Kofola CeskoSlovensko (KOFOL) investor relations material

Executive summary

• Q3 2025 EBITDA was CZK 725–727 million, flat year-over-year, as cost-saving initiatives offset a 7.5% revenue decline driven by sugar tax in Slovakia and poor weather.

• 9M 2025 revenue was CZK 8.17 billion, down 3.6% year-over-year, with EBITDA at CZK 1.40 billion, a decrease of 11.8% compared to 9M 2024.

• The group remains a leading beverage producer in Central and Eastern Europe, with strong market positions in Czechia, Slovakia, and the Adriatic region.

• Key challenges included lower sales volumes, the impact of a sugar tax in Slovakia, unfavorable weather, and weak consumer sentiment.

Financial highlights

• Full-year 2025 EBITDA is now expected at CZK 1.75 billion, revised down from CZK 1.9 billion due to a weaker sales environment and loss of a key Adriatic customer.

• Q3 2025 revenue was CZK 3.11 billion, down 7.5% year-over-year, with EBITDA at CZK 727 million, down 1.1%.

• Gross margin improved to 47.9% from 46.7% year-over-year, despite lower revenue and EBITDA margins.

• Net profit for 9M 2025 was CZK 543.9 million, down 18.3% year-over-year.

• Net debt increased to CZK 5.29 billion, with a net debt/EBITDA ratio of 3.08x as of 30 September 2025.

Outlook and guidance

• 2025 full-year EBITDA guidance was revised downward to CZK 1.75 billion due to persistent negative consumer sentiment, export declines, and a major retailer in the Adriatic region shifting to private labels.

• Moderate growth is anticipated from 2026 as the market is expected to recover, with a more positive forecast to be presented in February.

• Maximum CAPEX set at 60% of EBITDA, with a dividend payout of CZK 21 per share planned for 2025.

• Revenue and volume in October 2025 declined by 1% and 7% respectively compared to October 2024.