Spain’s Fluidra SA has reported positive first quarter 2018 results, despite cold and rainy weather in the northern hemisphere and a late start to the pool season in the US.
On a like-for-like basis, sales rose 2.2% over the first quarter of 2017 to reach €181 million. Excluding non-recurring items primarily related to the pending merger with Zodiac, adjusted EBITDA remained stable at €18.4 million, and net profit increased 41.2% from €3.3 million to €4.6 million.
During the quarter, the Pool & Wellness business unit accounted for the 93.2% of Fluidra’s overall sales, highlighting the group’s continued evolution to a ‘pure play’ pool equipment supplier.
Fluidra executive president Eloi Planes said: “We remain confident in our target of growing sales by 5–7% this year, in spite of the season starting late in the first quarter. We are positive and excited that 2018 will mark a milestone in Fluidra’s history, capped by the expected merger with Zodiac, which remains in process and expected to close in Q2.”