Refresco 2009 Results
Dordrecht, 20 April 2010.
Today Refresco announced the 2009 figures and published its annual report. The performance in 2009 was very positive, showing higher volumes and improved financial figures. Net turnover was stable at € 1.14 billion, volume in liters was up 8% and EBITDA was 9% higher at € 119.6 million, compared to 2008. The net result improved with over € 20 million. Strong autonomous growth in Iberia, the UK and the Nordic countries, a strong focus on cost reductions and the acquisition of Schiffers Foods in the Netherlands contributed to the improvement.
Economic circumstances were challenging in 2009. Consumer buying behavior became more unpredictable and spending went down. This resulted in an increased focus on private label, a positive trend for Refresco. A cost reduction program, together with investments
in state-of-the-art production lines, strengthened the path towards full cost-price leadership in the industry.
In March the Company announced that 3i, the international private equity company, acquired 20% newly issued shares
in Refresco for a total consideration of € 84 million. This transaction will enable Refresco to realize its growth ambitions and further extend its presence in the European markets through acquisitions.
Hans Roelofs, CEO of Refresco:
“For Refresco, 2009 has been a good year. Despite the challenging market circumstances we have been able to show that our strategy is paying off. Cost reductions, improvement of efficiency and acquisitions enabled us to keep growing. With the capital injection of 3i we are well prepared to leverage on further opportunities in our industry. In the coming years we look for a healthy combination of organic growth and acquisitions in countries that we operate in and adjacent countries.”
The Annual Report is available on the Refresco website, www.refresco.com
Tel: +354 591 4400