ISRAEL: Sodastream profits slow in YTD, but sales up
- Nine-month net profits up 13.8% to US$41.3m
- YTD net sales rise 30% to $394.6m
- Operating profits up 23% to $46.3m
- FY outlook maintained
Sodastream is maintaining its full-year outlook
Sodastream International has seen its profits growth slow in the year-to-date, but sales stayed buoyant.
Net profits in the nine-months to the end of September rose by 13.8% to US$41.3m, the Israel-based group said today (30 October). It represents a slowdown on a 28% lift in first-half net profits.
Sales in the nine months jumped by 30%, while operating profits for the drinks carbonation system manufacturer came in at $46.3m, a rise of 23%.
In Q3, net profits fell by 2.2% to $16.4m, despite a 28.5% jump in sales to $144.6m. Operating profits in the three-month period rose by 9.6% to $18m.
Western Europe performed strongest for the group, with sales up 43% in Q3. However, its Asia-Pacific business took a hit, with sales down by 21% in the three months.
“We continued to execute against our primary objective of expanding our user base in our fastest growing markets during the third quarter," said Daniel Birnbaum, Sodastream's CEO. “Our progress is being fueled by positive consumer response to our demand creation efforts and innovative products.”
Looking ahead, the company maintained its full-year outlook, with net profits expected to rise 23% on the prior year. Full-year sales are forecast to increase by 30%.
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