Splash Beverage Group (NYSE American: SBEV), a portfolio company of leading beverage brands, today announced financial results for the first quarter ended March 31, 2022. Among the highlights, the company reported $4.1 million in gross sales for the first quarter compared to $2.2 million in the prior year period, reflecting an 86% year-over-year increase. “Our 2022 first quarter results demonstrate how we are effectively executing our business strategy of acquiring and expanding undervalued beverage brands within our growing distribution system,” said Robert Nistico, Splash Beverage Group’s chairman and CEO. “Since our announcement in November 2021, when we reported our transformational agreement with AB ONE distributors, we have added 15 new distribution agreements, with 12 agreements in the first quarter alone. This has helped drive gross sales growth to a record $4.1 million in the first quarter, a significant increase over the prior year period as well as strong sequential growth from the fourth quarter of 2021. These agreements include TapouT Performance Drink, where we will see the impact in Q2 as it takes time to set up and physically ship to new distributors.”
To view the full press release, visit https://ibn.fm/dISWe
About Splash Beverage Group Inc.
Splash Beverage Group, an innovator in the beverage industry, owns a growing portfolio of alcoholic and non-alcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and TapouT performance hydration and recovery drink. Splash’s strategy is to rapidly develop early stage brands already in its portfolio as well as acquire and then accelerate brands that have high visibility or are innovators in their categories. Led by a management team that has built and managed some of the top brands in the beverage industry and led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution. For more information about the company, visit www.SplashBeverageGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to SBEV are available in the company’s newsroom at https://ibn.fm/SBEV
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