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IP - Investorská prezentace 3M25

Company: Kofola CescoSlovensko A.S. Date: 2025-06-18 Language: English Register to download
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3M 2025

10 JUNE 2025

KOFOLA GROUP INVESTOR PRESENTATION

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# KOFOLA GROUP

Is today one of the most important beverage producers in Central and Eastern Europe.

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CZK 2.09 bn Revenue 3M 2025

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CZK 162.7 m EBITDA 3M 2025

14 Production plants

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3,300+ Employees

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21 CZK per share BoD proposal of dividend for 2024

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Headquarters

Production

plants

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# OUR ROOTS ARE IN CZECHOSLOVAKIA

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Production plants

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# OUR BEVERAGE PORTFOLIO COMERS ALL CATEGORIES

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# LONG-TERM DEVELOPMENT

#### Revenue\* (CZKm)

■ Excl. acquisitions

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#### EBITDA\* (CZKm)

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# HIGHTS

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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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### OUR SUSTAINABILITY EFFORTS

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 STRIVE TO PRESERVE WATER RESOURCES FOR FUTURE GENERATIONS

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.

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In Slovakia, we established an organisation to support landscape revitalisation and water conservation measures.

### WE LOOK FOR DIRECT SOURCES OF QUALITY INGREDIENTS, WHICH WE LEARN TO GROW OURSELVES

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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.

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In 2023, we acquired a share in the coffee plantations in Colombia, gaining experience in coffee cultivation.

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### BEVERAGES ARE PRODUCEDIUS ING 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.

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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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### WASTE IS NOT THE END FOR US, BUT OFTEN THE BEGINNING

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The best waste is the waste that does not happen. We use reusable transport packaging as well as pallets made from recycled mixed plastic.

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Together with Biopekárna Zemanka, we can bake healthy biscuits from the residue after production of fruit and vegetable juices.

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We give new life to old parasols. We can make practical bags out of them..

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# KOFOLA GROUP KEY 3M 2025 FINANCIAL NDICATORS®

Revenue (CZKm)

EBITDA (CZKm)

2,093 2,051 3M25 3M24

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Profit/(loss) for the period (CZKm)

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#### \* Adjusted for one-offs.

് Sagreet Clarest Clarket Fill PEE La., Lorred in Description Production Contribution Scon (porceriyal Production of Political Part Portugal Compress Compress Compress Clair seament)

\*\* MIS IST No 400 minutes and in management corcult . In J. Le concept was individual inisties segment the Castoletalisticas segment Cleciliances segment Crimit Stress segmen was decided be compry south be assubtish method in a changed. The company is treetmen countilished with respective parties and the consection of the consection and increase

# REVENUE DEVELOPME

#### Revenue by product line YTD (czkm)

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#### Revenue by countries YTD (сzкm)

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# KEY MESSAGES

### ADRESULTS

- Group's revenue increased by 41.7 . CZKm (2.0%).
- Group's EBITDA lower by 95.6 CZKm (37.0%).
- Volumes lower by 9.3% (CS and Adriatic segment).

#### INNOVATIONS

- New own brand of fruit drinks and juices - Curiosa.
- New product in the form of DILMAH Ice Tea.

#### COSTS DEVELOPMENT

· All major costs developed according to expected trends.

### MACROECONOMICS

- · No direct effect of Ukraine crisis on the Group.
- · No direct effect of ongoing tariff war.

### M&A

- · In Jan 25, acquisition of Krondorf a.s.
- · In Mar 25, acquisition of Vending s.r.o.

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# BUSINESS SEGMENTS

### OUR BUSINESS IS HEALTHY DIVERSIFIED

### OUR BUSINESS CONSISTS OF FOUR MAIN SEGMENTS

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13%

# REVENUE YTD | CZECHOSLOVAKIA

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### Sales in litres ('000)

| CZECHIA    |   | 3M25   |               | 3M24 Change |
|------------|---|--------|---------------|-------------|
| On premise | ア | 5,012  | 5,433         | (7.7%)      |
| On the go  | 7 | 11.970 | 12,634        | (5.3%)      |
| At home    | ア | 71.303 | 72.911        | (2.2%)      |
| llotal     |   |        | 88,285 90,978 | (3.0%)      |

| SILOMAKITA |   |         |                 | 3M25 3M24 Change        |
|------------|---|---------|-----------------|-------------------------|
| On premise |   | > 4.184 | 4,372           | (4.3%)                  |
| On the go  | ﮧ | 4,385   | 4.957           | (11.5%)                 |
| At home    |   |         | > 23,300 33,629 | (30.7%)                 |
| l'otal     |   |         |                 | > 31,869 42,958 (25.8%) |

\* Excludes revenue from sales of services and material.

At home - Syrups and drinks in 1.51+ packaging. On premise - Drinks in KEGs and glass bottles. On the go - Drinks in cans and 11- packaging.

# REVENUE AND EBITDA | CZECHOSLOVAKIA

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### Revenue by packaging formats\* (CZKm)

REVENUE YTD | ADRIATIC

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#### Sales in litres ('000)

| SI OVENIA  |   |                 |        | 3M25 3M24 Change |
|------------|---|-----------------|--------|------------------|
| On premise | ﺮ | 3,776           | 3,871  | (2.5%)           |
| On the go  |   | > 3,189         | 3,339  | (4.5%)           |
| At home    |   | > 13.379        | 13.511 | (1.0%)           |
| l'otal     |   | > 20,344 20,721 |        | (1.8%)           |

| CROATIA    |   |       |       | 3M25 3M24 Change |
|------------|---|-------|-------|------------------|
| On premise | く | 1.097 | 1.050 | 4.5%             |
| On the qo  | ア | 1.177 | 939   | 25.3%            |
| At home    | ﮧ | 5,372 | 6,613 | (18.8%)          |
| l'otal     | ﺮ | 7,646 | 8,602 | (11.1%)          |

\* Excludes revenue from sales of services and material.

At home - Syrups and drinks in 1.5J+ packaging. On premise - Drinks in KEGs and glass bottles. On the go - Drinks in cans and 1- packaging.

### REVENUE AND EBITDAT ADRIATIC

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# FRESH & HERBS\* | UGO

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F&H

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\* Fresh & Herbs segment further includes PRAGEROVY SADY LIBINA (not disclosed separately in the presentation due to immateriality).

### FRESH & HERBS\* | LEROS AND PREMIUM ROSA

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Producer of premium natural products such as syrups, juices and jams.

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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.

\* Fresh & Herbs segment further includes PRAGEROVY SADY LIBINA (not disclosed separately in the presentation due to immateriality).

### REVENUE AND EBITDA | FRESH & HERBS

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Sales in litres ('000)

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### Revenue by packaging formats (czKm)

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Change

7,410

18,300

90

(7.4%)

(27.0%)

566,7%

(12,5%)

# CONSOLIDATED FINANCIAL PERFORMANCE INDICATORS

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# SELECTED FINANCIAL PERFORMANCE INDICATORS

| Net debt (CZKm) |                           | Net debt / adjusted LTM EBITDA |                       |                                                                                                                                                                          | Gross and net debt calculation (CZKm) |          |  |
|-----------------|---------------------------|--------------------------------|-----------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------|----------|--|
|                 |                           | Net debt / LTM<br>O            |                       |                                                                                                                                                                          | 31-03-25                              | 31-12-24 |  |
| 4,582           | adjusted EBITDA<br>…… Cap |                                |                       | L/T bank loans                                                                                                                                                           | 3,907.1                               | 3,692.1  |  |
|                 |                           |                                |                       | L/T lease liabilities                                                                                                                                                    | 317.1                                 | 299.4    |  |
|                 | 3,954                     |                                |                       | S/T bank loans                                                                                                                                                           | 737.7                                 | 1,077.0  |  |
|                 |                           | 3.5×                           | S/T lease liabilities | 125.9                                                                                                                                                                    | 115.2                                 |          |  |
|                 |                           |                                |                       | 5,087.8                                                                                                                                                                  | 5,183.7                               |          |  |
|                 |                           |                                | Cash                  | (506.0)                                                                                                                                                                  | (1,230.0)                             |          |  |
|                 |                           | 2.61×                          |                       | Net debt                                                                                                                                                                 | 4,581.8                               | 3,953.7  |  |
|                 |                           | O                              |                       |                                                                                                                                                                          |                                       |          |  |
|                 |                           | 2.14×                          |                       | Change of Net debt / adjusted LTM EBITDA                                                                                                                                 |                                       |          |  |
|                 |                           | 2.0×                           |                       | Increase of Net debt / adjusted LTM EBITDA<br>ratio is attributable mainly to decreasing<br>EBITDA and cash balance due to CAPEX and<br>aquisitions of the Kofola Group. |                                       |          |  |
| 31-03-25        | 31-12-24                  | 31-03-25                       | 31-12-24              |                                                                                                                                                                          |                                       |          |  |

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# M&A STRATEGY | WHERE WE INVEST?

 Mineral water Extension of our portfolio Authentic healthy raw materials TEROS CARD Geographic expansion Synergies with current business Strong love brands European countries up to 10 million inhabitants No. 1 or 2

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| CHOLAS                  | ● |                |  |  |
|-------------------------|---|----------------|--|--|
|                         |   |                |  |  |
|                         |   | 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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# REVENUE DEVELOPMENT

| Period                                      | Change  |
|---------------------------------------------|---------|
| April, May 2025 vs April, May 2024 - Value  | c. (7%) |
| April, May 2025 vs April, May 2024 - Volume | c. (7%) |

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### OUR WORK IS ALSO APPRECIATED BY OUR SURROUNDINGS

#### LEMUR PR Awards

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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.

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#### 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.

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#### 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.

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#### 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.

### WE MAINTAIN A FAMILY SPIRIT EVEN THOUGH WE HAVE ACTIVITIES IN 6 COUNTRIES ON 2 CONTINENTS

Czechia ( 1993

Slovakia (0) 1998

Poland 9 2008

Slovenia (2 2015

Croatia @ 2016

Colombia 9 2023

(2) kofola®

### WE ARE NOT AFRAID TO ENTER NEW SEGMENTS AND LEARN NEW THINGS

| 1990                | 2000<br>P     | > 2010 -           | > 2020                    |
|---------------------|---------------|--------------------|---------------------------|
| Soft drinks<br>1993 |               |                    |                           |
|                     | 2003   HoReCa |                    |                           |
|                     |               | Fresh bars<br>2012 |                           |
|                     |               | Salad bars<br>2014 |                           |
|                     |               | 5018               | Tea and herbs             |
|                     |               |                    | 2019<br>Coffee            |
|                     |               |                    | 2020 Ciders               |
|                     |               |                    | Herbal cosmetics<br>2022  |
|                     |               |                    | 2023   Marketplace Supplo |
|                     |               |                    | 2024   Vending machines   |
|                     |               |                    | 2024<br>Beer              |
|                     |               |                    |                           |

# WE SEEK AND UTILIZE OPPORTUNITIES AROUND US

Overview of key acquisitions

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# WHAT WE HAVE ACHIEVED IN THE LAST THREE YEARS

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We introduced the Cirkulka returnable bottle system.

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We started developing startup projects in our business incubator.

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After herbs, we also learn to grow apples and coffee.

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We have launched Kombucha – a healthy drink full of probiotic cultures.

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Through acquisitions, we entered two new segments – brewing and beverage vending machines.

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### STABLE OWNERSHIP STRUCTURE ALLOWS US TO FOCUS ON THE DEVELOPMENT OF THE GROUP

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Currently 6.1 million shares at Prague Stock Exchange.

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Radenska

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.

#### Free float 0.95% (key management persons - excl. Lykos alfa owners)

Currently 0.2 million shares at Prague Stock Exchange.

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### Majority shares in hands of:

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Jannis Samaras

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Niky and René Sommer

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René Musila

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Tomáš Jendřejek

\* Periors's AFTOS a.s. In August 2024, LETOS and intelled steps to restructure in environce of the Group, which includes finformasion as For this purpose, a oncurary Lyncha a.s. was creates. Regarding doss not respease a change as the mainty of while information as will remain under the ontrol of the ontrol of the ontrol of the ormer statebolders of AETOS a.s. This means that oversessio or ontrol of Koba Cestosbreaso a.s., no any other changes that could affect Kobal Cessos on a.s.

esko Slovensko

# SHORES OWNED BY KEY MONAGEMENT DERSUAS

### Development in years by type of transaction

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# RESULTS OF KOFOLA GROUP | 3M 2025

| Reconciliation of reported and adjusted results (CZKm)       | Reported  | One-offs | Adjusted  |
|--------------------------------------------------------------|-----------|----------|-----------|
| Revenue                                                      | 2,093.1   |          | 2,093.1   |
| Cost of sales                                                | (1,229.8) | -        | (1,229.8) |
| Gross profit                                                 | 863.3     | -        | 863.3     |
| Selling, marketing and distribution costs                    | (729.3)   | -        | (729.3)   |
| Administrative costs                                         | (162.6)   | -        | (162.6)   |
| Other operating income/(costs), net                          | (4.8)     | 14.3     | 9.5       |
| Operating profit/(loss)                                      | (33.4)    | 14.3     | (19.1)    |
| Depreciation and amortisation                                | 181.8     |          | 181.8     |
| EBHDA                                                        | 148.4     | 14.3     | 162.7     |
| Finance income/(costs), net                                  | (43.5)    |          | (43.5)    |
| Income tax                                                   | (16.8)    | (3.0)    | (19.8)    |
| Profit/(loss) for the period                                 | (93.7)    | 11.3     | (82.4)    |
| - attributable to shareholders of Kofola ČeskoSlovensko a.s. | (92.1)    | 11.3     | (80.8)    |

#### One-offs

- Net gain on sold items of Property, plant and equipment of CZK 7.8 million recognized in all business segments.
- Costs connected to floods of CZK 16.3 million (mainly CzechoSlovakia segment, Beers & Ciders segment).
- Advisory costs of CZK 4.1 million (CzechoSlovakia and Adriatic segments).
- · Restructuring costs of CZK 1.7 million (Fresh & Herbs segment).

# GROUP RESULTS COMPARISON 3M\*

| (CZKm)                                                          | 3M25      | 3M24      | Change  | Change (%) |
|-----------------------------------------------------------------|-----------|-----------|---------|------------|
| Revenue                                                         | 2,093.1   | 2,051.4   | 41.7    | 2.0%       |
| Cost of sales                                                   | (1,229.8) | (1,178.0) | (51.8)  | 4.4%       |
| Gross profit                                                    | 863.3     | 873.4     | (10.1)  | (1.2%)     |
| Selling, marketing and distribution costs                       | (729.3)   | (593.9)   | (135.4) | 22.8%      |
| Administrative costs                                            | (162.6)   | (173.2)   | 10.6    | (6.1%)     |
| Other operating income/(costs), net                             | 9.5       | 14.8      | (5.3)   | (35.8%)    |
| Operating profit/(loss)                                         | (19.1)    | 121.1     | (140.2) | (115.8%)   |
| Depreciation and amortisation                                   | 181.8     | 137.2     | 44.6    | 32.5%      |
| EBITDA                                                          | 162.7     | 258.3     | (95.6)  | (37.0%)    |
| Finance income/(costs), net                                     | (43.5)    | (102.8)   | 59.3    | (57.7%)    |
| Income tax                                                      | (19.8)    | (37.8)    | 18.0    | (47.6%)    |
| Profit/(loss) for the period                                    | (82.4)    | (19.5)    | (62.9)  | (322.6%)   |
| - attributable to shareholders of Kofola CeskoSlovensko<br>a.S. | (80.8)    | (21.8)    | (59.0)  | (270.6%)   |

#### Comments

- · Impact of sugar tax implemented in Slovakia, which also caused significant prestocking at the year end 24.
- Unfavourable weather in 1Q 25 caused volume decrease (in liters) and resulted in worse financial results compared to 1Q 24.
- Costs on sweeteners were lower (price effect of 240.5 CZKm). Energy costs increased by 7.8 CZKm, savings in PET (price effect of 68.4 CZKm).
- Gross margin decreased from 42.6% to 41.2%.
- Higher Selling, marketing and distribution costs relate mainly to breweries – especially rebrading of Zubr and Holba brands and higher transportation and marketing costs.
- EBITDA margin at 15.8% vs 16.7% in 12M24.

# CONSOLIDATED INCOME STATEMENT\*

| (CZKm)                                    | 3M25      | 2024**    | 2023**    | 2022 **   | 2021**    | 2020**    |
|-------------------------------------------|-----------|-----------|-----------|-----------|-----------|-----------|
| Revenue                                   | 2,093.1   | 11,082.0  | 8,690.1   | 7,875.3   | 6,636.2   | 6,171.5   |
| Cost of sales                             | (1,229.8) | (6,037.1) | (4,802.7) | (4,564.0) | (3,710.2) | (3,349.5) |
| Gross profit                              | 863.3     | 5,044.9   | 3,887.4   | 3,311.3   | 2,926.0   | 2,822.0   |
| Selling, marketing and distribution costs | (729.3)   | (3,201.0) | (2,487.8) | (2,330.0) | (2,033.6) | (2,041.7) |
| Administrative costs                      | (162.6)   | (705.9)   | (707.1)   | (466.5)   | (466.4)   | (425.7)   |
| Other operating income/(costs), net       | 9.5       | 38.9      | 26.5      | 17.8      | 93.0      | 55.6      |
| Operating profit/(loss)                   | (19.1)    | 1,176.9   | 719.0     | 532.6     | 519.0     | 410.2     |
| EBUDA                                     | 162.7     | 1,851.0   | 1,253.4   | 1,110.4   | 1,128.1   | 1,030.3   |

### 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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### 

This presentation has been authorized by the Board of Directors of Kofola CeskoSlovensko a.s. on 10 June 2025.

'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.