Swiss Water Reports Strong First Quarter Volume and Revenue - Seite 3

^{2 EBITDA excluding the impact of IFRS 16 - Leases is defined as EBITDA, less lease payments made during the year.
3 Per-share calculations are based on the weighted average number of shares outstanding during the periods. Diluted earnings per share take into account shares that may be issued upon conversion of convertible debt and RSUs as well as the impact on earnings from changes in the fair market value of the embedded option in the convertible debt and conversion of RSUs.}

• Revenue increased by $3.9 million to $25.7 million for the three months ended March 31, 2021. Volume growth and higher green coffee prices in the quarter contributed positively to the growth in revenue.
  • First quarter EBITDA was $2.7 million, an increase of $0.1 million, or 2%, when compared to last year. Quarterly EBITDA, excluding the impact of IFRS 16, was $2.0 million, the same as in 2020. EBITDA this year was driven by revenue growth and an increased financial contribution from the company’s Seaforth coffee handling and storage subsidiary. These positive impacts were offset by an increase in green coffee costs and softer coffee quality differentials compared to the same period in 2020.

Company Profile

Swiss Water Decaffeinated Coffee Inc. is a leading specialty coffee company and a premium green coffee decaffeinator that employs the proprietary Swiss Water Process to decaffeinate green coffee without the use of solvents such as methylene chloride. It also owns Seaforth Supply Chain Solutions Inc., a green coffee handling and storage business. Both businesses are located in the cities of Burnaby and Delta, British Columbia, Canada.

Additional Information

A conference call to discuss Swiss Water’s recent financial results will be held tomorrow, May 7, 2021 at 10:00 am Pacific Time (1:00 pm Eastern Time). To access the conference call, please dial 1-888-506-0062 (toll free) or 1-973-528-0011 (international); passcode: 873626. A replay will be available through May 21, 2021 at 1-877-481-4010 (toll free) or 1-919-882-2331 (international); passcode: 41221.

A more detailed discussion of Swiss Water Decaffeinated Coffee Inc.’s recent financial results is provided in the company’s Management Discussion and Analysis filed on SEDAR (www.sedar.com) and the company’s website (investor.swisswater.com).

For more information, please contact:

Iain Carswell, Chief Financial Officer
Swiss Water Decaffeinated Coffee Inc.
Phone: [phone]