Third quarter sales at SodaStream were up double-digits as efforts to position the brand around sparkling water continues to pay dividends, company officials said.
Total revenue for the three month period ended September 30 was $124.2 million, up 13% over the same quarter the previous year. EBITDA increased 140.6% to $23.3 million and net income increased 217.4% to $14.9 million. Diluted earnings per share increased to $0.69 compared to $0.22 in the third quarter 2015.
From a geographic segment standpoint, sales in Western Europe were up 9% to $74.7 million, while sales in the Americas were $29.8 million, an increase of 14%. In addition, sales in Asia-Pacific were $9 million, up 43%; with sales in Central and Eastern Europe, Middle East and Africa reaching 6.3 million units, an increase of 9%.
“We believe that repositioning the SodaStream brand around sparkling water combined with effective marketing programs is setting the foundation for an acceleration in household penetration in each of our geographic regions,” said Daniel Birnbaum, SodaStream CEO.
The company sold 788,000 sparkling water maker units, the highest quarterly figure in nearly two years, he said. In addition, SodaStream also reported a quarterly record 7.7 million gas refills.