SodaStream International Ltd., a leading manufacturer of home beverage carbonation systems, announced its results for the three month period ended March 31, 2013.
For the first quarter ended March 31, 2013, total revenue increased 33.9 percent to $117.6 million from $87.9 million in the first quarter 2012. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 22.7 percent to $16.4 million from $13.4 million, and Adjusted EBITDA increased 27.2 percent to $18.8 million from $14.8 million in the first quarter 2012. Net income increased 19.5 percent 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 first quarter 2012. Diluted earnings per share increased 18.8 percent to $0.57, compared to $0.48 in the first quarter 2012 and Adjusted diluted earnings per share were $0.68 compared to $0.55 in the first quarter 2012.
Daniel Birnbaum, chief executive officer of SodaStream, said in a prepared statement, "Our first quarter performance was highlighted by record consumable sales driven by strong gains in several of our largest markets. 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 percent, 101 percent and 119 percent, 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."