Good Drinks follows strong results with Optus Stadium extension

03 February, 2021 by Andy Young

It has been a good week to follow a good start to the financial year for Good Drinks Australia. After delivering a very strong result for the first half of the year, Good Drinks has also announced it has extended its contract to supply beer and cider to the 60,000-seat Optus Stadium in Perth, by another five years.

In announcing the company’s impressive first six months to the financial year, Managing Director John Hoedemaker revealed EBITDA was up a massive 2254 per cent on the same period last year.

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“What an extraordinary six months, we are very proud to deliver a fantastic result for the first half of 2021,” Hoedemaker said.

“Sales in total growing at 39 per cent, our own brands, Good Drinks Australia brands, growing at 42 per cent, gross profit margin hitting 71 per cent.

“Fantastic results and they are all key drivers for our earnings; it’s wonderful to be able to deliver $7.1m EBITDA for the first half.

“That’s a great result for us, it’s a big win. That’s shipping over the number that we had expected for the full financial year ’21.

“The Good Drinks team have a massive amount of momentum at the moment and we are confident that momentum is going to continue in H2. We have got some fantastic people, some really great brands in place, wonderful capabilities and we expect to deliver a strong result for financial year 2021.”

Total volume for the six months was 8.5m litres, while revenue was $27.4m.

In speaking about the stadium contract extension, Hoedemaker said it was another major milestone for Good Drinks who will provide the stadium with its Gage Roads, Atomic, Matso’s, Alby, Hello Sunshine and San Miguel product ranges.

“Good Drinks is extremely proud to be awarded this contract extension,” he said.

“It’s a ringing endorsement for the strength and quality of our brands and the success of our strong partnership with [the operators of Optus Stadium] VenuesLive.

“The partnership will continue to present an exciting and rare opportunity to achieve significant exposure for the company’s brands and reinforces the ‘brand in hand’ experience that we promote as part of our Good Drinks strategy.”