SodaStream reported a double-digit increase in first quarter sales driven mainly by gains in Europe, the Middle East and Asia.
Net revenue for the quarter ended March 31 was $100.9 million, up 10.4% from sales in the comparable quarter the previous year. Sales in Central and Eastern Europe, Middle East and Africa were $6.6 million, up 32%. Sales in Western Europe were $62.6 million, up 15%. Sales in the Americas were largely flat.
“Our first quarter results demonstrate that our growth plan, which centers 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.
Birnbaum said the company moves forward focused on continuing to execute its growth plan, including in the U.S., where he said SodaStream’s efforts are concentrated on developing the “right marketing message and enhancing our in-store presence.”