SodaStream profit triples

Daniel Birnbaum (Photo: Eyal Yitzhar)

CEO Birnbaum: We are the world's largest brand of carbonated water.

Israeli company SodaStream International Ltd. (Nasdaq: SODA) today published its financial statements for the fourth quarter of 2016, reporting a 17% surge to $132 million in revenue. Revenue for all of 2016 grew 14% to $476 million. SodaStream's business grew in almost all regions, but especially in Germany, Canada, the US, Scandinavian countries, Switzerland, and Japan.

Other figures contributing to its revenue included a 22% jump in sales of home carbonation systems, which totaled 941,000 units. Fourth quarter gas cartridge sales totaled 7.4 million units.

SodaStream's operating profit rose 213% to $18.8 million, amounting to 14.3% of sales, an all-time quarterly record for the company. The company's net profit totaled $15.6 million, a 213% increase, compared with the fourth quarter of 2015. The company's net profit for all of 2016 reached a record $44.5 million.

"We are very satisfied with our growth trend, which picked up speed during the year, as well as the strengthening of the SodaStream brand as a key player in the global beverages market," says SodaStream CEO Daniel Birnbaum. "The results from the past year are evidence of the success of our strategic plan, which has boosted the global penetration rates of the company's product to 11 million households, with a new one-year record in sales of gas cartridges, which grew 10% to 29 million units. SodaStream customers consumed 1.6 billion liters of carbonated drinks, making us the world's largest brand of carbonated water. More and more consumers are connecting to the company's messages and leaving purchases of bottled carbonated beverages in favor of carbonated water from SodaStream devices."

SodaStream manufactures home carbonation systems that enable the consumer to turn tap ordinary water into carbonated water or flavored carbonated water. The company's market cap is $1 billion, after its share price soared more than 250% over the past year. SodaStream's share price is up 8% so far in today's Wall Street trading.

Published by Globes [online], Israel Business News - - on February 15, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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Daniel Birnbaum (Photo: Eyal Yitzhar)
Daniel Birnbaum (Photo: Eyal Yitzhar)
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