Britvic
Britvic Sees Resilient Sales Amidst 10.6% Price Surge for Beverages
Despite an average price hike of 10.6% per litre, Britvic, the maker of Pepsi and Robinsons in the UK, maintained stable sales, selling 1.75 billion litres of drinks in the country in the year to September. The 2.3% decline in sales is attributed to adverse weather conditions in July and August. Britvic's portfolio, including popular brands like Tango and J2O, showed resilience in the face of rising costs. The company's revenue reached £1.75 billion while pre-tax profit decreased slightly to £156.8 million. Britvic is the largest seller of branded still soft drinks and the second largest in carbonated drinks in Great Britain.
Carlsberg
CMBC To Invest £10 Million in Northampton Brewery for Sustainable Packaging
Carlsberg Marston’s Brewing Company (CMBC) plans to invest over £10 million in its Carlsberg brewery in Northampton, UK. The investment will upgrade equipment and enhance capacity to produce 'Snap Pack' packaging while reducing water usage. Snap Pack, introduced in 2018, is a sustainable multipack that uses glue instead of plastic for packaging. The machine is expected to double Snap Pack production, targeting a full transition by the end of 2024. This shift is estimated to reduce plastic usage by up to 76%. Other upgrades, including a new can filler and seamer, and a laser can coder, aim to improve efficiency and safety while cutting water usage by 10%.
Companies
Lucozade Energy Shifts to 500ml Single Bottles, Introduces £1.50 PMP Variant
Lucozade Energy is set to transition its 380ml single SKUs to 500ml bottles starting January, covering flavors like Original, Orange, Apple, Cherry, Caribbean Crush, and Lucozade Zero Pink Lemonade. Simultaneously, the brand will launch a £1.50 price-marked 500ml variant for the first time. 380ml bottles will still be available in multi-packs. The move harmonizes with other bottled soft drink offerings and aims to meet growing demand in the energy segment. The company will support the transition with in-store POS as well as a shopper-facing campaign. Lucozade Energy says 250ml and 330ml SKUs will cater to on-the-go consumers, and 900ml bottles to those looking for a "drink later" option.
Lotte
Lotte Chilsung Beverage's Strong 3Q23 Performance and Overseas Growth Prospects
Lotte Chilsung Beverage achieved operating profit of KRW84.3 billion (+12.3% YoY) in 3Q23, meeting consensus estimates, with record sales of KRW830.4 billion (+5.9% YoY). Its beverage business contributed with a 5.7% YoY increase, driven by price hikes, robust sales of high-margin carbonated drinks, and discontinuation of unprofitable stock keeping units. With plans to include Pepsi-Cola Products Philippines as a consolidated subsidiary from 4Q23, Lotte Chilsung Beverage anticipates overseas market exposure will move from 12% in 2022 to 38% in 2024. The company intends this unit to serve as a production base for further expansion into Southeast Asian markets.
RJ Corp
Varun Beverages Achieves Record Sales in Q3CY23 with Strong Revenue Growth
Varun Beverages reported robust Q3CY23 results, with a 21.8% YoY increase in revenue from operations, reaching Rs 3,870.52 crore. The company attributes growth to a double-digit surge in volume, with consolidated sales volumes rising by 15.4% to 220 million cases. Ebitda margins improved 79 basis points to 22.8% YoY, driven by enhanced gross margins and operational efficiencies. Varun Beverages, a key player in carbonated soft drinks and non-carbonated beverages, produces and distributes PepsiCo brands, including Pepsi, Mountain Dew, Tropicana, and Aquafina. The company's momentum is expected to continue, supported by increased penetration in newly acquired territories in South and West India, higher acceptance of new products, capacity expansion, and growing international sales.
Suntory
Suntory Invests in Atomo, the 'Beanless Coffee' Innovator
Suntory made an undisclosed ‘multi-million-dollar’ investment in Atomo, a Seattle-based startup known for its "beanless coffee" beverages. Atomo, which had previously raised over $50 million, offers coffee-like products without traditional coffee ingredients. Instead, it uses proprietary formulations and ingredients like date extract and chicory root, to mimic the taste and appearance of traditional coffee. Atomo sees opportunity given growing concerns about climate change's impact on coffee production.
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