Innocent Drinks losses more than quadrupled in 2022 after it faced challenges with its new transformation programme and its £200m all-electric factory failed to reach its “full potential”.
The smoothie maker’s attributed the losses to rising costs in its efforts to bolster production at its Port of Rotterdam factory, “The Blender”, reported the Telegraph.
Showcased as one of the world’s first carbon-neutral drinks factories, Innocent first opened the site in 2021.
Yet due to a sudden jump in inflation of manufacturing costs, the drinks brand experienced a “slower than anticipated” increase in production at the factory.
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Innocent chief operating officer James Davenport said, “The combination of these factors meant our supply chain was unstable and impacted our ability to meet the demand from our customers.” but added that operations at the facility had stabilised in 2023.
A spokesperson for the Coca-Cola-owned brand added: “We always knew the ambitious nature of the Blender, our factory in Rotterdam, was going to require a significant investment upfront.
“Not only will it allow us to transform the long-term profitability of the business, but as one of the world’s first all-electric, fully renewable energy manufacturing plants, it is a blueprint for the future of sustainable manufacturing.”
In a 2022, Innocent named a Nick Canney as its new CEO, a promotion from his role leading the company’s European business.
