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SodaStream Reports 33% Q1 Revenue Gains

SodaStream International Ltd. today reported first quarter revenue gains of 33.9% to $117.6 million from $87.9 million in the 2012 period. The company reported that net income increased 19.5% to $12.1 million compared to $10.1 million in the first quarter 2012, and adjusted net income was $14.5 million compared to $11.5 million in the year-earlier quarter.

In reporting its results, the company also indicated that EBITDA increased 22.7% to $16.4 million from $13.4 million, and adjusted EBITDA increased 27.2% to $18.8 million from $14.8 million in the first quarter 2012.

“Our first quarter performance was highlighted by record consumable sales driven by strong gains in several of our largest markets,” said Daniel Birnbaum, SodaStream CEO. “Growth was led by the U.S., where household penetration and consumer usage continue to expand as evidenced by soda maker, gas refill and syrup unit growth of 78%, 101% and 119%, respectively, versus the same period a year ago. As we head into the summer selling season, we will continue to dedicate resources to support further growth in the U.S. and other key markets.  We continue to successfully build our business for the long term through strategic investments in product innovation, demand creation and manufacturing capacity. We believe that this strategy will drive sales and earnings growth and deliver increased shareholder value.”