Cott Declares Dividend and Reports Fourth Quarter and Fiscal Year 2012 Results

Cott Declares Dividend and Reports Fourth Quarter and Fiscal Year 2012 Results 
(Unless stated otherwise, all fourth quarter 2012 comparisons are
relative to the fourth quarter of 2011 and all fiscal year 2012
comparisons are relative to fiscal year 2011; all information is in
U.S. dollars. Certain terms used in this press release are defined
below.) 
TORONTO and TAMPA, FL -- (Marketwire) -- 02/15/13 --   Cott
Corporation (NYSE: COT) (TSX: BCB) today announced the declaration of
a quarterly dividend of CAD$0.06 per share on common shares, payable
in cash on April 5, 2013 to shareowners of record at the close of
business on March 20, 2013, as well as its results for the fourth
quarter and fiscal year ended December 29, 2012.  
Fourth Quarter 2012 Results  


 
--  Revenue of $517 million was lower by 6% compared to $549 million.
--  Gross profit as a percentage of revenue increased 230 basis points to
    11.7% compared to 9.4%.
--  Net income increased to $2 million compared to a net loss of $12
    million.
--  Earnings per diluted share increased to $0.02 compared to a loss per
    diluted share of $0.12.
--  EBITDA increased 53% to $42 million compared to $27 million. Adjusted
    EBITDA increased 31% to $43 million compared to $32 million.
--  Free cash flow was $101 million arising from $120 million of net cash
    provided by operating activities less $19 million of capital
    expenditures.

  
Fiscal Year 2012 Results  


 
--  Revenue of $2,251 million was lower by 4% (3% excluding the impact of
    foreign exchange) compared to $2,335 million.
--  Gross profit as a percentage of revenue increased 110 basis points to
    12.9% compared to 11.8%.
--  Net income increased 27% to $48 million compared to $38 million.
--  Earnings per diluted share increased 25% to $0.50 compared to $0.40.
--  EBITDA increased 8% to $209 million compared to $193 million. Adjusted
    EBITDA increased 7% to $213 million compared to $199 million.
--  Free cash flow was $103 million arising from $173 million of net cash
    provided by operating activities less $70 million of capital
    expenditures.

  
"Looking back at the fourth quarter and 2012 as a whole, I'm pleased
with the improvement in gross margin and Adjusted EBITDA, alongside
another year o
f strong cash generation. Additionally, in 2012 we
announced our balanced capital deployment strategy, which seeks to
improve our long-term growth and leverage metrics while returning
funds to shareholders," commented Jerry Fowden, Cott's Chief
Executive Officer. "For 2013, we remain committed to being a high
service, low cost producer while maintaining the appropriate balance
between revenue and margin," continued Mr. Fowden. 
FOURTH QUARTER 2012 PERFORMANCE SUMMARY  


 
--  Total filled beverage case volume (excluding concentrate sales) was
    199 million cases compared to 228 million cases. The volume decline
    was due primarily to our decision to exit certain low gross margin
    business in North America and the United Kingdom / Europe ("U.K.") as
    well as a continued general decline in the North American carbonated
    soft drink ("CSD") and juice categories. Including concentrate sales,
    volume was 280 million cases compared to 303 million cases.
    Concentrate volume grew 6% due primarily to the timing of shipments to
    customers in Asia.
    
    
--  Revenue was lower by 6% at $517 million. An overall increase in
    average price per case globally and favorable product mix in the U.K.
    was offset by lower overall volumes.
    
    
--  Gross profit as a percentage of revenue increased 230 basis points to
    11.7% compared to 9.4%. The margin improvement was due primarily to an
    increase in average price per case and our exit from certain low gross
    margin business globally, as well as increased operational
    efficiencies in North America.
    
    
--  Selling, general and administrative ("SG&A") expenses were flat at
    $44 million.
    
    
--  Income before income taxes increased to $3 million compared to a loss
    before income taxes of $10 million.
    
    
--  Income taxes were a benefit of $1 million compared to a $1 million tax
    expense.
    
    
--  EBITDA increased 53% to $42 million compared to $27 million. Adjusted
    EBITDA increased 31% to $43 million compared to $32 million.
    
    
--  Free cash flow was $101 million arising from $120 million of net cash
    provided by operating activities less $19 million of capital
    expenditures, compared to $87 million of free cash flow arising from
    $104 million of net cash provided by operating activities less $17
    million of capital expenditures.

  
FOURTH QUARTER 2012 REPORTING SEGMENT HIGHLIGHTS  


 
--  North America filled beverage case volume was 146 million cases
    compared to 170 million cases. Revenue was lower by 9% at $384 million
    as an increase in average price per case was more than offset by our
    exit from certain low gross margin business alongside a continued
    general decline in the North American CSD and juice categories.
    
    
--  U.K. filled beverage case volume was 46 million cases compared to 49
    million cases due primarily to our exit from certain low gross margin
    business as well as the decrease in early customer orders ahead of
    future price increases compared to the prior period. Revenue increased
    5% (3% excluding the impact of foreign exchange) to $117 million as a
    result of an increase in average price per case and favorable product
    mix, including growth in the energy and sports drinks categories.
    
    
--  Mexico filled beverage case volume was 7 million cases compared to 8
    million cases. Revenue was lower by 15% (17% excluding the impact of
    foreign exchange) at $10 million due primarily to the loss of a
    regional brand license at the end of its term.
    
    
--  RCI concentrate volume was 58 million cases compared to 55 million
    cases. Revenue increased 11% to $6 million due primarily to the timing
    of shipments to customers in Asia.

  
FISCAL YEAR 2012 PERFORMANCE SUMMARY  


 
--  Total filled beverage case volume (excluding concentrate sales) was
    867 million cases compared to 960 million cases. The volume decline
    was due primarily to our decision to exit certain low gross margin
    business in North America and the U.K. as well as a continued general
    decline in the North American CSD and juice categories. Including
    concentrate sales, volume was 1,247 million cases compared to 1,314
    million cases. Concentrate volume grew 7% due primarily to increased
    volume from a new customer in South America and the timing of
    shipments to customers in Asia.
    
    
--  Revenue was lower by 4% (3% excluding the impact of foreign exchange)
    at $2,251 million. An overall increase in average price per case
    globally and favorable product mix in the U.K. was offset by overall
    lower volumes and a product mix shift into juice drinks and sports
    drinks from 100% shelf-stable juice in North America.
    
    
--  Gross profit as a percentage of revenue increased 110 basis points to
    12.9% compared to 11.8%. The margin improvement was due primarily to
    an increase in average price per case and our exit from certain low
    gross margin business globally, as well as increased operational
    efficiencies in North America.
    
    
--  SG&A expenses were $178 million compared to $173 million. The
    modest increase in S
G&A expenses was driven primarily by higher
    employee-related costs compared to a lowering of the annual incentive
    and long-term incentive accruals in the prior year partially offset by
    lower information technology expenses in 2012.
    
    
--  Income before income taxes increased 41% to $57 million compared to
    $41 million.
    
    
--  Income taxes increased to a $5 million tax expense compared to a $1
    million tax benefit.
    
    
--  EBITDA increased 8% to $209 million compared to $193 million. Adjusted
    EBITDA increased 7% to $213 million compared to $199 million.
    
    
--  Free cash flow was $103 million arising from $173 million of net cash
    provided by operating activities less $70 million of capital
    expenditures, compared to $115 million of free cash flow arising from
    $164 million of net cash provided by operating activities less $49
    million of capital expenditures.

  
FISCAL YEAR 2012 REPORTING SEGMENT HIGHLIGHTS  


 
--  North America filled beverage case volume was 652 million cases
    compared to 728 million cases. Revenue was lower by 6% (5% excluding
    the impact of foreign exchange) at $1,707 million as an increase in
    average price per case was more than offset by our exit from certain
    low gross margin business, a continued general decline in the North
    American CSD and juice categories and a product mix shift into juice
    drinks and sports drinks from 100% shelf-stable juice.
    
    
--  U.K. filled beverage case volume was 190 million cases compared to 195
    million cases due primarily to our exit from certain low gross margin
    business as well as poor weather in the summer months. Revenue
    increased 6% (7% excluding the impact of foreign exchange) to $473
    million as a result of an increase in average price per case and
    favorable product mix, including growth in the energy and sports
    drinks categories.
    
    
--  Mexico filled beverage case volume was 26 million cases compared to 37
    million cases. Revenue was lower by 25% (18% excluding the impact of
    foreign exchange) at $39 million due primarily to the loss of a
    regional brand license at the end of its term, partially offset by
    increased contract manufacturing volume.
    
    
--  RCI concentrate volume was 278 million cases compared to 259 million
    cases. Revenue increased 22% to $31 million due primarily to increased
    volume from a new customer in South America and the timing of
    shipments to customers in Asia.

  
Declaration of Dividend
 Cott announced today that it has declared a
dividend of CAD$0.06 per share on its outstanding common shares. The
dividend is payable in cash on April 5, 2013 to shareowners of record
at the close of business on March 20, 2013. 
Cott intends to pay a regular quarterly dividend on its common shares
subject to, among other things, the best interests of its
shareholders, Cott's results of operations, cash balances and future
cash requirements, financial condition, statutory regulations and
covenants set forth in Cott's asset-based credit lending facility and
indentures governing the senior notes due in 2017 and senior notes
due in 2018, as well as other factors that the Board of Directors may
deem relevant from time to time. 
Fourth Quarter and Fiscal Year Results Conference Call 
 Cott
Corporation will host a conference call today, February 15, 2013, at
10:00 a.m. EST, to discuss fourth quarter and fiscal year results,
which can be accessed as follows:  
North America: (877) 407-8031
 International: (201) 689-8031 
A live audio webcast will be available through Cott's website at
http://www.cott.com. The earnings conference call will be recorded
and archived for playback on the investor relations section of the
website for a period of two weeks following the event. 
About Cott Corporation 
 Cott is one of the world's largest producers
of beverages on behalf of retailers, brand owners and distributors.
Cott produces multiple types of beverages in a variety of packaging
formats and sizes, including carbonated soft drinks, 100% shelf
stable juice and juice-based products, clear, still and sparkling
flavored waters, energy products, sports products, new age beverages,
and ready-to-drink teas, as well as alcoholic beverages for brand
owners. Cott's large manufacturing footprint, substantial research
and development capability and high-level of quality and customer
service enables Cott to offer its customers a strong value-added
proposition of low cost, high quality products. With approximately
4,000 employees, Cott operates manufacturing facilities in the United
States, Canada, the United Kingdom and Mexico. Cott also develops and
manufactures beverage concentrates, which it exports to over 50
countries around the world. 
Defined Terms 
 Certain defined terms used in this press release
include the following. "GAAP" means U.S. generally accepted
accounting principles. "Total filled beverage case volume" means
filled beverage 8-ounce equivalents. "EBITDA" means GAAP earnings
(loss) before interest, taxes, depreciation and amortization.
"Adjusted EBITDA" means GAAP earnings (loss) before interest, taxes,
depreciation and amortization, excluding purchase accounting
adjustments, integration expenses, restructuring expenses and asset
impairments. "Free cash flow" means GAAP net cash provided by
operating activities less capital expenditures. See the accompanying
reconciliation of Cott's EBITDA and Adjusted EBITDA to its GAAP net
income, and Cott's free cash flow to its GAAP net cash provided by
operating activities, as well as the "Non-GAAP Measures" paragraph
below. 
Non-GAAP Measures
 To supplement its reporting of financial measures
determined in accordance with GAAP, Cott utilizes certain non-GAAP
financial measures. Cott excludes from GAAP revenue the impact of
foreign exchange to separate the impact of currency exchange rate
changes from Cott's results of operations. Cott utilizes EBITDA and
Adjusted EBITDA to separate the impact of certain items from the
underlying business. Because Cott uses these adjusted financial
results in the management of its business, management believes this
supplemental information is useful to investors for their independent
evaluation and understanding of Cott's underlying business
performance and the performance of its management. Additionally, Cott
supplements its reporting of net cash provided by operating
activities determined in accordance with GAAP by excluding capital
expenditures to present free cash flow, which management believes
provides useful information to investors about the amount of cash
generated by the business that, after the acquisition of property and
equipment, can be used for strategic opportunities, including
investing in our business, making strategic acquisitions, pay
dividends, and strengthening the balance sheet. The non-GAAP
financial measures described above are in addition to, and not meant
to be considered superior to, or a substitute for, Cott's financial
statements prepared in accordance with GAAP. In addition, the
non-GAAP financial measures included in this earnings announcement
reflect management's judgment of particular items, and may be
different from, and therefore may not be comparable to, similarly
titled measures reported by other companies.  
Safe Harbor Statements
 This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934 conveying
management's expectations as to the future based on plans, estimates
and projections at the time Cott makes the statements.
Forward-looking statements involve inherent risks and uncertainties
and Cott cautions you that a number of important factors could cause
actual results to differ materially from those contained in any such
forward-looking statement. The forward-looking statements contained
in this press release include, but are not limited to, statements
related to the declaration of future dividends, the amount of shares
that may be repurchased under the share repurchase program, future
financial operating results and related matters. The forward-looking
statements are based on assumptions regarding management's current
plans and estimates. Management believes these assumptions to be
r
easonable but there is no assurance that they will prove to be
accurate.  
Factors that could cause actual results to differ materially from
those described in this press release include, among others: Cott's
ability to compete successfully; changes in consumer tastes and
preferences for existing products and Cott's ability to develop and
timely launch new products that appeal to such changing consumer
tastes and preferences; a loss of or reduction in business with key
customers, particularly Walmart; fluctuations in commodity prices and
Cott's ability to pass on increased costs to its customers, and the
impact of those increased prices on Cott's volumes; Cott's ability to
manage its operations successfully; currency fluctuations that
adversely affect the exchange between the U.S. dollar and the British
pound sterling, the Euro, the Canadian dollar, the Mexican peso and
other currencies; Cott's ability to maintain favorable arrangements
and relationships with its suppliers; the significant amount of
Cott's outstanding debt and Cott's ability to meet its obligations
under its debt agreements; Cott's ability to maintain compliance with
the covenants and conditions under its debt agreements; fluctuations
in interest rates; credit rating changes; the impact of global
financial events on Cott's financial results; Cott's ability to fully
realize the expected cost savings and/or operating efficiencies from
its restructuring activities; any disruption to production at Cott's
beverage concentrates or other manufacturing facilities; Cott's
ability to protect its intellectual property; compliance with product
health and safety standards; liability for injury or illness caused
by the consumption of contaminated products; liability and damage to
Cott's reputation as a result of litigation or legal proceedings;
changes in the legal and regulatory environment in which Cott
operates; the impact of proposed taxes on soda and other sugary
drinks; enforcement of compliance with the Ontario Environmental
Protection Act; unseasonably cold or wet weather, which could reduce
the demand for Cott's beverages; the impact of national, regional and
global events, including those of a political, economic, business and
competitive nature; Cott's ability to recruit, retain, and integrate
new management and a new management structure; Cott's exposure to
intangible asset risk; Cott's ability to renew its collective
bargaining agreements on satisfactory terms; disruptions in Cott's
information systems; compliance with product health and safety
standards; and the volatility of Cott's stock price. 
The foregoing list of factors is not exhaustive. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. Readers are urged
to carefully review and consider the various disclosures, including
but not limited to risk factors contained in Cott's Annual Report on
Form 10-K for the fiscal year ended December 31, 2011 and its
quarterly reports on Form 10-Q, as well as other periodic reports
filed with the securities commissions. Cott does not undertake to
update or revise any of these statements in light of new information
or future events, except as expressly required by applicable law.  
Website: www.cott.com 


 
                                                                            
                                                                            
                                                                  EXHIBIT 1 
COTT CORPORATION                                                            
CONSOLIDATED STATEMENTS OF OPERATIONS                                       
(in millions of U.S. dollars, except share and per share amounts, U.S.      
 GAAP)                                                                      
Unaudited                                                                   
                                                                            
                              For the Three Months                          
                                      Ended            For the Year Ended   
                             ----------------------  ---------------------- 
                                                                            
                              December    December    December    December  
                              29, 2012    31, 2011    29, 2012    31, 2011  
                             ----------  ----------  ----------  ---------- 
                                                                            
Revenue, net                 $    517.2  $    549.2  $  2,250.6  $  2,334.6 
Cost of sales                     456.6       497.8     1,961.1     2,058.0 
                             ----------  ----------  ----------  ---------- 
                                                                            
Gross profit                       60.6        51.4       289.5       276.6 
                                                                            
Selling, general and                                                        
 administrative expenses           43.6        44.4       178.0       172.7 
Loss on disposal of                                                         
 property, plant & equipment        0.1         0.7         1.8         1.2 
Asset impairments                                                           
    Asset impairments                 -         0.6           -         0.6 
    Intangible asset                                                        
     impairments                      -         1.4           -         1.4 
                                                                            
                             ----------  ----------  ----------  ---------- 
Operating income                   16.9         4.3       109.7       100.7 
                                                                            
Contingent consideration                                                    
 earn-out adjustment                0.6           -         0.6         0.9 
Other expense (income), net         0.2         1.0        (2.0)        2.2 
Interest expense, net              13.6        13.7        54.2        57.1 
                             ----------  ----------  ----------  ---------- 
                                                                            
Income (loss) before income                                                 
 taxes                              2.5       (10.4)       56.9        40.5 
                                                                            
Income tax (benefit) expense       (0.9)        1.0         4.6        (0.7)
                             ----------  ----------  ----------  ---------- 
                                                                            
Net income (loss)            $      3.4  $    (11.4) $     52.3  $     41.2 
                                                                            
Less: Net income                                                            
 attributable to non-                                                       
 controlling interests              1.1         0.5         4.5         3.6 
                             ----------  ----------  ----------  ---------- 
                                                                            
Net income (loss) attributed                                                
 to Cott Corporation         $      2.3  $    (11.9) $     47.8  $     37.6 
                             ==========  ==========  ==========  ========== 
                                                                            
Net income (loss) per common                                                
 share attributed to Cott                                                   
 Corporation                                                                
  Basic                      $     0.02  $    (0.13) $     0.51  $     0.40 
  Diluted                    $     0.02  $    (0.12) $     0.50  $     0.40 
                                                                            
Weighted average outstanding                                                
 shares (millions)                                                          
 attributed to Cott                                                         
 Corporation                                                                
  Basic                            94.8        94.4        94.6        94.2 
  Diluted                          95.2        95.4        94.8        95.0 
                                                                            
                                                                            
                                                                            
                                                                  EXHIBIT 2 
COTT CORPORATION                                                            
CONSOLIDAT
ED BALANCE SHEETS                                                 
(in millions of U.S. dollars, except share amounts, U.S. GAAP)              
Unaudited                                                                   
                                                                            
                                                 -------------------------- 
                                                 December 29,  December 31, 
                                                     2012          2011     
                                                 ------------  ------------ 
ASSETS                                                                      
Current assets                                                              
Cash & cash equivalents                          $      179.4  $      100.9 
Accounts receivable, net of allowance                   199.4         210.8 
Income taxes recoverable                                  1.2           9.9 
Inventories                                             224.8         210.0 
Prepaid expenses and other assets                        20.3          19.3 
                                                 ------------  ------------ 
                                                                            
Total current assets                                    625.1         550.9 
                                                                            
                                                                            
Property, plant & equipment                             490.9         482.2 
Goodwill                                                130.3         129.6 
Intangibles and other assets                            315.4         341.1 
Deferred income taxes                                     3.3           4.1 
Other tax receivable                                      0.9           1.0 
                                                 ------------  ------------ 
                                                                            
Total assets                                     $    1,565.9  $    1,508.9 
                                                 ============  ============ 
                                                                            
LIABILITIES AND EQUITY                                                      
Current liabilities                                                         
Current maturities of long-term debt             $        1.9  $        3.4 
Accounts payable and accrued liabilities                287.7         281.1 
                                                 ------------  ------------ 
                                                                            
Total current liabilities                               289.6         284.5 
                                                                            
Long-term debt                                          601.8         602.1 
Deferred income taxes                                    39.1          34.1 
Other long-term liabilities                              12.5          20.0 
                                                 ------------  ------------ 
                                                                            
Total liabilities                                       943.0         940.7 
                                                                            
Equity                                                                      
Capital stock, no par - 95,371,484 (December 31,                            
 2011 - 95,101,230) shares issued                       397.8         395.9 
Treasury stock                                              -          (2.1)
Additional paid-in-capital                               40.4          42.6 
Retained earnings                                       186.0         144.1 
Accumulated other comprehensive loss                    (12.4)        (24.7)
                                                 ------------  ------------ 
Total Cott Corporation equity                           611.8         555.8 
Non-controlling interests                                11.1          12.4 
                                                 ------------  ------------ 
                                                                            
Total equity                                            622.9         568.2 
                                                 ------------  ------------ 
                                                                            
Total liabilities and equity                     $    1,565.9  $    1,508.9 
                                                 ============  ============ 
                                                                            
                                                                            
                                                                            
                                                                  EXHIBIT 3 
COTT CORPORATION                                                            
CONSOLIDATED STATEMENTS OF CASH FLOWS                                       
(in millions of U.S. dollars)                                               
Unaudited                                                                   
                                                                            
                              For the Three Months                          
                                      Ended            For the Year Ended   
                             ----------------------  ---------------------- 
                                                                            
                              December    December    December    December  
                              29, 2012    31, 2011    29, 2012    31, 2011  
                             ----------  ----------  ----------  ---------- 
                                                                            
Operating Activities                                                        
  Net income                 $      3.4  $    (11.4) $     52.3  $     41.2 
  Depreciation &                                                            
   amortization                    25.5        23.9        97.7        95.3 
  Amortization of financing                                                 
   fees                             0.8         1.0         3.7         3.9 
  Share-based compensation                                                  
   expense                          1.4         0.7         4.9         2.9 
  (Decrease) increase in                                                    
   deferred income taxes           (0.8)       (1.4)        3.8        (3.7)
  Gain on bargain purchase            -           -        (0.9)          - 
  Loss on disposal of                                                       
   property, plant &                                                        
   equipment                        0.1         0.7         1.8         1.2 
  Asset impairments                   -         0.6           -         0.6 
  Intangible asset                                                          
   impairments                        -         1.4           -         1.4 
  Contract termination                                                      
   payments                           -           -           -        (3.1)
  Other non-cash items              0.4         3.2        (0.4)        4.9 
  Change in operating assets                                                
   and liabilities, net of                                                  
   acquisition:                                                             
    Accounts receivable            51.8        36.5        15.0        (5.0)
    Inventories                    (6.2)        6.1       (12.1)        6.5 
    Prepaid expenses and                                                    
     other a
ssets                   5.2         4.9        (0.3)        5.8 
    Other assets                    0.2        (0.9)        0.9        (0.7)
    Accounts payable and                                                    
     accrued liabilities,                                                   
     and other liabilities         36.2        34.4        (2.2)       11.5 
    Income taxes recoverable        2.0         4.2         8.8         0.8 
                             ----------  ----------  ----------  ---------- 
      Net cash provided by                                                  
       operating activities       120.0       103.9       173.0       163.5 
                             ----------  ----------  ----------  ---------- 
                                                                            
Investing Activities                                                        
    Acquisition                       -        (8.6)       (9.7)      (34.3)
    Additions to property,                                                  
     plant & equipment            (19.1)      (17.4)      (69.7)      (48.8)
    Additions to intangibles                                                
     and other assets              (0.5)       (1.8)       (5.2)       (5.7)
    Proceeds from sale of                                                   
     property, plant &                                                      
     equipment                        -         0.3         2.3         0.4 
    Proceeds from insurance                                                 
     recoveries                     0.2           -         1.9           - 
    Other investing                                                         
     activities                       -           -           -        (1.8)
                             ----------  ----------  ----------  ---------- 
      Net cash used in                                                      
       investing activities       (19.4)      (27.5)      (80.4)      (90.2)
                             ----------  ----------  ----------  ---------- 
                                                                            
Financing Activities                                                        
    Payments of long-term                                                   
     debt                          (0.5)       (1.6)       (3.3)       (6.8)
    Borrowings under ABL              -           -        24.5       224.1 
    Payments under ABL                -           -       (24.5)     (231.9)
    Distributions to non-                                                   
     controlling interests         (2.3)       (1.8)       (5.6)       (6.0)
    Exercise of options               -           -           -         0.3 
    Common share repurchase           -           -        (0.3)          - 
    Dividends to                                                            
     shareholders                  (5.8)          -        (5.8)          - 
    Financing fees                    -         0.1        (1.2)          - 
                             ----------  ----------  ----------  ---------- 
      Net cash used in                                                      
       financing activities        (8.6)       (3.3)      (16.2)      (20.3)
                             ----------  ----------  ----------  ---------- 
                                                                            
Effect of exchange rate                                                     
 changes on cash                   (0.7)       (0.4)        2.1        (0.3)
                                                                            
                             ----------  ----------  ----------  ---------- 
Net increase in cash & cash                                                 
 equivalents                       91.3        72.7        78.5        52.7 
                                                                            
Cash & cash equivalents,                                                    
 beginning of period               88.1        28.2       100.9        48.2 
                             ----------  ----------  ----------  ---------- 
                                                                            
Cash & cash equivalents, end                                                
 of period                   $    179.4  $    100.9  $    179.4  $    100.9 
                             ==========  ==========  ==========  ========== 
                                                                            
Supplemental Noncash                                                        
 Financing Activities:                                                      
    Capital lease additions  $      0.3  $      0.1  $      1.0  $      0.2 
    Common stock repurchased                                                
     through accrued                                                        
     expenses                $      2.9  $        -  $      2.9  $        - 
                                                                            
                                                                            
                                                                            
                                                                  EXHIBIT 4 
COTT CORPORATION                                                            
SEGMENT INFORMATION                                                         
(in millions of U.S. dollars or 8 oz equivalent cases, U.S. GAAP)           
Unaudited                                                                   
                                                                            
                              For the Three Months                          
                                      Ended            For the Year Ended   
                             ----------------------  ---------------------- 
                              December    December    December    December  
                              29, 2012    31, 2011    29, 2012    31, 2011  
                             ----------  ----------  ----------  ---------- 
                                                                            
Revenue                                                                     
  North America              $    384.3  $    421.1  $  1,707.4  $  1,809.3 
  United Kingdom                  117.0       111.1       473.2       447.9 
  Mexico                            9.8        11.5        38.8        51.8 
  RCI                               6.1         5.5        31.2        25.6 
                             ----------  ----------  ----------  ---------- 
                             $    517.2  $    549.2  $  2,250.6  $  2,334.6 
                             ==========  ==========  ==========  ========== 
                                                                            
                                                                            
Operating income (loss)                                                     
  North America              $     10.9  $     (0.2) $     78.3  $     70.4 
  United Kingdom                    5.6         4.8        27.1        27.5 
  Mexico                           (0.4)       (1.4)       (3.6)       (4.4)
  RCI                               0.8         1.1         7.9         7.2 
                             ----------  ----------  ----------  ---------- 
                             $     16.9  $      4.3  $    109.7  $    100.7 
                             ==========  ==========  ==========  ========== 
                                                                            
                                                                            
Volume - 8 oz equivalent                                                    
 cases - Total Beverage                                                     
 (including co
ncentrate)                                                    
  North America                   165.3       188.4       739.2       808.7 
  United Kingdom                   49.6        51.7       204.1       209.0 
  Mexico                            6.6         8.2        25.6        37.1 
  RCI                              58.0        55.1       278.2       259.4 
                             ----------  ----------  ----------  ---------- 
                                  279.5       303.4     1,247.1     1,314.2 
                             ==========  ==========  ==========  ========== 
                                                                            
                                                                            
Volume - 8 oz equivalent                                                    
 cases - Filled Beverage                                                    
  North America                   145.9       170.3       651.5       727.6 
  United Kingdom                   46.4        48.9       189.5       194.7 
  Mexico                            6.6         8.2        25.6        37.1 
  RCI                               0.1         0.1         0.4         0.1 
                             ----------  ----------  ----------  ---------- 
                                  199.0       227.5       867.0       959.5 
                             ==========  ==========  ==========  ========== 
                                                                            
                                                                            
                                                                            
                                                                  EXHIBIT 5 
COTT CORPORATION                                                            
SUPPLEMENTARY INFORMATION - NON-GAAP - Analysis of Revenue by Reporting     
Segment                                                                     
Unaudited                                                                   
                                                                            
                                         For the Three Months Ended         
                                ------------------------------------------- 
(in millions of U.S. dollars,                                               
 except percentage amounts)                  December 29, 2012              
                                ------------------------------------------- 
                                            North    United                 
                                 Cott(1)   America   Kingdom  Mexico   RCI  
                                --------  --------  --------  ------  ----- 
Change in revenue               $  (32.0) $  (36.8) $    5.9  $ (1.7) $ 0.6 
Impact of foreign exchange(2)       (2.8)     (0.3)     (2.3)   (0.2)     - 
                                --------  --------  --------  ------  ----- 
Change excluding foreign                                                    
 exchange                       $  (34.8) $  (37.1) $    3.6  $ (1.9) $ 0.6 
                                --------  --------  --------  ------  ----- 
Percentage change in revenue        -5.8%     -8.7%      5.3%  -14.8%  10.9%
                                --------  --------  --------  ------  ----- 
Percentage change in revenue                                                
 excluding foreign exchange         -6.3%     -8.8%      3.2%  -16.5%  10.9%
                                --------  --------  --------  ------  ----- 
                                                                            
                                                                            
                                             For the Year Ended             
                                ------------------------------------------- 
(in millions of U.S. dollars,                                               
 except percentage amounts)                  December 29, 2012              
                                ------------------------------------------- 
                                            North    United                 
                                 Cott(1)   America   Kingdom  Mexico   RCI  
                                --------  --------  --------  ------  ----- 
Change in revenue               $  (84.0) $ (101.9) $   25.3  $(13.0) $ 5.6 
Impact of foreign exchange(2)       14.4       4.7       6.0     3.7      - 
                                --------  --------  --------  ------  ----- 
Change excluding foreign                                                    
 exchange                       $  (69.6) $  (97.2) $   31.3  $ (9.3) $ 5.6 
                                --------  --------  --------  ------  ----- 
Percentage change in revenue        -3.6%     -5.6%      5.6%  -25.1%  21.9%
                                --------  --------  --------  ------  ----- 
Percentage change in revenue                                                
 excluding foreign exchange         -3.0%     -5.4%      7.0%  -18.0%  21.9%
                                --------  --------  --------  ------  ----- 
                                                                            
(1) Cott includes the following reporting segments: North America, United   
    Kingdom, Mexico and RCI.                                                
(2) Impact of foreign exchange is the difference between the current year's 
    revenue translated utilizing the current year's average foreign exchange
    rates less the current year's revenue translated utilizing the prior    
    year's average foreign exchange rates.                                  
                                                                            
                                                                            
                                                                            
                                                                  EXHIBIT 6 
COTT CORPORATION                                                            
SUPPLEMENTARY INFORMATION - NON-GAAP - EARNINGS BEFORE INTEREST, TAXES,     
 DEPRECIATION & AMORTIZATION                                                
(EBITDA)                                                                    
(in millions of U.S. dollars)                                               
Unaudited                                                                   
                                                                            
                              For the Three Months                          
                                      Ended            For the Year Ended   
                             ----------------------  ---------------------- 
                              December    December     December   December  
                              29, 2012    31, 2011     29, 2012   31, 2011  
                             ----------  ----------  ----------- ---------- 
                                                                            
Net income (loss) attributed                                                
 to Cott Corporation         $      2.3  $    (11.9) $      47.8 $     37.6 
Interest expense, net              13.6        13.7         54.2       57.1 
Income tax (benefit) expense       (0.9)        1.0          4.6       (0.7)
Depreciation & amortization        25.5        23.9         97.7       95.3 
Net income attributable to                                                  
 non-controlling interests          1.1         0.5          4.5        3.6 
                             ----------  ----------  ----------- ---------- 
EBITDA                       $     41.6  $     27.2  $     208.8 $    192.9 
                                                                            
Asset impairments                                                           
  Asset impairments                   -         0.6            -        0.6 
  Intangible ass
et                                                          
   impairments                        -         1.4            -        1.4 
                                                                            
Acquisition adjustments                                                     
  Earnout adjustment                0.6           -          0.6        0.9 
  Inventory step-up (step-                                                  
   down)                              -         0.3          0.1       (3.5)
  Integration costs                 0.3         0.8          3.4        3.8 
  Legal accrual                       -         2.1            -        2.9 
                             ----------  ----------  ----------- ---------- 
Adjusted EBITDA              $     42.5  $     32.4  $     212.9 $    199.0 
                             ==========  ==========  =========== ========== 
                                                                            
                                                                            
                                                                            
                                                                  EXHIBIT 7 
COTT CORPORATION                                                            
SUPPLEMENTARY INFORMATION - NON-GAAP - FREE CASH FLOW                       
(in millions of U.S. dollars)                                               
Unaudited                                                                   
                                                                            
                                               For the Three Months Ended   
                                             ------------------------------ 
                                              December 29,    December 31,  
                                                  2012            2011      
                                             --------------  -------------- 
                                                                            
Net cash provided by operating activities    $        120.0  $        103.9 
  Less: Capital expenditures                          (19.1)          (17.4)
                                             --------------  -------------- 
Free Cash Flow                               $        100.9  $         86.5 
                                             ==============  ============== 
                                                                            
                                                   For the Year Ended       
                                             ------------------------------ 
                                              December 29,    December 31,  
                                                  2012            2011      
                                             --------------  -------------- 
                                                                            
Net cash provided by operating activities    $        173.0  $        163.5 
  Less: Capital expenditures                          (69.7)          (48.8)
                                             --------------  -------------- 
Free Cash Flow                               $        103.3  $        114.7 
                                             ==============  ============== 

  
CONTACT:
Michael C. Massi 
Investor Relations
Tel: (813) 313-1786
Investorrelations@cott.com 
 
 
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