Red Bull Says Profits Soar 35% | Independent Newspapers Limited
Newsletter subscribe

International Business

Red Bull Says Profits Soar 35%

Red Bull
Posted: Sep 19, 2016 at 3:16 pm   /   by   /   comments (0)

Austrian energy drink maker Red Bull said it posted record profits of $559 million (501 million euros) in 2015, an increase of 35 per cent, according to the economics magazine Trend.

The unlisted firm, which does not directly publish its figures, saw drink sales nudge up 6.1 per cent to 5.96 billion cans, its turnover rise 20 per cent to 3.2 billion euros, and operating income soar by 90 per cent to 633.3 million euros, according to Trend.

Red Bull’s bottom line was boosted by a cost-cutting programme and a weaker euro, the magazine reported.

Distributed in 169 countries, sales of the energy drink took off in several markets, including Turkey (up 25 per cent), South Africa and Saudi Arabia (19 per cent), India (18 per cent), Poland (18 per cent) and Germany (16 per cent).

Forty-nine percent of the company is owned by Austrian entrepreneur Dietrich Mateschitz, who set it up in 1987, with the remaining 51 per cent stake held by the Thai Yoovidhya family, who own the patent to the drink.

Red Bull is a major sponsor of football, Formula One and extreme sports.