTM adjusted EBITDA Cap Selected financial performance indicators Change of Net debt / adjusted LTM EBITDA Decrease of Net debt / adjusted LTM EBITDA ratio is attributable mainly to better results.
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packaging and sweeteners are two main cost drivers 38 Group direct material costs* 49.9% 46.8% 31.4% 36.6% 18.7% 16.6% 2024 2023 Packaging Sweeteners Other (e.g. concentrates, aromas) * Excl. F&H and Breweries segment.
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M&A
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Strong love brands Synergies with current business Geographic expansion M&A Strategy | where we invest? No. 1 or 2 European countries up to 10 million inhabitants Authentic healthy raw materials Extension of our portfolio Mineral water
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goals
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42 Goals 2025 EBITDA CZK 1.9-2.0 bn Revenue growth 3% Max CAPEX (% of EBITDA) 60% Dividend per share ≥13.5 CZK Net debt / EBITDA 2.1
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43 Revenue development Period Change 1Q 2025 vs 1Q 2024 – Value 1Q 2025 vs 1Q 2024 – Volume c. (8%) c. (9%)
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Floods The Czech Republic was hit by severe floods in September 2024. Production plant in Krnov was the one hit the most by the floods together with new brewery locations Hanušovice and Litovel. Insurance compensation connected to floods amounts to CZK 174.9 million. This amount also includes CZK 50 million insurance compensation related to business interruption and also insurance compensations related to investments replacing damaged assets. Costs connected to floods posted as of 31 December 2024 amounts to CZK 108.2 million. The amount does not include financial impacts of business interruption, replacement of damaged assets or necessary investments as a result of the floods.
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More about kofola
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our work is also appreciated by our surroundings Kofola is the most trusted brand among carbonated soft drinks Once again Kofola was named the most trusted brand in the carbonated soft drinks category. Czech consumers rated nearly 900 brands in an independent survey. Brands are nominated on the basis of sales. This ensures that the awarded brands are truly strong and trustworthy. LEMUR PR Awards The Kláštorná Kalcia brand won three medals at the LEMUR PR Awards – two golds and one bronze. The jury appreciated not only the long-term reputation and brand-building efforts but also the PR project "Castle Index," thanks to which we presented the most challenging hikes to Czech castles in the media and drew attention to the need to replenish calcium during physical exercise. PIVEX Golden Cup competition The Zubr and Litovel breweries confirmed their exceptional quality at the 32nd edition of the PIVEX Golden Cup competition. The four-times-hopped ZUBR Grand became the absolute winner of the competition, also winning in the lager category. The breweries won several additional medals. Czech Beer Tasting Competition The breweries Zubr and Litovel from the Pivovary CZ Group have once again confirmed the quality of their beers by succeeding in the Czech Beer Tasting Competition, organized annually by the Czech Brewery and Maltster Association. The first place went to Zubr Gold in the draught beer category, while the bronze went to Litovel's non-alcoholic beer Cut Lemon.
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We maintain a family spirit even though we have activities in 6 countries on 2 continents Czechia 1993 Slovakia 1998 Poland 2008 Slovenia 2015 Croatia 2016 Colombia 2023
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20001990 2010 2020 we are not afraid to enter new segments and learn new things Soft drinks1993 HoReCa2003 Fresh bars2012 Salad bars2014 Tea and herbs2018 Coffee2019 Ciders2020 Vending machines2024 Beer2024 Marketplace Supplo2023 Herbal cosmetics2022
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We seek and utilize opportunities around us Overview of key acquisitions 2000 2010 2020 2002 2008 2011 2012 2014 2015 2016 2017 2018 2019 2020 2021 2023 Coffee plantations 2024 Apple plantations
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What we have achieved in the last three years We introduced the Cirkulka returnable bottle system. We started developing startup projects in our business incubator. After herbs, we also learn to grow apples and coffee. We have launched Kombucha – a healthy drink full of probiotic cultures. Through acquisitions, we entered two new segments – brewing and beverage vending machines. 2022 2023 2024
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stable ownership structure allows us to focus on the development of the Group Free float (others) Currently 6.1 million shares at Prague Stock Exchange. . 27.23 % 4.6 0% Radenska d.o.o. 67.22 % Lykos alfa a.s.* Majority shares in hands of: Jannis Samaras René Musila Tomáš Jendřejek Niky and René Sommer 0.95 % Free float (key management persons - excl. Lykos alfa owners) Currently 0.2 million shares at Prague Stock Exchange. RADENSKA is considering the sale of its whole shares (1,025,239 shares as of 31 December 2024). A decision of exact timing of such sale has not been taken yet, however, might occur shortly, subject to market conditions. Proceeds from the sale will be used to finance Group's growth opportunities. * Previously AETOS a.s. In August 2024, AETOS a.s. and its shareholders have initiated steps to restructure the ownership structure of the Group, which includes Kofola ČeskoSlovensko a.s. For this purpose, a company Lykos alfa a.s. was created. Regarding Kofola ČeskoSlovensko a.s., this restructuring does not represent a change, as the majority of voting rights in Kofola ČeskoSlovensko a.s. will remain under the control of the former shareholders of AETOS a.s. This means that there will be no change in the ownership or control of Kofola ČeskoSlovensko a.s., nor any other changes that could affect Kofola ČeskoSlovensko a.s.
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Shares owned by key management persons 52 Development in years by type of transaction 20,215 224,797 20,403 18,709 15,059 22,321 19,064 3,861 22,615 23,265 37,884 36,997 9,109 12,235 6,486 Increase Decrease * Entitlement from Option scheme
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Kofola listed on PSE 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 100 200 300 400 500 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 KOFOLA ČS PX 53 Market capitalization 8,738 CZKm Dividend yield (latest dividend to share price as at 31-12-24) 3.4% Average transaction volume 4,926 per day * Continuing operations, Adjusted. ** Largest impact on the index growth has a national energy provider. *** BoD proposal of dividend for 2024. 8.80 10.65 9.61 15.09 24.22 27 29 25 18 16 2020* 2021* 2022* 2023* 2024* EPS P/E Earnings per share (CZK) 13.50 11.30 13.50 13.50 21.00 2020 2021 2022 2023 2024*** Dividends per share (CZK) Dividend policy Approximately CZK 300 million in each financial year. Subject on sufficient funds being available for distribution (distributable resources) without jeopardizing the Company's financial stability. About sharesShare performance** (CZK) 1,275 246 1,546 304 24% 21%
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appendix
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Results of Kofola Group | 12M 2024 55 Reconciliation of reported and adjusted results (CZKm) Reported One-offs Adjusted Revenue 11,082.0 - 11,082.0 Cost of sales (6,037.1) - (6,037.1) Gross profit 5,044.9 - 5,044.9 Selling, marketing and distribution costs (3,201.0) - (3,201.0) Administrative costs (705.9) - (705.9) Other operating income/(costs), net 105.1 (66.2) 38.9 Operating profit/(loss) 1,243.1 (66.2) 1,176.9 Depreciation and amortisation 674.1 - 674.1 EBITDA 1,917.2 (66.2) 1,851.0 Finance income/(costs), net (315.8) - (315.8) Income tax (274.1) 14.0 (260.1) Profit/(loss) for the period 653.2 (52.2) 601.0 - attributable to shareholders of Kofola ČeskoSlovensko a.s. 597.9 (58.0) 539.9 One-offs Insurance compensation connected to floods of CZK 174.9 million (CzechoSlovakia segment and Fresh & Herbs segment). This amount also includes CZK 50 million insurance compensation related to business interruption and also insurance compensations related to investments replacing damaged assets. Net gain on sold items of Property, plant and equipment of CZK 30.5 million recognized in all business segments. Gain on bargain purchase of PRAGEROVY SADY LIBINA s.r.o. of CZK 4.2 million (CzechoSlovakia segment). Gain on leasing of CZK 1 million (Adriatic segment). Costs connected to floods of CZK 108.2 million (CzechoSlovakia segment, Fresh & Herbs and Beers & Ciders segments). The amount does not include financial impacts of business interruption, replacement of damaged assets or necessary investments as a result of the floods. Advisory costs of CZK 11.4 million (CzechoSlovakia segment). Litigation costs of CZK 6.8 million (Adriatic segment). Insurance and transaction costs of CZK 6.1 million (Beers & Ciders segment). Restructuring costs of CZK 6 million (Fresh & Herbs and Beers & Ciders segments). Fixed assets provision costs of CZK 5.6 million (CzechoSlovakia segment). Insurance gain of CZK 2.3 million (Adriatic segment). Software licence fee costs of CZK 2.2 million (Beers & Ciders segment). Cost of fixed assets write off of CZK 0.4 million (Beers & Ciders segment).
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Group Results Comparison 12M * 56 (CZKm) 12M24 12M23 Change Change (%) Revenue 11,082.0 8,690.1 2,391.9 27.5% Cost of sales (6,037.1) (4,802.7) (1,234.4) 25.7% Gross profit 5,044.9 3,887.4 1,157.5 29.8% Selling, marketing and distribution costs (3,201.0) (2,487.8) (713.2) 28.7% Administrative costs (705.9) (707.1) 1.2 (0.2%) Other operating income/(costs), net 38.9 26.5 12.4 46.8% Operating profit/(loss) 1,176.9 719.0 457.9 63.7% Depreciation and amortisation 674.1 534.4 139.7 26.1% EBITDA 1,851.0 1,253.4 597.6 47.7% Finance income/(costs), net (315.8) (265.3) (50.5) 19.0% Income tax (260.1) (113.7) (146.4) 128.8% Profit/(loss) for the period 601.0 340.0 261.0 76.8% - attributable to shareholders of Kofola ČeskoSlovensko a.s. 539.9 336.4 203.5 60.5% Comments * Adjusted for one-offs. Organic business growth is driven mainly by volume increase (in liters). Impact of newly acquired companies on revenue is 1,545 CZKm. Costs on sweeteners were lower (price effect of 240.8 CZKm). Energy costs increased by 61.0 CZKm, savings in PET (price effect of 68.5 CZKm). Gross margin increased from 44.7% to 45.5% as a result of decreasing input prices and increasing volumes. Higher Selling, marketing and distribution costs relate to newly acquired companies, higher transportation and marketing costs. EBITDA margin at 16.7% vs 14.4% in 12M23. Finance costs increase resulting from higher balance of loans, higher interest rates and revaluation of the bank credits and loans. Higher Income tax is a result of higher taxable profits in Group companies.
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Group Results Comparison 4Q* 57 (CZKm) 4Q24 4Q23 Change Change (%) Revenue 2,606.3 2,070.1 536.2 25.9% Cost of sales (1,523.2) (1,186.2) (337.0) 28.4% Gross profit 1,083.1 883.9 199.2 22.5% Selling, marketing and distribution costs (870.3) (640.8) (229.5) 35.8% Administrative costs (181.0) (260.6) 79.6 (30.5%) Other operating income/(costs), net 14.4 1.9 12.5 657.9% Operating profit/(loss) 46.2 (15.6) 61.8 396.2% Depreciation and amortisation 200.6 132.0 68.6 52.0% EBITDA 262.0 116.4 145.6 125.1% Finance income/(costs), net (74.4) (74.2) (0.2) 0.3% Income tax (36.5) 28.9 (65.4) (226.3%) Profit/(loss) for the period (64.7) (60.9) (3.8) (6.2%) - attributable to shareholders of Kofola ČeskoSlovensko a.s. (54.6) (64.2) 9.6 15.0% Comments * Adjusted for one-offs. Group results in 4Q24 are higher in comparison to 4Q23 mainly as a result of new business segment Beers & Ciders - revenue in 4Q24 in the total amount of 339.6 CZKm. Other FS lines are also influenced mainly by newly acquired companies within the Group during 2024.
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Consolidated Income Statement* 58 (CZKm) 2024** 2023** 2022** 2021** 2020** Revenue 11,082.0 8,690.1 7,875.3 6,636.2 6,171.5 Cost of sales (6,037.1) (4,802.7) (4,564.0) (3,710.2) (3,349.5) Gross profit 5,044.9 3,887.4 3,311.3 2,926.0 2,822.0 Selling, marketing and distribution costs (3,201.0) (2,487.8) (2,330.0) (2,033.6) (2,041.7) Administrative costs (705.9) (707.1) (466.5) (466.4) (425.7) Other operating income/(costs), net 38.9 26.5 17.8 93.0 55.6 Operating profit/(loss) 1,176.9 719.0 532.6 519.0 410.2 EBITDA 1,851.0 1,253.4 1,110.4 1,128.1 1,030.3 * Adjusted for one-offs. ** All Y/E periods audited.
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Consolidated statement of financial position 59* All Y/E periods audited. (CZKm) 31.12.2024* 31.12.2023* 31.12.2022* 31.12.2021* 31.12.2020* Non-current assets 7,246.1 5,130.3 5,089.0 5,306.3 5,683.6 Current assets 3,626.9 2,897.3 2,414.4 1,929.2 1,853.7 Total assets 10,873.0 8,027.6 7,503.4 7,235.5 7,537.3 Equity attributable to owners of Kofola ČeskoSlovensko a.s. 1,690.6 1,457.9 332.3 1,336.5 1,338.4 Equity attributable to non-controlling interests 333.4 - (44.7) (39.5) (31.2) Total equity 2,024.0 1,457.9 1,287.6 1,297.0 1,307.2 Non-current liabilities 4,740.0 3,762.7 3,664.0 3,436.0 3,993.3 Current liabilities 4,109.0 2,807.0 2,551.8 2,502.5 2,236.8 Total liabilities 8,849.0 6,569.8 6,215.8 5,938.5 6,230.1 Total liabilities and equity 10,873.0 8,027.6 7,503.4 7,235.5 7,537.3
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Consolidated statement of cash flows 60* All Y/E periods audited. (CZKm) 2024* 2023* 2022* 2021* 2020* Net cash flows from operating activities 1,676.1 1,484.7 922.8 1,142.0 785.0 Net cash flows from investing activities (2,335.8) (396.1) (382.2) (230.5) (1,349.3) Net cash flows from financing activities 809.7 (656.3) (296.3) (1,052.1) 325.0 Cash and cash equivalents at the beginning of the period 1,071.1 626.4 391.5 543.9 774.5 Effects of exchange rates changes on cash and cash equivalents 8.9 12.4 (9.3) (11.8) 8.6 Cash and cash equivalents at the end of the period 1,230.0 1,071.1 626.4 391.5 543.9
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Contact Should you have any question related to Kofola Group do not hesitate to contact our investor relations office: Jiří Rypar investor@kofola.cz + 420 737 118 957 http://investor.kofola.cz/en Kofola ČeskoSlovensko a.s. Nad Porubkou 2278/31a 708 00 Ostrava – Poruba Czech Republic
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Disclaimer This presentation (“the Presentation”) has been prepared by Kofola ČeskoSlovensko a.s. (“the Company”). The Company has prepared the Presentation with due care, however certain inconsistencies or omissions might have appeared in it. Information related to quarterly results is subject to limited procedures, balances as of 31 March and 30 September are provided for Net debt only. Therefore it is recommended that any person who intends to undertake any investment decision regarding any security issued by the Company or its subsidiaries shall only rely on information released as an official communication by the Company in accordance with the legal and regulatory provisions that are binding for the Company. It should be also noted that forward-looking statements, including statements relating to expectations regarding the future financial results give no guarantee or assurance that such results will be achieved. The Board of Directors’ expectations are based on present knowledge, awareness and/or views of the Company´s Board of Directors´ members and are dependent on a number of factors, which may cause that the actual results that will be achieved by the Company may differ materially from those discussed in the document. Many such factors are beyond the present knowledge, awareness and/or control of the Company, or cannot be predicted by it. No warranties or representations can be made as to the comprehensiveness or reliability of the information contained in this Presentation. Neither the Company nor its directors, managers, advisers or representatives of such persons shall bear any liability that might arise in connection with any use of this Presentation. Furthermore, no information contained herein constitutes an obligation or representation of the Company, its managers or directors, its shareholders, subsidiary undertakings, advisers or representatives of such persons. This Presentation was prepared for information purposes only and is neither a purchase or sale offer, nor a solicitation of an offer to purchase or sell any securities or financial instruments or an invitation to participate in any commercial venture. This Presentation is neither an offer nor an invitation to purchase or subscribe for any securities in any jurisdiction and no statements contained herein may serve as a basis for any agreement, commitment or investment decision, or may be relied upon in connection with any agreement, commitment or investment decision. Authorization This presentation has been authorized by the Board of Directors of Kofola ČeskoSlovensko a.s. on 21 May 2025.