Q2 2014 Presentation - SodaStream InvestorRoom

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Financial Highlights Q2 2014
Q2 2014
% Change Y/Y
$141.2 million
+7%
785,000
-16%
Flavor Units
9.3 million
+9%
CO2 Refill Units
6.5 million
+17%
$9.2 million
-28%
$0.43
-28%
Total Revenues
Soda Maker Units
Net Income
EPS*
*Based on 21.3 million weighted shares outstanding in Q2 2014 and 21.4 million weighted
shares outstanding in Q2 2013
Quarterly Revenue Growth
Quarterly Revenue 2009 - 2014 (in $ Million)
180.0
168.1
160.0
144.6
141.2
132.4
140.0
132.9
118.2
117.6
120.0
112.5
2009
103.0
2010
100.0
87.9
85.7
69.1
58.5
60.0
40.0
2012
75.7
80.0
39.1
2014
40.9
35.9
31.6
27.9
2013
64.9
54.5
50.0
20.0
Q1
Q2
2011
Q3
Q4
Quarterly Soda Maker Units Growth
Quarterly Soda Maker Unit Sales 2009-2014 (in thousands)
1,800
1,600
1,542
1,400
1,196
1,200
1,111
2009
1,000
2010
940
935
2011
776
800
764
683
592
600
200
767
717
634
604
712
2013
449
385
297
285
203
184
Q1
2012
2014
463
400
785
Q2
Q3
Q4
Quarterly CO2 Refill Units Growth
Quarterly Refill Unit Sales 2009-2014 (in millions)
7.0
6.5
5.8
6.0
5.8
5.5
5.0
5.4
4.8
4.3
4.2
4.0
4.3
2009
3.7
2010
3.6
3.4
3.4
2.9
3.0
1.9
2013
2.3
2.2
2.1
2012
2.7
2.5
2.3
2.0
2.8
2014
1.0
Q1
Q2
Q3
2011
Q4
Quarterly Flavor Units Growth
Quarterly Flavor Unit Sales 2009-2014 (in millions)
12.0
9.8
10.0
9.3
8.5
8.4
8.3
7.7
7.7
8.0
7.4
7.2
2010
6.1
5.8
6.0
2009
2011
2012
4.4
4.1
3.8
4.0
3.1
2.2
2.0
1.4
1.7
0.0
Q1
Q2
Q3
2013
2014
3.7
3.0
2.0
4.6
Q4
Fiscal 2014 Guidance Update
Based on second quarter results and current projections for the
remainder of the year, the Company is revising its outlook:
•
•
•
The Company now expects full year 2014 revenue to
increase approximately 5% over 2013 revenue of $562.7
million,.
The Company now expects full year 2014 EBITDA to
increase approximately 5% over 2013 EBITDA of $62.2
million. Excluding changes in foreign currency exchange
rates compared to 2013, the Company expects 2014
EBITDA to increase approximately 17% over 2013.
The Company now expects full year 2014 net income to
decrease approximately 5% over 2013 net income of $42.0
million.
Consolidated Statements of Operations Q2-2014 vs. Q1-2013
Consolidated Statements of Operations
In thousands (other than per share amounts)
Revenue
Cost of revenue
$
Gross profit
For the six months ended
June 30,
2013
2014
(Unaudited)
250,029 $
259,343
114,006
126,240
For the three months ended
June 30,
2013
2014
(Unaudited)
$
132,390 $
141,171
60,452
69,914
136,023
133,103
71,938
71,257
82,498
25,226
93,087
26,427
43,639
13,617
46,941
13,072
107,724
119,514
57,256
60,013
28,299
13,589
14,682
11,244
Interest expense, net
Other financial expense, net
154
792
333
792
129
582
286
620
Total financial expense, net
946
1,125
711
906
27,353
12,464
13,971
10,338
2,406
1,443
1,108
1,095
Operating expenses
Sales and marketing
General and administrative
Total operating expenses
Operating income
Income before income taxes
Income tax expense
Net income for the period
$
24,947
$
11,021
$
12,863
$
9,243
Net income per share
Basic
Diluted
$
$
1.20
1.17
$
$
0.53
0.52
$
$
0.62
0.60
$
$
0.44
0.43
Weighted average number of shares
Basic
Diluted
20,719
21,318
20,933
21,274
20,756
21,416
20,958
21,271
SodaStream “Free” all Natural
• Less sugar: Lightly sweetened low calorie 17kcal per 100 ml
• Natural: Fruit flavors. Free from artificial flavors, colors, sweeteners, preservatives
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