Q1 2023 Kofola CeskoSlovensko as Earnings Call Transcript
Ladies and gentlemen, welcome to Kofola's First Quarter '23 Results Conference Call. You will now hear a recorded presentation of Group CFO, Martin Pisklak, and business insights from CzechoSlovakia and the Adriatic presented by country CEOs, Daniel Burys and Marian Sefcovic.
Dear investors, welcome on our conference call. We experienced a very unusual first quarter of this year. However, our volumes saw the drop down significantly. The EBITDA of Kofola Group increased significantly as well. Let me explain how is this possible. The increase of EBITDA by approximately CZK 100 million can be divided into 3 significant effects.
First 1 is related to our volumes sold. Our expectations were even more pessimistic than the reality. Second effect is related to the cheaper raw materials and energy prices. And the last 1 is related to cost cuts we made based on our pessimistic expectations. We have to say that such dynamics cannot be expected in the rest of the year. In April and May, we see
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