Belgian water bottler Spadel managed a turnover of 101.405 million euro in the first half of 2013, only 0.1 percent lower than the first half of 2012.
Spa in a tough spot
Spadel’s water brands are in a tough spot, with competition on the lower end of the scale from the house brands and pressure on the higher end of the scale as well. The fact that Spadel has managed to stabilize its turnover in the first half of the year, can be attributed to a price hike.
The company mostly known for its Spa and Bru labels, saw an increase in worth of its natural mineral water destined for Belgian home consumption with 0.8 %, even though it dropped in volume 0.6%. Sparkling water was the driving force of this increase, helping the company increase its turnover 3%, despite a slight drop in market share.
Its Dutch market share also dropped, partly because distributor Superunie boycotted its brands for a while. Sales volumes have been on the rise from the middle of April onwards, towards their former levels, but Spadel still had to take a seven percent hit to its turnover in the Netherlands.
Purchases spur growth in France
Consumption of Spadel’s natural mineral water destined for home consumption declined in France (-3.3 % in worth and 1.5 % in volume), with only the Wattwiller brand increasing sales by 2 %.
The importance of the French market has increased now that Spadel purchased Les Eaux Minérales de Ribeauvillé from Nestlé in the beginning of July. Les Eaux realized a turnover of 16.3 million euro in 2012.
30 % profit increase
Financially it has been a good first half year for Spadel, as net profits increased 30.2 %, reaching 6.056 million euro as margins were increased because of higher prices and lower costs. Spadel saved 5.8 % on resources, 3.1 % on goods and services and 3% on personnel. These numbers lead Spadel to believe that the full-year results for 2013 will outperform those of 2012.