**Summary**
Fever-Tree Drinks plc, the leading global supplier of premium carbonated mixers, released a pre-close trading update for the year ended 31 December 2025, reporting financial performance marginally ahead of market expectations. The company achieved adjusted revenue of £375.3 million and adjusted EBITDA slightly <mark style="background-color:yellow">above</mark> consensus, driven by strong momentum in the second half of 2025. Key highlights include
1. **Revenue Growth**
**US**+6% (constant currency), supported by successful integration into Molson Coors distribution network and increased marketing investment.
**UK**-2%, with improved performance in H2 due to strong Off-Trade sales and growth in premium soft drinks.
**Europe**: +2%led by France and Benelux.
**Rest of World (ROW)**: +22%with notable growth in AustraliaNew Zealandand Canada.
2. **Strategic Progress**
Expansion beyond tonic to premium soft drinks, aligning with consumer trends toward moderation and premiumisation.
Strong innovation pipeline and marketing campaigns to drive future growth.
3. **Share Buyback**
Completed a £100m share buyback in 2025, with an additional £30m tranche starting in February 2026.
4. **Outlook**
Confident in meeting 2026 market expectations, with continued growth opportunities in the US and globally.
CEO Tim Warrillow emphasized the company’s strategic progress, particularly in the US, and its unique position to capitalize on consumer trends. Fever-Tree remains focused on driving strong growth in 2026 and beyond. Preliminary results will be announced on 24 March 2026.