SodaStream International has reported that revenue increased 10.4 per cent to $100.9 million in the first quarter of 2016, compared to the same period a year ago, on the back of strong performance in Europe.
The global manufacturer of home beverage carbonation systems said its EBITDA rose 61.7 per cent year-over-year to $12.3 million, while profit was $6.1 million down from $8.4 million in the first quarter of 2015.
“Our first quarter results demonstrate that our growth plan, which centres on repositioning the SodaStream brand around sparkling water and building a stronger, more efficient organization, has started to take hold,” said Daniel Birnbaum, CEO of SodaStream.
“Sales exceeded our expectations driven by strong gains in Europe as our new messaging fueled increased demand for sparkling water makers, gas refills and our enhanced flavour line in turnaround markets like France and the Nordics, while we experienced continued growth in our established countries of Germany, Austria and Switzerland.”
Birnbaum said the company’s operating performance reflects the the consolidation of its manufacturing and logistics activities into its new state-of-the-art facility in Lehavim.
“We move forward focused on continuing to execute our growth plan including in the US where our efforts are concentrated on developing the right marketing message and enhancing our in-store presence. We are confident that the work we are doing will lead to increased profitability and greater shareholder value over the long-term.”
