Spadel, the company which owns water brand Spa, has outperformed 2013's result in the first half of 2014. Both its net turnover and operating income went up, thanks to better sales in every market.
Operating income doubled
Spadel managed a 117 million euro turnover in the first half of 2014, a 15.4 % increase compared to last year. Like-for-like turnover only grew 9 %, a difference which can be explained through the Eaux Minérales de Ribeauville purchase in July 2013. Operating income nearly doubled with an 8.4 million euro increase to 16.2 million euro.
Belgian home consumption of natural mineral water grew 7.1 % in value, while volumes went up 8.1 %. Belgian turnover grew 11 % even though Spadel's market share dropped slightly. Dutch consumption grew 10 % in value and 5 % in volume, which led to a 11 % increase in turnover. Dutch market share is considerably higher than the year before, as Spadel's mineral water brands were not for sale in several supermarket chains up until April 2013.
French home consumption of mineral water grew 4.5 % in value, 6.9 % in volume, while its market share remained level, despite a 9 % turnover increase. The United Kingdom marked the largest growth: a 16.3 % value growth and a 12.8 % volume growth.
Spadel expects full-year results to show a higher recurrent company profit than in 2013, despite an average summer.