Kofola to maintain profitability despite new tax on sweetened beverages

Czech beverage company Kofola will pay €15m in tax on sweetened beverages this year, says its owner Jannis Samaras. The tax caused a 20% drop in consumption of cola drinks and Vinea this year, and a 40% decline in syrups. Despite this, Kofola wants to maintain profitability in Slovakia at last year's record level of €12.7m. Since the pandemic, it increased sales from €74m to €126m in the country. Its business with UGO fresh fruit and vegetable juices, Leros teas and unsweetened waters is growing. It recently acquired ASO Vending, a coffee machine company, and plans to expand abroad with it.

(dennikN.sk)