SodaStream reports preliminary 2013 net income of approximately US$41.5M, revenue of approximately US$562M
AIRPORT CITY, Israel
January 13, 2014
– Company to Participate in the 16th Annual ICR XChange Conference
SodaStream International Ltd. (NASDAQ: SODA) today announced preliminary, unaudited results for the fiscal year ended December 31, 2013.
On a preliminary basis, based on the information currently available, for the fiscal year ended December 31, 2013, the Company expects:
Revenue to be approximately $562.0 million.
Adjusted net income to be approximately $52.5 million.
Net income to be approximately $41.5 million.
As the Company has not completed its year-end fiscal close and the audit of its 2013 financial statements is not complete, the revenue, adjusted net income and net income expectations presented in this press release are estimated and preliminary, and therefore, subject to year-end closing adjustments and may change.
"Despite achieving all-time record sales, we failed to deliver our profit targets and are disappointed in our fourth quarter performance," said Daniel Birnbaum, Chief Executive Officer of SodaStream. "These preliminary results reflect a challenging holiday selling season in the U.S. and several factors, mostly from the second half of the quarter that negatively impacted our gross margin. These include lower sell-in prices and higher product costs, a shift in product mix versus plan, and unfavorable changes in foreign currency exchange rates. While we expect some of these headwinds to continue into the first half of 2014, we are moving quickly to implement the necessary measures to restore margins to historical levels in the coming year. We remain confident that despite this setback, we will continue to profitably expand our share of the global carbonated beverage category and are on the right path to meet our long-term goals."
The Company also announced that the Company will participate at the 16th Annual ICR XChange Conference, presenting on Tuesday, January 14, 2014 at 11:00 am ET. A live webcast will be available at the investor relations section of SodaStream's website, http://sodastream.investorroom.com. To listen to and view the webcast, please visit the site at least 15 minutes prior to the beginning of the scheduled presentation to register, download and install necessary multimedia streaming software. For those who cannot listen to the live broadcast, a replay will be accessible at the site for 30 days following the event.
SodaStream is the world's leading manufacturer and distributor of home beverage carbonation systems which enable consumers to easily transform ordinary tap water instantly into carbonated soft drinks and sparkling water. Soda makers offer a highly differentiated and innovative solution to consumers of bottled and canned carbonated soft drinks and sparkling water. Our products are environmentally friendly, cost effective, promote health and wellness, and are customizable and fun to use. In addition, our products offer convenience by eliminating the need to carry bottles home from the supermarket, to store bottles at home or to regularly dispose of empty bottles. Our products are available at more than 60,000 retail stores in 45 countries around the world, including over 15,000 retail stores in the United States. For more information, visit http://www.sodastream.com