Refresco

2023年5月16日

碧域的最新收藏於2021年英國植物奶飲料供應商Plenish。碧域表示“強烈收購”英國軟飲料集團可能會超過其利用目標。羅賓遜和水果射擊所有者具有該公司稱之為“長期政策”為其調整後的淨債務/ EBITDA比率之間的1.5倍和2.5倍。今天(5月16日)推薦報告說碧域發布其半年財報後,首席執行官西蒙•利特表示,該公司百事可樂灌裝廠在英國,是監測其他潛在目標。“我們正在尋找加密品牌到現有的投資組合和我們現有的市場或,的確,擴展到新的地區。當然,我們總是看起來和參與但以合適的價格,我們將著眼於債務或股本的大小取決於交易。“如果這是一個強大的收購,略高於一個半到兩個半短的時間內,我認為大多數股東將會接受。“在法國,集團遭受了由於高通脹和嚴格的監管環境管理定價,這意味著碧域隻能通過定價的一半。法國在其他國際的上市與愛爾蘭和一些不知名的國際市場在這些中間結果。在其他國際,成交量下跌1.9%,至1.9億升,營收增加4.7%至£174(218美元),主要由“穩健”表現在愛爾蘭。 However, regarding France – where both revenue and volume were down YoY – Britvic’s CSO Chris Hancock stated that: “We had the first half experiencing the cost pressures and only took pricing at the end of the half. So that’s driving a lot of the margin dilution that you saw in that first half.” When asked by investors if the group was getting enough pricing through in France, Hancock noted that while he was pleased with what they could push through: “It’s obviously significantly in excess of what we’ve done before. It’s not quite enough to cover the inflation in reality, and we do have that lag effect from having taken it at the end of the half.” Despite a difficult pricing and competitive retail environment in France, the group believes it is in a good position. Hancock highlighted actions it has taken in recent years, such as Britvic’s exit from private label juice in France. That exit from private label juice saw the company sell three factories to Refresco in 2020. Under that deal, Britvic retained the ownership of its Pressade and Fruit Shoot brands, which are now manufactured by Refresco. The group’s strategy for France is focused on flavour concentrates – like its brands Moulin de Valdonne and Teisseire – which is seen as a global strategic priority by Britvic. Last year, Britvic was under pressure from private label products, in particular its Moulin de Valdonne and Teisseire brands which compete in that category. On commodities and hedging for the year, Britvic stated that due to current circumstances, like the Ukraine war and the global environment, it’s difficult to hedge years ahead and that across all of its commodities it’s about 50% hedged for the year. Sugars is a different story, however, as Hancock stated: “There is a different regime between what happens in the UK post Brexit, which allows greater freedom from a sugar point of view to be able to hedge. Whereas from a European sugar point of view, we’re still governed by the regulation within there and what we can and can’t do. “So, there is a difference there between what we’re able to do in GB and what we’re able to do in Europe.” In Britvic’s financial results for the six months to 31 March 2023, the company posted a revenue of £794m and a profit after tax of £54.4m. The group also confirmed its intent to initiate a further share buyback programme of up to £75m over the next 12 months. This follows the recent completion in February 2023 of a £75m buyback announced last year. Share this article