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ThemenmitKopf
@topicswithhead
8Mes·

celsius holding Q3 2024 $CELH

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Financial performance:

  • Revenue: In Q3 2024, revenue amounted to approximately USD 265.7 million, a decrease of 31% compared to USD 384.8 million in Q3 2023. Revenue up to September 30, 2024 was USD 1.02 billion, an increase of 5% compared to the previous year.
  • Net income: Net income in Q3 2024 fell by 92% to approximately USD 6.4 million compared to USD 83.9 million in the previous year.
  • Adjusted EBITDA: Adjusted EBITDA in Q3 2024 decreased by 96% to approximately USD 4.4 million, compared to USD 103.6 million in the previous year.


Balance sheet overview:

  • Cash on hand: The company had cash and cash equivalents of approximately USD 903.7 million as of September 30, 2024.
  • Working capital: As at September 30, 2024, working capital was approximately USD 1.074 billion.


Income statement:

  • Gross profit: Gross profit in Q3 2024 amounted to USD 122 million, a decrease of 37% compared to USD 194 million in the prior-year period. Gross margin decreased to 46 % of revenue, compared to 50.4 % in the previous year.


Cash flow overview:

  • Operating activities: Cash flows from operating activities were approximately USD 187.2 million for the nine months ended September 30, 2024.
  • Investing activities: Approximately USD 21 million was used in investing activities.
  • Financing activities: Around USD 18.5 million was invested in financing activities.


Key figures and profitability metrics:

  • Gross margin: In Q3 2024, the gross margin was 46%, compared to 50.4% in Q3 2023.
  • Net profit margin: The net profit margin was approximately 2.4% in Q3 2024, compared to 21.8% in the previous year.


Segment information:

  • North America revenue: In Q3 2024, revenue in North America amounted to approximately USD 247 million, a decrease of 33% compared to USD 371 million in the previous year.
  • International revenue: Increased by 37% to USD 18.6 million in Q3 2024 compared to the same period last year.


Competitive position:

  • Market share: Celsius holds 11.6% market share in energy drinks in the US and is ranked 3rd in the overall market ranking.


Forecasts and management commentary:

  • Outlook: No forecast is currently provided.
  • Focus: Management is focusing on expanding product availability and increasing consumption frequency.


Risks and opportunities:

  • Risks: Challenges in terms of supply chain optimization, market conditions and macroeconomic factors.
  • Opportunities: Expansion into new markets and growing demand for sugar-free products.


Summary of results:


Positives:

  • Strong liquidity: Solid cash balance of over USD 900 million.
  • International growth: International sales increased by 37%.
  • Strategic acquisition: Acquisition of Big Beverages to promote vertical integration.
  • Market share resilience: Strong market position in the US energy drink market.
  • Positive consumer trends: Growth in the sugar-free energy drink segment.


Negative aspects:

  • Decline in sales: Significant decline in sales of 31% in Q3 2024.
  • Decline in net result: Net result fell by 92%.
  • Margin pressure: Gross margin decreased by 440 basis points.
  • Inventory optimization: Sales were impacted by inventory optimization by distributors.
  • Lack of forecasting: No provision of future forecasts creates uncertainty.
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2 Commenti
immagine del profilo
Homer@Simpson
8Mes
The decline in sales is already severe 🤔
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immagine del profilo
ThemenmitKopf@topicswithhead
8Mes
@Simpson is like I thought the quarter was going to be another bang. I actually want in but somehow it has a nasty taste now. International has grown too slowly and there is nothing but yes Pepsi is optimizing its inventory. That means they had so much before that they are now not far away from the actual turnover. It will probably be around 400 million in the USA
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