EveryWare Global Reports Second Quarter Financial Results

EveryWare Global, Inc. today announced its financial results for the three and six months ended June 30, 2013. Total revenue for the second quarter of 2013 increased $2.5 million, or 2.5%, from $98.4 million in the second quarter of 2012 to $100.8 million in the second quarter of 2013 (excluding currency fluctuation, the revenue increase is 2.7%). The increase in second quarter revenue is primarily attributable to strong growth in the international and specialty segments, the company noted.

Total revenue for the six months ended June 30, 2013 increased $5.4 million, or 2.8%, from $194.8 million for the six months ended June 30, 2012 to $200.2 million for the six months ended June 30, 2013 (excluding currency fluctuation, the revenue increase is 3%).

International segment revenue in the second quarter of 2013 and the six months ended June 30, 2013, increased 25.2% to $9.2 million, and 11.6% to $18 million, respectively, versus the prior year periods. Excluding currency fluctuation, international segment revenue increased by 27.5% and 14%, for the second quarter of 2013 and the six months ended June 30, 2013, respectively.

EBITDA for the second quarter of 2013 increased 19.5% to $13.8 million, up from $11.5 million in the second quarter of 2012. EBITDA for the six months ended June 30, 2013 increased 32.4% to $22.9 million, up from $17.3 million for the six months ended June 30, 2012.  

Adjusted EBITDA for the second quarter of 2013 decreased 2% to $16 million, down from $16.3 million in the second quarter of 2012. The decrease in Adjusted EBITDA for the second quarter of 2013 is primarily the result of the planned shutdown of the company’s Monaca plant in the quarter, relating to a 2012 refurbishment. Adjusted EBITDA for the six months ended June 30, 2013 increased 3.3% to $27.5 million, up from $26.6 million for the six months ended June 30, 2012.

Net loss totaled $2.2 million for the second quarter of 2013, compared to net income of $2.6 million for the second quarter of 2012. After adjusting for the impact of certain one-time non-operational items related to the company’s going public process in May 2013, second quarter 2013 adjusted net income would have been $3.9 million and EPS would have been $0.27 per share.  Adjusted net income is lower than 2012 adjusted net income of $5.4 million due to the impact of the Monaca plant shutdown and higher interest expense. Net loss totaled $2 million for the six months ended June 30, 2013 compared to a net loss of $3.7 million for the six months ended June 30, 2012.

John Sheppard, EveryWare’s CEO, stated: “I am extremely pleased that our growth continued in the second quarter and first half of the year and that our results were in line with our internal expectations. The fundamentals and outlook for our business and industry remain strong. Given our continued focus on innovation, as well as our world class brands and customer service, we believe that we are well positioned for a strong second half of the year. During the second quarter, we continued to realize the benefit of the Oneida and Anchor Hocking combination, and are encouraged by the accelerating growth in our international segment. The acquisition of the Samuel Groves and George Wilkinson businesses in the U.K. and our Brazilian licensing agreement strengthen our international presence and underscore our commitment to building our global platform. Looking ahead, we remain committed to achieving our financial targets for the year.”


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