Innocent Drinks has bounced back into the black as its ‘Blender’ production facility in the Netherlands got up to speed and helped the group control costs.
The latest accounts signalled an end to a turbulent run at the Coca-Cola-owned juice brand.
Innocent swung from an operating loss of £3.7m in 2023 to a £13m profit last year.
It follows the business suffering a £41m loss in 2022 as it ploughed more money into the new £200m factory in Rotterdam, dealt with rampant cost inflation and felt the pressure of shoppers switching to own label and challenger brands such as Moju, Mockingbird and Plenish. At the time, Innocent called it one of its “most challenging years” since launching in 1998.
Innocent said in the newly filed accounts around 70% of all its drinks are now made at the Blender, giving the company greater control over its cost base and production processes.
“This has not only improved operational efficiency and output but also contributed meaningfully to profitability and environmental goals,” Innocent added.
Innocent brought production in-house for the first time in 2021 with the opening of the eco-friendly factory in Rotterdam. The site is aiming to lead the way on automation and sustainability, with a goal to become carbon-neutral by 2028.
Revenues in the year to 31 December 2024 rose 2.9% to £466.1m as it strengthened market share across most of the core European markets. However, it represented a slowdown in growth from 6.3% in 2023.
The performance reflected the stabilisation of its operations and benefits of investment in the manufacturing capability, Innocent said.
CEO Nick Canney told The Grocer: “2024 was another step in a positive direction. The environment was challenging, and we faced significant external headwinds, but we made real progress across Europe. We grew turnover, profitability and market share, which is a testament to the resilience of our teams. I am super proud of them for what they’ve delivered this year.
“Our Blender has been absolutely key in driving efficiency, sustainability and strengthening our foundations, and helping to get more drinks out to more people. As we head into 2026, I’m realistic about the challenges ahead, but confident we’re in a stronger position to keep moving forward.”
Overall, the group made a loss after tax of £1.5m, an improvement on the £23.4m deficit in the prior year.
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