In 2023, the revenue of Pepsi in Ukraine amounted to almost 10 billion UAH

April 16, 2024

The net profit of Sandora, which is the main operating company of the PepsiCo group in Ukraine, amounted to about UAH 890 million

According to the official financial statements of the Sandora company, which is the main operating company of the PepsiCo group in Ukraine, its revenue amounted to UAH 9.7 billion, compared to UAH 6.4 billion in 2022 and UAH 12 billion in 2021.

Before the start of the full-scale invasion, the PepsiCo group in Ukraine operated two plants for the production of soft drinks, juices and snacks in the Mykolaiv region, as well as a plant for the production of dairy products in the Kyiv region. In addition, the company carried out the production of TM Pepsi drinks using the tolling scheme at the production facilities of the Carlsberg Ukraine company.

After the beginning of the invasion, operations of all production facilities of the company in Ukraine were stopped. The resumption of dairy production in the Kyiv region (by a related company PrJSC Wimm Bil Dann using the tolling scheme as well) took place in April 2022, while in May of the same year the group resumed tolling operations at the facilities of Carlsberg Ukraine. In addition, Sandora company started to import drinks and chips from Poland and Romania.

During Y2022, production lines were partially relocated from factories in the Mykolaiv region to Kyiv region, and in March 2023, the company resumed production of juices and beverages at the Mykolaiv facilities.

Despite the gradual recovery of production and the increase in turnover compared to the previous year, Sandora's total turnover is still below the figure of Y2021.

There is currently no breakdown of the company's sales by types of activity in 2023, while in 2021, according to the audited financial report of the company, a one/third of Pepsi's revenue in Ukraine was provided by the sale of beverages, dairy products accounted for another 25%, juices - 22%, snacks - 20%.

As for other financial performance figures of Pepsi in Ukraine, the operating profit of the Sandora company in 2023 was 397 million (in 2022 the company received an operating loss in the amount of 1.2 billion UAH), the net profit made almost 890 million UAH (the net loss in 2022 was 2.8 billion UAH, net profit in 2021 UAH 321 million).

Regarding the financial structure of the company, in recent years the main source of financing Sandor's assets was a loan from a related company, in 2022, to cover the shortage of funds due to losses, the company also attracted bank financing (the debt as of December 31, 2022 was UAH 1.8 billion), but as of December 31, 2023, Sandora's bank debt was already repaid.

The main Pepsi brands in Ukraine are: "Sandora", "Sadochok", "Sandorik", Pepsi, 7UP, Mirinda, "Slovyanochka", "Agusha", Lipton Ice Tea, "Yesentuki", "Akva minerale" and Lay's.

PepsiCo continues to work in Russia. According to the group's financial report for 2023, its turnover in Russia in the reporting year amounted to $3.6 billion, compared to $4.1 billion in 2022.

The total global turnover of the group in 2023 amounted to $91.5 billion, net profit - $9 billion.

As a reminder Coca-Cola's revenue in Ukraine in 2023 made a record 13.9 billion UAH, net profit was also a record 1.6 billion UAH.

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