6 November 2024

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(the "Company" or the "Group")

CAPITAL MARKETS DAY & MEDIUM-TERM FINANCIAL AMBITIONS

Nichols plc, the diversified soft drinks Group, will today host its 2024 Capital Markets Day for investors and analysts at 2.00pm GMT in London, providing further details on the Group's growth strategy, including new medium-term ambitions. 

Nichols Management team will provide an update on the execution of the Group's strategy, providing insights into each business unit and the key growth drivers.  The Group's strategy aims to create shareholder value by building a high-margin, highly cash-generative, diversified business, leveraging the strength of the differentiated Vimto brand. 

In the medium term the Group's ambition is to deliver:

·      Total revenues of at least £225m, representing a +30% versus FY24 consensus¹

·      PBT margin expansion to 20.0%, representing a +250bps increase versus FY24 consensus¹

·      Profit before tax of at least £45 million, representing +50% versus FY24 consensus¹

The delivery of the strategy and financial ambitions are underpinned by a strong balance sheet, and a disciplined capital allocation framework focused on enhancing shareholder value. 

A recording of the presentations and all materials will be available on the Nichols plc website at https://www.nicholsplc.co.uk/investors following the event.

Current trading

FY24 trading remains in line with management expectations.  No additional update on current trading will be provided at today's event, with management reiterating guidance for the current financial year ending 31 December 2024.

Andrew Milne, Chief Executive of Nichols, said:

"At today's CMD, members of our management team will provide further details on the Group's headroom for growth in the UK market as well as the exciting opportunities to accelerate our international business.

The delivery of our medium-term financial ambition for creating shareholder value will be underpinned by our proven approach to innovation, focus on growing distribution in existing markets, expanding into new geographies, and investing in our brands.  We are very excited by and confident in the growth opportunities that lie ahead."

¹ Management believes FY24 analyst consensus is for Revenue of £172.6m, Adjusted PBT of £30.2m and an Adjusted PBT margin of 17.5%.

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