Soft drinks bottler Refresco Gerber has published its first full-year results since the merger of its two constituent parts.
The company recorded total pre-tax earnings of €208.2m in 2014 – an increase of nearly 50% on the previous year’s figure of €139.7m. Similarly, a yearly profit of €38.7m represents a dramatic contrast with substantial losses the year before.
Other highlights of the company’s full-year results included significant increases in its revenue, net cash flow, gross profit margin and cash position. The strong figures follow the merger of Refresco and Gerber Emig, which was completed in November 2013.
Refresco Gerber CEO Hans Roelofs said: “2014 was a successful year for Refresco Gerber in many respects. We are pleased to report strong operating results and cash flow as well as significant synergies from the merger of Refresco and Gerber Emig which took place in November 2013.
“We took a big leap forward in our operations and financial results. The merger expanded our manufacturing footprint and we now provide our customers access to more markets, products, packaging formats and innovations. At the same time the merger has enabled us to further professionalise our organisation and realise scale and efficiency synergies, cost advantages and commercial opportunities – all contributing to strong profits for the year. The merger also resulted in a significant increase in volume and revenue, although in certain markets and categories underlying private label volumes were slightly under pressure throughout the year.”
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