Stock Analysis

Britvic Full Year 2023 Earnings: EPS Misses Expectations

Simply Wall St

December 09, 2023

Britvic (LON:BVIC) Full Year 2023 Results

Key Financial Results

Revenue: UK£1.75b (up 8.1% from FY 2022).
Net income: UK£124.0m (down 12% from FY 2022).
Profit margin: 7.1% (down from 8.7% in FY 2022). The decrease in margin was driven by higher expenses.
EPS: UK£0.48 (down from UK£0.53 in FY 2022).

revenue-and-expenses-breakdown — LSE:BVIC Revenue and Expenses Breakdown December 9th 2023

All figures shown in the chart above are for the trailing 12 month (TTM) period

Britvic EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%.

The primary driver behind last 12 months revenue was the GB segment contributing a total revenue of UK£1.19b (68% of total revenue). Notably, cost of sales worth UK£1.05b amounted to 60% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to UK£282.9m (49% of total expenses). Explore how BVIC's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Beverage industry in the United Kingdom.

Performance of the British Beverage industry.

The company's shares are up 2.1% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for Britvic that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.