Fever-Tree Drinks PLC released its preliminary financial results for the fiscal year ended December 31, 2024. The company reported a 4% year-over-year growth in brand revenue, with strong performance in the US market, resulting in a 12% revenue increase. The companys gross margin improved significantly by 540 basis points, leading to a 66% increase in Adjusted EBITDA to £50.7 million. Fever-Tree recognized £5.0 million in exceptional items related to the transition to the Molson Coors partnership. The companys net cash position improved by 60% year-on-year to £96 million. Fever-Tree is recommending a 2% increase in the final dividend and is extending the buyback program by an additional £29 million. The company expects strong revenue and EBITDA growth in the medium-term, with FY25 as a transition year for the US business.
| Metric | FY24 | FY23 | Change | Constant Currency Change |
|---|---|---|---|---|
| Revenue | £368.5M | £364.4M | 1% | 3% |
| Fever-Tree Brand Revenue | £364M | £353.6M | 3% | 4% |
| UK | £111.1M | £114.8M | (3%) | N/A |
| US | £128M | £117M | 9% | 12% |
| Europe (Fever-Tree Brand Revenue) | £92.7M | £94.6M | (2%) | 0% |
| ROW | £32.2M | £27.2M | 19% | 22% |
| Gross Profit | £138.4M | £117M | 18% | N/A |
| Gross Margin | 37.5% | 32.1% | 540bps | N/A |
| Adjusted EBITDA | £50.7M | £30.5M | 66% | N/A |
| Adjusted EBITDA Margin | 13.7% | 8.4% | 530bps | N/A |
| Diluted EPS (pence per share) | 20.85 | 13.18 | 58% | N/A |
| Normalised EPS (pence per share) | 28.01 | 15.37 | 82% | N/A |
| Ordinary Dividend (pence per share) | 16.97 | 16.64 | 2% | N/A |
| Net Cash | £96M | £59.9M | 60% | N/A |