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Fluidra obtains a profit of 26.4 million euros, up by 63%

The upward trend in sales continued with growth of 11.1% in the first nine months of the year to reach 565.4 million euros; EBITDA increased by 15.7% up to 76.1 million euros

 As a result of the greater trading volume and the improved financial results, net profits rose to 26.4 million euros in comparison with the previous year

 

Fluidra, the listed Spanish multinational dedicated to the development of applications for the sustainable use of water for Pools & Wellness, released its results today for the first three quarters of 2016.

The company reported a growth in sales of 11.1% to reach 565.4 million euros, a growth in EBITDA of 15.7% up to 76.1 million euros, and a net profit of 26.4 million euros, a figure that represents an increase of 62.9% in comparison with the previous year.

There was a general upward trend in sales, with Australia and countries in southern Europe such as France and Italy doing particularly well, where there were significant growth rates of up to 17% in comparison with the previous year. Central and northern Europe also showed favourable growth with figures of 12%, backed by the recent incorporation of SIBO in the Netherlands and despite the devaluation of the pound sterling caused by Brexit. Spain, Fluidra’s domestic market and its fourth largest pool market worldwide, maintained a good rate of growth at 8%.

In general, all the international markets evolved favourably, with the exception of China that decreased due to the macroeconomic environment.

Pool & Wellness, which with 517.3 million euros accounted for more than 90% of Fluidra’s business, maintained its rate of growth and was up by 12.2% overall. It is worth highlighting the Residential Pool and Water Treatment lines of business, which boosted by the positive evolution in Europe and the acquisition of the South African leader Waterlinx last year, showed double digit growth (16.4% and 14.8%, respectively).

Eloi Planes, Fluidra’s executive president, explained: “2016 is proving to be a good year for Fluidra. We are living up to our expectations in line with our Strategic Plan focused on profitable growth”. Following the implementation of the Strategic Plan, Fluidra expects to reach 750 million euros in turnover and an EBITDA of 100 million euros in 2018.

Both the investments in new manufacturing facilities made in Australia and South Africa this year, and the recent acquisition of a 70% shareholding in SIBO, a Dutch company that is a leader in natural pools and aquatic facilities, fall within the framework of this dynamic expansion forecast in the 2018 Strategic Plan.

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