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Sodastream International reports surge in quarterly profit

Wednesday, February 15, 2017 7:29
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Sparkling water company Sodastream International (NASDAQ:SODA) reported higher-than-expected fourth quarter profit on Wednesday as revenues grew and the group cut back on its expenses.

In the three months to 31 December 2016, the countertop carbonation-machine maker said underlying earnings (EBITDA) jumped to $15.6mln, or 71c per share, from $5mln a year ago, or 24c a share.  

Revenues gained 17% to $131.9mln from $11.20mln as sales of sparkling water starter kits rose 22% to 941,000 units. Sales of CO2 refills, used to add gas to drinks, increased 10% to 7,413 units. However, sales of flavour cartridges declined 6% to 5,235 units.

Analysts had expected $125.5mln in revenue and 36c earnings per share, according to a poll of analysts by Thomson Reuters.

During the period, Sodastream reined in its expenses in sales and marketing, advertising and promotion and general and administrative.

“Strategies we’ve implemented to build a global brand franchise and accelerate household penetration of our home carbonation system are working successfully,” said chief executive Daniel Birnbaum.

“Consumers are responding positively to our messaging around health and wellness, convenience, and the environment, and are using SodaStream to produce sparkling water in record numbers.”

The company also improved its cash position. At 31 December, the company had a cash balance of $57.3mln with no debt, compared to $34.5mln in cash and $36.8mln the same time in 2015.

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