Czech soft drinks company Kofola Ceskoslovensko will look for acquisitions in Poland or consider withdrawing from the Polish market in the coming months, the company said on May 15.
The company said in its first-quarter results presentation that Poland was the only market where Kofola did not manage to grow revenue. Results were positive in Kofola’s other markets, Czechia, Slovakia, Slovenia, and Croatia.
Kofola’s sales in Poland fell nearly 9% y/y in the first quarter to CZK254mn (€9.9mn), the company said.
“[Kofola needs] to fill in the portfolio, [our] own brands are not sufficient, we actively search for new acquisitions,” the company said. "Strong brand acquisition is a must."
However, the company also said it may sell its Polish unit Hoop as a contingency plan. That would push Kofola’s sales 17%, but have “no real effect” on Ebitda performance, the soft drinks maker said.
The group is 68% controlled by the Greek-Czech Samaras family, who resurrected the communist-era cola brand Kofola in the 1990s. In the coming months, Kofola is also likely to lift its free float, with the second-biggest shareholder — CED Group, a subsidiary of private equity group Enterprise Investors — aiming for a private placement, Reuters reported.
Related Articles
Fears grow of Russian interference in Central European media space
Two thirds of Central Europeans are concerned about Russian interference in their country’s media or public opinion, according to a new poll conducted by MEDIAN on behalf of the ... more
Four Czechs on Kyrgyzstan skiing holiday killed in avalanches
Four Czech citizens on a skiing holiday were killed in avalanches that occurred in Kyrgyzstan's northern district of Ak-Suu over the weekend, according to the Issyk-Kul regional police department. ... more
Czech Raiffeisenbank profit in 1-3Q 2023 dropped by 27.5% y/y
The Czech branch of Raiffeisenbank (RB) registered a 27.5% year-on-year drop in profits in the first three quarters of 2023 to CZK3.96bn (€162mn). RB’s assets grew by 13.3% to CZK679bn, Czech ... more
Most Read
-
Serbian biotech Dren Bio sold to Sanofi for $1.9bn
1 month ago
-
Scandal surrounding Hungarian central bank’s investments spreads to Polish developer GTC
29 days ago
-
Trump Ukraine envoy Witkoff dismisses Starmer’s Ukraine ceasefire plan, parrots Kremlin talking points
1 month ago
-
Israeli IDF troops engage in ground battle in Syria as airstrikes hit Palmyra
29 days ago
-
COMMENT: Why Iran remains wary of Trump's negotiation overtures
30 days ago