SodaStream capped a solid year of growth with a strong fourth quarter as the company reported a sales increase of 19.6% for the three months ended December 31, 2017.
Sales for the quarter were $157.7 million, up from $131.8 million in the fourth quarter of 2016. Operating income increased 36.4% to $25.7 million and net income increased 63.2% to $25.5 million, an all-time high for SodaStream. Earnings per share increased 58.1%.
“Throughout 2017 we successfully executed our growth plan aimed at expanding household penetration and increasing usage of our home carbonation system which translated into mid-teens revenue growth, record net income, and strong cash generation,” said Daniel Birnbaum, SodaStream’s CEO. “These results underscore the strength of our brand and product offering and showcase the power of our business model.”
For the full fiscal year, revenue increased 14.1% to $543.4 million. Operating income increased 49.4% to $81.4 million with net income up 67.3% to $74.4 million. Earnings per share increased 59.4%.
By geographic region, yearly sales in Western Europe were $325.3 million, up 13.5%; up 11% to $127.4 million in The Americas; up 24.8% to $61.9 million in Asia-Pacific; and up 14.3% to $28.8 million in Central and Eastern Europe, the Middle East and Africa.
For 2018, the company expects full-year revenue to increase 12% and operating income to rise 10%.