ISRAEL/US: SodaStream machines drive YTD profits boost
- Nine-month net profits up by 63.9%% to US$36.3m
- Net sales YTD rise by 49.2% to $303.4m
- Operating profits jump by 61% to $37.7m
- Core Western Europe market posts 34% YTD sales increase
SodaStream released its YTD results yesterday
SodaStream has posted a big jump in year-to-date net profits driven by demand for its soda-making machines and strong performance in Europe.
Net profits increased by 63.9%% to US$36.3m in the nine months to the end of September, the Israeli company said yesterday (7 November). Net sales rose by 49.2% to $303.4m over the same period while operating profits rose by 61% to $37.7m.
Sales in Western Europe, which makes up about half of SodaStream's total sales, increased by 34.2%, while sales in the Americas jumped by 82.9% over the same period. The company sold 31% more Soda Maker starter kits, which make carbonated beverages, in this year's third quarter than it did in last year's.
SodaStream CEO Daniel Birnbaum said the performance is ahead of expectations.
“We enter the fourth quarter with strong momentum, especially in the US where we've quickly built a powerful distribution network for our expanding portfolio of soda makers and consumables,” Birnbaum said.
Third-quarter numbers were also strong. While net profits stayed flat at $21m in the three months to the end of September, net sales rose by 48.7% to $112.5m. Operating profits grew by 67.6% to $16.4m.
Birnbaum added: “We are launching our first global branding campaign that highlights the revolutionary essence of SodaStream and challenges the traditional beverage industry. The progress we've made leading the growth of our category worldwide has put the company on track to deliver significant value for our shareholders in the years ahead.”
Sodastream's shares spiked yesterday morning but ended the day almost flat.
To read the company's official statement, click here.
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