Higher costs cut into Spadel profit

Higher costs cut into Spadel profit

Belgian drinks manufacturer Spadel 's turnover in 2016 grew several percent, despite a very strong year in 2015. However, because of increased marketing costs, profit dropped.

Strong growth in Belgium

Spadel's consolidated turnover grew 3.5 % to 250.4 million euro. "This increased turnover despite a extremely favourable July 2015, reflects the bottled water market's growth which followed the increased consumer demand for natural and healthy products", Spadel writes. 


Belgian turnover grew 6.7 % mainly thanks to products with smaller volume, designed for consumption on the go. Dutch turnover grew 1.1 % for similar reasons and French turnover went up 1.8 %. The United Kingdom posted the largest growth, up 8.6 %.


Regardless, Spadel's operating income dropped 18.1 % to 25.1 million euro. "The drop in operating income is mainly because of considerable advertising and sales costs related to the Benelux launch of our newest line of lemonades, based on 100 % natural ingredients."


Invest in non-fizzy soda

The company's overall expenses also grew, in part because of an aseptic bottling line and the automization of its supply chain in its Spa plant. The one-time costs related to its Bulgarian Devid AD acquisition were factored into the results. Net profit ended up at 17.2 million euro, down 18.1 % compared to 2015.


For 2017, Spadel will continue to focus on sodas based on natural mineral water, with a new generation of non-fizzy sodas for the Benelux market. Obviously, this will require another marketing push.

Questions or comments? Please feel free to contact the editors

Gerelateerde items

Hema returns to profitability


Hema has become profitable again: after improved net losses in the past quarters, the Dutch chain has managed to become profitable again in the third quarter.

Walmart wants to shed its "store" label


American Walmart is legally Wal-Mart Stores, but its popular name has long since been Walmart. However, the company will now alter that: in this eCommerce era, it aims to be more than merely a store chain.

Huge third quarter loss for Hudson’s Bay


Canadian Hudson’s Bay suffered a huge loss in its third quarter of 2017. Its turnover also slumped compared to the year before.

Ahold tells Delhaize to innovate faster


Delhaize should innovate faster and Ahold Delhaize CEO Dick Boer feels Albert Heijn CEO Wouter Kolk should show the Belgians how. He also talked about Amazon and bol.com in the remarkable interview. 

JYSK published record results once more


Danish JYSK published a record 3.36 billion euro turnover in its 2016-2017 fiscal year. Backed by more than 2,500 stores worldwide, it achieved yet another record.

Benetton moves back to its roots


Luciano Benetton, founder of the Italian fashion chain, will take back control at the age of 82. He wants to return his company to its former glory: “The decay is unbearable”, he announced in the La Repubblica paper.

Back to top