Interim Results 2018

08/08/2018

Stock Spirits Group PLC

Results for the six months ended 30 June 2018

Download the full Interim results statement (PDF 769KB)

8 August 2018: Stock Spirits Group PLC (“Stock Spirits” or the “Company” or the “Group”), a leading owner and producer of premium branded spirits and liqueurs that are principally sold in Central and Eastern Europe, announces its results for the six months ended 30 June 2018.

FINANCIAL HIGHLIGHTS

• Total revenue €124.1 million, an increase of +5.3% (2017: €117.8 million restated for IFRS 15¹)
• Operating profit €18.0 million, an increase of +9.7% (2017: €16.5 million)
• Profit after tax €12.7 million, an increase of +8.6% (2017: €11.7 million)
• Basic EPS 6.38 € cents per share, an increase of +9.1% (2017: 5.85 € cents per share)
• Interim dividend 2.50 € cents per ordinary share, an increase of 5.0% (2017: 2.38 € cents)
• EBITDA²  €23.4 million, an increase of 6.2% (2017: €22.0 million)
• EBITDA margin increased from 18.7% to 18.9%
• Leverage³ at 0.67x; net debt reduced by €14.4 million since December 2017 to €38.7 million

OPERATIONAL HIGHLIGHTS

• Total sales volume slightly ahead at 5.8 million 9 litre cases (2017: 5.7 million)
• Polish business now stabilised, delivering revenue and volume share gain despite pricing remaining highly competitive
• Significant new product development (NPD) investment in largest brands:
  • Poland: re-launch of Żołᶏdkowa de Luxe and Lubelska, a Stock Prestige “World Cup” limited edition, and flavour extensions of Lubelska and Saska
  • Czech Republic: launch of Božkov Republica
• New distribution arrangement in place with Beam-Suntory in the Czech Republic, alongside existing agreement with Diageo, significantly strengthens Czech whisky portfolio
• Distribution agreements signed with Quintessential Brands for Irish whiskey in key markets

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FULL INTERIM RESULTS STATEMENT