AIRPORT CITY, Israel,
May 10, 2016 /PRNewswire/
-- SodaStream International Ltd. (NASDAQ: SODA), the world's
leading manufacturer of home beverage carbonation systems,
announced today its results for the three-month period ended
March 31, 2016.
For the first quarter ended March 31,
2016:
- Revenue increased 10.4% to $100.9
million compared to Adjusted revenue* of $91.3 million in the first quarter of 2015
- EBITDA increased 61.7% to $12.3
million compared to Adjusted EBITDA* of $7.6 million in the first quarter of 2015
- Net income was $6.1 million
compared to Adjusted net income* of $8.4
million in the first quarter of 2015, which included a
financial income of $5.7 million
related to currency gains that were unusual in their
magnitude.
- Diluted earnings per share was $0.29 compared to Adjusted diluted earnings per
share* of $0.40 in the first quarter
of 2015
"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," commented Daniel Birnbaum, Chief Executive Officer of
SodaStream. "Sales exceeded our expectations driven by strong gains
in Europe as our new messaging
fueled increased demand for sparkling water makers, gas refills and
our enhanced flavor line in turnaround markets like France and the Nordics, while we experienced
continued growth in our established countries of Germany, Austria and Switzerland. At the same time, our operating
performance reflects the benefits from the consolidation of our
manufacturing and logistics activities into our new
state-of-the-art facility in Lehavim. We move forward focused on
continuing to execute our growth plan including in the U.S. where
our efforts are concentrated on developing the right marketing
message and enhancing our in-store presence. We are confident that
the work we are doing will lead to increased profitability and
greater shareholder value over the long-term."
First Quarter 2016 Financial Review
(The financial
review relates to the Non-IFRS Consolidated Statements of
Operations)
Geographical Revenue
Breakdown
|
|
Three Months
Ended
|
|
|
|
|
|
|
|
|
March 31,
2015*
|
|
|
March 31,
2016
|
|
|
Increase
(decrease)
|
|
|
Increase
(decrease)
|
|
|
In millions
USD
|
|
|
%
|
Western
Europe
|
|
$
|
54.6
|
|
|
$
|
62.6
|
|
|
$
|
8.0
|
|
|
15%
|
The
Americas
|
|
|
22.8
|
|
|
|
22.9
|
|
|
|
0.1
|
|
|
1%
|
Asia-Pacific
|
|
|
9.0
|
|
|
|
8.8
|
|
|
|
(0.2)
|
|
|
(2%)
|
Central & Eastern
Europe, Middle East, Africa
|
|
|
4.9
|
|
|
|
6.6
|
|
|
|
1.7
|
|
|
32%
|
Total
|
|
$
|
91.3
|
|
|
$
|
100.9
|
|
|
$
|
9.6
|
|
|
10%
|
Product Segment
Revenue Breakdown
|
|
Three Months
Ended
|
|
|
|
|
|
|
|
|
|
March 31,
2015*
|
|
|
March 31,
2016
|
|
|
Increase
|
|
|
Increase
|
|
|
In millions
USD
|
|
|
%
|
Sparkling Water Maker
Starter Kits
|
|
$
|
**26.2
|
|
|
$
|
29.6
|
|
|
$
|
3.4
|
|
|
|
13%
|
Consumables
|
|
|
**62.4
|
|
|
|
68.1
|
|
|
|
5.7
|
|
|
|
9%
|
Other
|
|
|
**2.7
|
|
|
|
3.2
|
|
|
|
0.5
|
|
|
|
22%
|
Total
|
|
$
|
91.3
|
|
|
$
|
100.9
|
|
|
$
|
9.6
|
|
|
|
10%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*The comparable first
quarter 2015 data relates to the Adjusted non-IFRS measures. See
"Non IFRS Financial Measures" and related reconciliations included
elsewhere in this press release.
|
**Reclassified.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product Segment Unit
Breakdown
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
|
|
|
|
|
|
March 31,
2015
|
|
|
March 31,
2016
|
|
|
Increase
|
|
|
Increase
|
|
|
In
thousands
|
|
|
%
|
Sparkling Water Maker
Starter Kits
|
|
|
518
|
|
|
|
575
|
|
|
|
57
|
|
|
|
11%
|
CO2
Refills
|
|
|
6,046
|
|
|
|
6,781
|
|
|
|
735
|
|
|
|
12%
|
Flavors
|
|
|
4,922
|
|
|
|
5,288
|
|
|
|
366
|
|
|
|
7%
|
Revenue increased by $9.6 million,
or 10.4% to $100.9 million from
Adjusted revenue* of $91.3 million
driven by solid gains mainly in Germany, France, and the Czech Republic partially offset by a negative
foreign currency exchange impact mainly due to the weakening of the
Euro/U.S. Dollar exchange rate, Australian Dollar/U.S. Dollar, and
the Canadian Dollar/U.S. Dollar compared to the same period last
year.
Gross margin decreased to 50.7% compared to Adjusted gross
margin* of 52.3% for the same period in 2015 mainly due to changes
in foreign currency exchange rates compared to the same period last
year.
Sales and marketing expenses were $32.7
million, or 32.4% of revenue, compared to $32.5 million, or 35.5% of the Adjusted revenue*
in the same period last year. The slight increase in sales and
marketing expenses was mainly due to higher advertising and
promotion expenses offset by decrease in other sales and
distribution expenses.
General and administrative expenses for the first quarter 2016
were $10.6 million, or 10.5% of
revenue, compared to $11.6 million,
or 12.7% of Adjusted revenue* in the same period last year.
Operating income increased 116.3% to $7.9
million, or 7.9% of revenue, compared to Adjusted operating
profit* of $3.7 million, or 4.0% of
Adjusted revenue* in the same period last year.
The net negative impact of foreign currency exchange rate
changes compared to the same period last year was approximately
$2.8 million on revenue and
$2.0 million on operating income.
Net financial expense was $0.9
million compared to financial income of $5.7 million in the same period in 2015, which
relates to currency gains that were unusual in their magnitude
Tax expense was $0.9 million
reflecting an effective tax rate of 13.1%, compared to $1.0 million, or an effective tax rate of 13.8%
in the first quarter 2015.
Balance Sheet and Cash Flow
Cash and cash equivalents
were $34.4 million, similar to their
value as of December 31, 2015.
Cash flow from operating activities less cash flow for
investment activities ("free cash flow"), was $4.6 million compared to negative free cash flow
of $11.5 million in the same period
last year.
Bank debt decreased 11.7% to $32.5
million compared to $36.8
million as of December 31,
2015.
Working capital was $141.6 million
similar to its value as of December 31,
2015. Inventories increased by 2.0% to $115.2 million compared to $112.9 million as of December 31, 2015.
Conference Call and Management Commentary
Detailed CFO commentary and a supplemental slide presentation
have been furnished as Exhibits 99.2 and 99.3 to the Form 6-K
furnished to the Securities and Exchange Commission and will be
posted on the company's website,
http://sodastream.investorroom.com.
The company has scheduled a conference call for 8:30 a.m. Eastern Standard Time (U.S. time) today
(Tuesday, May 10, 2016) to review the
company's financial results. The conference call will be broadcast
over the Internet as a "live" listen only Webcast. To listen,
please go to http://sodastream.investorroom.com. To
listen, please go to http://sodastream.investorroom.com. Listeners
are urged to login approximately 20 minutes before the conference
call is scheduled to begin in order to register, as well as
download and install any necessary audio software. An archive of
the Webcast will be available for 30 days after the call.
About SodaStream International
SodaStream is the world's leading manufacturer and distributor
of Sparkling Water Makers, which enable consumers to easily
transform ordinary tap water into sparkling water and flavored
sparkling water in seconds. By making ordinary water more exciting
and fun to drink, SodaStream helps consumers drink more water.
Sparkling Water Makers offer a highly differentiated and innovative
solution to consumers of bottled and canned carbonated soft drinks.
The products promote health and wellness, are environmentally
friendly, cost effective, and are customizable and fun to use.
Products are available at more than 70,000 retail stores across 45
countries, including approximately 13,000 retail stores in
the United States. To learn more
about how SodaStream makes water exciting and follow SodaStream on
Facebook, Twitter, Pinterest, Instagram and YouTube, visit
http://www.sodastream.com.
Non-IFRS Financial Measures
This press release contains certain non-IFRS measures, including
Adjusted revenue, Adjusted gross margin, Adjusted operating income,
Adjusted net income, Adjusted EBITDA, and Adjusted diluted earnings
per share ("Adjusted diluted EPS").
Adjusted EBITDA represents earnings before financial expense
(income), income tax, depreciation and amortization, and further
eliminates the effect of restructuring costs. Adjusted revenue,
Adjusted gross margin, Adjusted operating income, Adjusted net
income and Adjusted diluted EPS eliminate the effect of
restructuring costs.
The company believes that the Adjusted revenue, Adjusted gross
margin, Adjusted operating income, Adjusted net income, Adjusted
EBITDA and Adjusted diluted EPS, as described above, should be
considered in evaluating the company's performance. Adjusted
revenue, Adjusted operating income, Adjusted net income, Adjusted
EBITDA and Adjusted diluted EPS exclude restructuring costs because
most of this charge is a non-cash expense that does not reflect the
performance of the company's underlying business and operations.
Adjusted EBITDA facilitates operating performance comparisons from
period to period and company to company by backing out potential
differences caused by variations in capital structures (affecting
financial expenses (income), net), tax positions (such as the
impact of changes in effective tax rates) and the age and
depreciation charges and amortization of fixed and intangible
assets, respectively (affecting relative depreciation and
amortization expense, respectively).
These measures should be considered in addition to results
prepared in accordance with IFRS and should not be considered a
substitute for the IFRS results. The non-IFRS measures included in
this press release have been reconciled to the IFRS results.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, and
Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements include information about possible or
assumed future results of our business and financial condition, as
well as the results of operations, liquidity, plans and objectives.
In some cases, you can identify forward-looking statements by
terminology such as "believe," "may," "estimate," "continue,"
"anticipate," "intend," "should," "plan," "expect," "predict,"
"potential," or the negative of these terms or other similar
expressions: Such statements are based on management's current
beliefs and expectations and involve a number of known and unknown
risks and uncertainties that could cause our future results,
performance or achievements to differ significantly from the
results, performance or achievements expressed or implied by such
forward-looking statements. Important factors that could cause or
contribute to such differences include risks relating to: our
ability to maintain or expand sales in our target markets,
including the United States; our
ability to maintain or continue to develop our presence in retail
networks; our ability to develop and implement production and
operating infrastructure to effectively support our growth; the
success of our marketing campaigns and media spending in terms of
increased sales or increased product and brand name awareness; our
ability to maintain our customer base in markets where we have an
established presence; the risks associated with our reliance on
exclusive arrangements for the distribution of our beverage
carbonation systems and consumables in each of the markets in which
we use third-party distributors; our ability to compete effectively
with other companies which currently offer, or may offer in the
future, competing products; our ability to maintain margins due to
decline in product selling price and/or rising costs; potential
product liability claims if any component of our beverage
carbonation systems is misused; our ability to protect our
intellectual property rights; our being found to have a dominant
position in certain markets which may place limits on our ability
to operate; risks associated with our being a multinational
corporation, including fluctuations in currency exchange rates; our
potential exposure to greater than anticipated tax liabilities; our
products being subject to extensive governmental regulation in the
markets in which we operate; adverse conditions in the global
economy which could negatively impact our customers' demand for our
products; and other factors discussed under the heading "Risk
Factors" in the Annual Report on the Form 20-F for the year
ended December 31, 2015 and other
documents filed with or furnished to the Securities and Exchange
Commission. These forward-looking statements are made only as
of the date hereof, and the company undertakes no obligation to
update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise.
Investor Contact:
Brendon Frey
ICR
Phone: + 1 203-682-8200
brendon.frey@icrinc.com
Consolidated
Statements of Operations
|
In thousands
(other than per share amounts)
|
|
For the three
months ended March 31
|
|
|
|
|
|
|
|
|
|
2015
|
|
|
2016
|
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
Revenue
|
|
$
|
90,344
|
|
|
$
|
100,873
|
|
Cost of
revenue
|
|
|
44,893
|
|
|
|
49,701
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
|
45,451
|
|
|
|
51,172
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
Sales and
marketing
|
|
|
32,461
|
|
|
|
32,671
|
|
General and
administrative
|
|
|
11,641
|
|
|
|
10,581
|
|
Total operating
expenses
|
|
|
44,102
|
|
|
|
43,252
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
|
1,349
|
|
|
|
7,920
|
|
|
|
|
|
|
|
|
|
|
Interest expense,
net
|
|
|
34
|
|
|
|
39
|
|
Other financial
expense (income), net
|
|
|
(5,702)
|
|
|
|
871
|
|
|
|
|
|
|
|
|
|
|
Total financial
expense (income), net
|
|
|
(5,668)
|
|
|
|
910
|
|
|
|
|
|
|
|
|
|
|
Income before income
taxes
|
|
|
7,017
|
|
|
|
7,010
|
|
|
|
|
|
|
|
|
|
|
Income tax
expense
|
|
|
970
|
|
|
|
917
|
|
|
|
|
|
|
|
|
|
|
Net income for the
period
|
|
|
6,047
|
|
|
|
6,093
|
|
|
|
|
|
|
|
|
|
|
Net income per
share
|
|
|
|
|
|
|
|
|
Basic
|
|
|
0.29
|
|
|
|
0.29
|
|
Diluted
|
|
|
0.29
|
|
|
|
0.29
|
|
|
|
|
|
|
|
|
|
|
Weighted
average number of shares
|
|
|
|
|
|
|
|
|
Basic
|
|
|
21,017
|
|
|
|
21,100
|
|
Diluted
|
|
|
21,050
|
|
|
|
21,164
|
|
Consolidated Balance
Sheets as of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December
31,
|
|
|
March 31,
|
|
|
|
2015
|
|
|
2016
|
|
|
|
(Audited)
|
|
|
(Unaudited)
|
|
|
|
(In
thousands)
|
|
Assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
34,534
|
|
|
$
|
34,432
|
|
Inventories
|
|
|
112,973
|
|
|
|
115,189
|
|
Trade
receivables
|
|
|
76,566
|
|
|
|
71,192
|
|
Other
receivables
|
|
|
29,099
|
|
|
|
25,945
|
|
Derivative financial
instruments
|
|
|
631
|
|
|
|
677
|
|
Total current
assets
|
|
|
253,803
|
|
|
|
247,435
|
|
|
|
|
|
|
|
|
|
|
Property, plant and
equipment
|
|
|
155,294
|
|
|
|
162,103
|
|
Intangible
assets
|
|
|
42,095
|
|
|
|
42,248
|
|
Deferred tax
assets
|
|
|
1,106
|
|
|
|
2,036
|
|
Other
receivables
|
|
|
431
|
|
|
|
437
|
|
Total non-current
assets
|
|
|
198,926
|
|
|
|
206,824
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
|
452,729
|
|
|
|
454,259
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
Loans and
borrowings
|
|
|
11,917
|
|
|
|
9,288
|
|
Trade
payables
|
|
|
50,549
|
|
|
|
48,099
|
|
Income tax
payable
|
|
|
7,505
|
|
|
|
5,364
|
|
Provisions
|
|
|
2,407
|
|
|
|
2,214
|
|
Other current
liabilities
|
|
|
18,118
|
|
|
|
15,764
|
|
Total current
liabilities
|
|
|
90,496
|
|
|
|
80,729
|
|
|
|
|
|
|
|
|
|
|
Loans and
borrowings
|
|
|
24,905
|
|
|
|
23,221
|
|
Employee
benefits
|
|
|
2,152
|
|
|
|
2,218
|
|
Provisions
|
|
|
156
|
|
|
|
171
|
|
Deferred tax
liabilities
|
|
|
832
|
|
|
|
835
|
|
Total non-current
liabilities
|
|
|
28,045
|
|
|
|
26,445
|
|
|
|
|
|
|
|
|
|
|
Total
liabilities
|
|
|
118,541
|
|
|
|
107,174
|
|
|
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
|
|
|
Share
capital
|
|
|
3,414
|
|
|
|
3,418
|
|
Share
premium
|
|
|
205,527
|
|
|
|
206,895
|
|
Translation
reserve
|
|
|
(29,993)
|
|
|
|
(24,561)
|
|
Retained
earnings
|
|
|
155,240
|
|
|
|
161,333
|
|
Total shareholders'
equity
|
|
|
334,188
|
|
|
|
347,085
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
|
$
|
452,729
|
|
|
$
|
454,259
|
|
Consolidated
Statements of Cash Flows
|
|
|
|
|
|
|
|
|
|
For the
three months ended
|
|
|
|
March 31,
|
|
|
|
2015
|
|
|
2016
|
|
|
|
(Unaudited)
|
|
|
|
(In
thousands)
|
|
Cash flows from
operating activities
|
|
|
|
|
|
|
|
|
Net income for the
period
|
|
$
|
6,047
|
|
|
$
|
6,093
|
|
|
|
|
|
|
|
|
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
Amortization of
intangible assets
|
|
|
929
|
|
|
|
907
|
|
Change in fair value
of derivative financial instruments
|
|
|
(3,806)
|
|
|
|
354
|
|
Exchange rate
differences on short-term loans and borrowing
|
|
|
(957)
|
|
|
|
-
|
|
Exchange rate
differences on long-term loans and borrowing
|
|
|
(3,900)
|
|
|
|
843
|
|
Depreciation of
property, plant and equipment
|
|
|
3,014
|
|
|
|
3,469
|
|
Restructuring
costs
|
|
|
2,313
|
|
|
|
-
|
|
Share based
payment
|
|
|
1,133
|
|
|
|
1,362
|
|
Interest expense,
net
|
|
|
34
|
|
|
|
39
|
|
Income tax
expense
|
|
|
970
|
|
|
|
917
|
|
|
|
|
5,777
|
|
|
|
13,984
|
|
Decrease (increase) in
inventories
|
|
|
1,484
|
|
|
|
(1,456)
|
|
|
Decrease in trade and
other receivables
|
|
|
23,858
|
|
|
|
10,732
|
|
|
Decrease in trade
payables and other liabilities
|
|
|
(28,932)
|
|
|
|
(5,845)
|
|
|
Increase in employee
benefits
|
|
|
106
|
|
|
|
5
|
|
|
Decrease in
provisions
|
|
|
(377)
|
|
|
|
(193)
|
|
|
|
|
|
1,916
|
|
|
|
17,227
|
|
|
Interest
paid
|
|
|
(41)
|
|
|
|
(58)
|
|
|
Income tax
received
|
|
|
250
|
|
|
|
2
|
|
|
Income tax
paid
|
|
|
(2,056)
|
|
|
|
(4,134)
|
|
|
Net cash from operating
activities
|
|
|
69
|
|
|
|
13,037
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
investing activities
|
|
|
|
|
|
|
|
|
|
Interest
received
|
|
|
7
|
|
|
|
19
|
|
|
Proceeds from
investment grants
|
|
|
2,252
|
|
|
|
-
|
|
|
Proceeds from (payment
for) derivative financial instruments, net
|
|
|
909
|
|
|
|
(400)
|
|
|
Acquisition of
property, plant and equipment
|
|
|
(13,741)
|
|
|
|
(7,568)
|
|
|
Acquisition of
intangible assets
|
|
|
(990)
|
|
|
|
(532)
|
|
|
Net cash used in
investing activities
|
|
|
(11,563)
|
|
|
|
(8,481)
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities
|
|
|
|
|
|
|
|
|
Proceeds from exercise
of employee share options
|
|
|
10
|
|
|
|
10
|
|
Repayments of long-term
loans and borrowings
|
|
|
(10,684)
|
|
|
|
(2,295)
|
|
Change in short-term
debt
|
|
|
17,430
|
|
|
|
(2,861)
|
|
Net cash from financing
activities
|
|
|
6,756
|
|
|
|
(5,146)
|
|
|
|
|
|
|
|
|
|
|
Net decrease in cash
and cash equivalents
|
|
|
(4,738)
|
|
|
|
(590)
|
|
Cash and cash
equivalents at the beginning of the period
|
|
|
46,880
|
|
|
|
34,534
|
|
Effect of exchange
rates fluctuations on cash and cash equivalents
|
|
|
(1,579)
|
|
|
|
488
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents at the end of the period
|
|
$
|
40,563
|
|
|
$
|
34,432
|
|
|
|
|
|
|
|
|
|
|
|
|
Information about
revenue in reportable segments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Western
Europe
|
|
|
The
Americas
|
|
|
Asia-Pacific
|
|
|
Central &
Eastern Europe,
Middle East,
Africa
|
|
|
Total
|
|
|
|
(In
thousands)
|
|
Three months
ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2015
(Unaudited) *
|
|
$
|
54,635
|
|
|
|
22,795
|
|
|
|
8,965
|
|
|
|
4,949
|
|
|
$
|
91,344
|
|
|
March 31, 2016
(Unaudited)
|
|
|
62,635
|
|
|
|
22,912
|
|
|
|
8,806
|
|
|
|
6,520
|
|
|
|
100,873
|
|
|
EBITDA
|
|
|
|
|
|
|
|
|
Three months
ended
|
|
|
|
March 31,
|
|
|
|
2015*
|
|
|
2016
|
|
|
|
(Unaudited)
|
|
|
|
(In
thousands)
|
|
|
|
|
|
|
|
|
Reconciliation of Net
Income to EBITDA
|
|
|
|
|
|
|
Net income
|
|
$
|
6,047
|
|
|
$
|
6,093
|
|
Financial expenses
(income), net
|
|
|
(5,668)
|
|
|
|
910
|
|
Income tax
expense
|
|
|
970
|
|
|
|
917
|
|
Depreciation and
amortization
|
|
|
3,943
|
|
|
|
4,376
|
|
EBITDA
|
|
|
5,292
|
|
|
|
12,296
|
|
|
|
|
|
|
|
|
|
|
Restructuring
|
|
|
2,313
|
|
|
|
-
|
|
EBITDA
|
|
|
7,605
|
|
|
|
12,296
|
|
|
|
|
|
|
|
|
|
|
*The comparable first
quarter 2015 data relates to the Adjusted non-IFRS measures. See
"Non IFRS Financial Measures" and related reconciliations included
elsewhere in this press release.
|
The following
tables present the Company's adjusted revenue, by
|
product type for
the periods presented, as well as such revenue
|
by product type as
a percentage of total revenue:
|
|
|
|
|
|
|
Three months
ended
|
|
|
|
March 31,
|
|
|
|
2015*
|
|
|
2016
|
|
|
|
(Unaudited)
|
|
|
|
Revenue
|
|
|
|
(in
thousands)
|
|
|
|
|
|
|
|
|
Sparkling Water Maker
starter kits (including exchange cylinders)
|
|
$
|
**26,246
|
|
|
$
|
29,581
|
|
Consumables
|
|
|
**62,441
|
|
|
|
68,055
|
|
Other
|
|
|
**2,657
|
|
|
|
3,237
|
|
Total
|
|
$
|
91,344
|
|
|
$
|
100,873
|
|
|
|
Three months
ended
|
|
|
March 31,
|
|
|
2015*
|
|
2016
|
|
|
(Unaudited)
|
|
|
As a percentage
of
Revenue
|
|
|
|
|
|
|
|
Sparkling Water Maker
starter kits (including exchange cylinders)
|
|
|
28.7%
|
|
|
29.3%
|
Consumables
|
|
|
68.4%
|
|
|
67.5%
|
Other
|
|
|
2.9%
|
|
|
3.2%
|
Total
|
|
|
100.0%
|
|
|
100.0%
|
|
*The comparable first
quarter 2015 data relates to the Adjusted non-IFRS measures. See
"Non IFRS Financial Measures" and related reconciliations included
elsewhere in this press release.
|
**Reclassified.
|
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SOURCE SodaStream International Ltd.