According to the UK vape distributor Supreme’s semi-annual financial report for 2024, total revenue increased 8% to 113 million pounds, and the ban on disposable vape brands such as ELFBAR and LOST MARY led to a 13% drop in vape revenue. Revenue increased to 30.3 million pounds.
According to Asian Trader reported on November 27, as of September 30, the UK vape distributor Supreme released its semi-annual financial report. The report showed that revenue rose 8% year-on-year to £113 million, an increase of £105.1 million.
Highlights from the report:
- Revenue from the vape category was £36.6 million, 13% lower than the £42.1 million recorded in the same period last year. The main reason is Supreme’s strategic adjustments to the category ahead of the implementation of the single-use vape ban in June 2025;
- Sales of one-off items fell by 56% to £4.4 million compared to one-off items, while sales of non-one-off items remained at £32.2 million;
- ELFBAR and LOST MARY combined disposable vape revenues of £30.3 million compared to just three months of distribution last year, an increase of 15%.
- Adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased 22% to £18.5 million as gross margins improved and expenses were tightly controlled;
- At present, Supreme’s non-vape annual revenue has exceeded 100 million pounds, accounting for about 45% of the group’s total revenue.
Supreme is shifting its focus to rechargeable smoke bomb systems, 10ml e-vape supplements, and smoke tar bags under its 88Nic brand, the company said. These measures are in line with anticipated regulatory changes that further strengthen Supreme’s longstanding commitment to supporting vapes as a smoking cessation tool.
Sandy Chadha, the company’s chief executive, said,
- “Our strategic strengths and the initiative of our team position us well for the upcoming changes to the UK vape industry.” Non-disposable vapes account for the majority of our vape revenue. We continue to add 10 ml of e-vape supplement.”
- “With the acquisition of Clearly Drinks, we are achieving steady growth and diversification of our product portfolio across all categories. Incorporating well-known and trusted brands into Supreme’s distribution network across the UK retail industry is key to our long-term growth strategy. This acquisition once again demonstrates our ability to quickly identify and implement M&A opportunities.”
Supreme is expected to report fiscal year 2025 revenue of approximately 2.4 due to continued strong growth in its core types and continued market adaptability, 100 million pounds of profit before adjusted interest, tax, depreciation, and amortization of at least 40 million pounds.
