Adjusted earnings before interest, taxes, depreciation and amortisation (Ebidta) declined 16pc to £42.4m (€48.9), while margins dropped to 11.3pc from 13.7pc.
The company linked the drop to its US partnership with Molson Coors – which owns brands such as Coors, Molson Canadian and Foster’s.
Fever-Tree, a premium mixer brand stocked in Irish pubs and retailers such as Tesco and Dunnes Stores, reported higher revenues over the same period.
The company, known for tonic water, ginger beer and cocktail mixers, said total adjusted revenue rose 3pc to £375.3m.
Fever-Tree brand revenue rose 4pc on a constant currency basis to £372.7m, with growth of 5pc in the second half of the year.
In the UK, revenue fell 2pc to £108.4m. Supermarket and off-licence sales improved in the second half, while sales in pubs and bars declined, with on-trade revenue down 9pc for the year, it said.
Across Europe, revenue increased 2pc with continued gains in premium mixer market share. Ginger Beer recorded double-digit growth during the year, the report said.
Products beyond tonic accounted for 45pc of group revenue.
In the US, revenue rose 6pc on a constant currency basis. Fever-Tree products are distributed through 400 regional distributors following its agreement with Molson Coors, the report said.
The company said the change to a profit-sharing model in the US affected reported earnings.
Fever-Tree completed a £100m share buyback in 2025 and has launched a further £30m for 2026.
It ended the year with £91.1m in cash. The group said its expectations for 2026 remain in line with market forecasts.
“2025 was a pivotal year for Fever-Tree. The strategic partnership with Molson Coors in the US creates a significant opportunity to take Fever-Tree to the next level in our largest growth market,” said Tim Warrillow, chief executive and co-founder of Fever-Tree.
“Across our markets, the long-term trends shaping adult socialising, namely premiumisation, moderation and longer, lighter serves, continue to play directly to our strengths,” said Mr Warrillow.
“Notwithstanding the current uncertain geopolitical outlook, our expectations for 2026 remain unchanged and in line with market expectations.”
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