Solid start to 2018 for Fluidra

Fluidra's headquarters in Spain.
Fluidra's headquarters in Spain.

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.”