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US: Monster FY sales up, but profits stilted by legal costs

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  • Full-year net profits flat at US$338.7m
  • Net sales in 2013 up 9% to $2.3bn
  • FY operating profits rise 4% to $572.9m
  • Q4 net sales up 14.7% to $540.8m

Monster Beverage Corp has reported a healthy rise in full-year sales, but profits continue to be held back by on-going legal issues over the safety and marketing of the group’s products. 

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The California-based energy drinks producer said today (27 February) that net profits in the 12 months to the end of December were flat at US$338.7m. Net sales in the 12 months were up 9%, while operating profits rose by 4% to $572.9m. 

In Q4, net profits climbed by 12% to $76.1m, as sales rose by 14.7% to $540.8m. Operating profits in the final three months of 2013 were up by 18.3% to $134.8m. 

The company said its fourth-quarter and full-year profits were affected by “foreign currency transaction losses and professional service costs related to regulatory matters and litigation concerning the advertising, marketing, promotion, ingredients, usage, safety and sale” of its energy drinks. 

The company has faced a number of lawsuits and scrutiny from regulators over safety concerns and the way it markets its energy drinks. Monster argues its products are safe. 

Rodney Sacks, Monster’s chairman & CEO, said the company had seen sales growth in both its domestic and international markets. “The Monster Energy brand has continued to achieve growth in excess of the energy category and to increase market share in its major markets.” 

Sacks also flagged that Monster has launched its brands in India and plans to expand to other global markets. 

To read the company's full statement, click here


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