FQVTF - Fever-Tree reports marginal drop in prelim FY20 revenue despite sluggish economy

Fever-Tree Drinks (FQVTF) reports a 3% drop Y/Y in prelim FY20 revenue to £252.1M.With increasing investment and pandemic impact on revenue and gross margin, adj. EBITDA was reduced to 22.6% from 29.6% in the prior year.Asset light business model continues to underpin the company's strong financial position, with cash increasing to £143M (+12% Y/Y).The company proposed a full year dividend of 15.68 pence per share (+4% Y/Y).For FY21, the company expects some of the Off-Trade demand to switch to the On-Trade as it begins to re-open; Off-Trade estimated to remain strong.Fever-Tree foresees to remain well placed across regions and channels and deliver revenue growth of between 12% to 16% in 2021, with gross and EBITDA margins consistent with FY20.Live audio webcast is scheduled for today.

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Fever-Tree reports marginal drop in prelim FY20 revenue despite sluggish economy