Fluidra sales rise 17.1% to deliver record Q1 net profit
April 28, 2017-
Sales rose 17.1% to €183.2M and EBITDA grew 48.9% to come in at €19.6M, with a net profit of €4.5M
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Steep rise in activity across all international markets, particularly Europe, Australia and USA, combined with improved operating leverage sending EBITDA soaring
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In the quarter before the start of the campaign, executive president Eloi Planes reiterates expectation to come in a year early on the sales and profit targets set in the Strategic Plan for 2018
Fluidra, a multinational listed on the Spanish stock exchange and dedicated to the development of applications for sustainable water use for Pools & Wellness, today released its 2017 first-quarter results, reporting significant growth across sales, margins, liquidity and net profit.
Sales rose 17.1% over Q1 2016 to come in at €183.2M, EBITDA grew 48.9% to €19.6M and net profit climbed from €0.4M to €4.5M thanks to corporate operational improvement and rising activity volumes. This level of profit led the company to post its best results since the financial crisis in 2009.
There was a positive sales evolution across all geographic areas: Asia and Australia grew by 17.3% and the rest of the world was up 39.4% off the back of USA, Mexico, and Brazil.
Also of note was the confirmation of the recovery trend of the Spanish market, which accounts for 20% of Fluidra sales, up by 8.6%, and the even faster pace reflected in the rest of southern Europe, mainly involving Italy and France, where sales rose by 12.5% and delivered 24% of the company’s worldwide results.
Sales figures in central and northern Europe evolved very favorably, with a 13.6% growth driven by Germany and the Netherlands.
Fluidra divested from ATH (domestic water treatment) as part of its strategy to focus on the Pool & Wellness area and move out of other non-core activities.
In view of this successful first quarter, executive president Eloi Planes ratified “our expectation of hitting the sales and profit targets we had set in the Strategic Plan for 2018 this year instead”. 2017 turnover is estimated at between €745Mn and €765Mn and EBITDA is expected to come in between €94Mn and €100Mn.