攝氏控股公佈 2023 年第四季度盈利和收入增長創紀錄。這一成功歸功於該公司成功融入百事可樂的分銷系統以及向國際市場的擴張。該公司專注於創新、策略合作夥伴關係和增加更酷的展示位置,以推動銷售和品牌知名度。
他們正在投資於成長和品牌發展,擁有強大的流動性,並計劃在各種管道上持續擴張。銷售和行銷費用預計將在 2024 年第一季增加,重點是維持優質價格地位並管理能源類別的潛在價格上漲。
使用警語:中文譯文來源為 Google 翻譯,僅供參考,實際內容請以英文原文為主
Operator
Operator
Greetings, and welcome to Celsius' Full Year 2023 Earnings Conference Call. (Operator Instructions) As a reminder, this conference is being recorded.
大家好,歡迎參加 Celsius 2023 年全年財報電話會議。 (操作員指示)提醒一下,本次會議正在錄音。
It is now my pleasure to introduce Paul Wiseman, Investors Relations for Celsius. Thank you may begin.
現在我很高興介紹 Celsius 投資者關係主管 Paul Wiseman。謝謝您可以開始了。
Paul Wiseman
Paul Wiseman
Thank you, and good morning, everyone. We appreciate you joining us today for Celsius Holdings Fourth Quarter 2023 Earnings Conference Call. Joining me on the call today are John Fieldly, Chairman and Chief Executive Officer; and Jarrod Langhans, Chief Financial Officer. The call will open to questions following the prepared remarks.
謝謝大家,早安。感謝您今天參加 Celsius Holdings 2023 年第四季財報電話會議。今天與我一起參加電話會議的還有董事長兼執行長約翰‧菲爾德利 (John Fieldly);以及財務長 Jarrod Langhans。在準備好的發言之後,電話會議將開始接受提問。
The company released its fourth quarter earnings press release earlier this morning, and all materials are available on the company's website celsiusholdingsinc.com as well as on the SEC's website, sec.gov. As a reminder, an audio replay of this call will be available later today and can be accessed with the same live webcast link in our conference call announcement released.
該公司今天早上發布了第四季度收益新聞稿,所有資料均可在公司網站 celsiusholdingsinc.com 以及美國證券交易委員會網站 sec.gov 上查閱。提醒一下,本次通話的音訊回放將於今天稍後提供,可透過我們發布的電話會議公告中的相同現場網路直播連結存取。
Please be aware that this call may contain forward-looking statements, which are based on forecasts, expectations and other information available to management at this time. These statements involve numerous risks and uncertainties, including many that are beyond the company's control. Except to the extent as required by law, Celsius Holdings undertakes no obligations and disclaims any duty to update any of these forward-looking statements. We encourage you to review in full our safe harbor statements contained in today's press release and in our quarterly filings with the SEC for additional information.
請注意,本次電話會議可能包含前瞻性陳述,這些陳述是基於管理層目前掌握的預測、預期和其他資訊。這些聲明涉及許多風險和不確定性,其中許多超出了公司的控制範圍。除法律要求的範圍外,Celsius Holdings 不承擔任何義務,也不承擔更新任何前瞻性聲明的責任。我們鼓勵您完整閱讀今天的新聞稿和我們向美國證券交易委員會提交的季度文件中包含的安全港聲明,以獲取更多資訊。
Additionally, management will share operating results on both a GAAP and non-GAAP basis. Descriptions of the non-GAAP financial measures that we use, such as non-GAAP adjusted EBITDA, and reconciliations of these measures to our results as reported in accordance with GAAP are detailed in our earnings release for the fourth quarter of 2023.
此外,管理層將根據 GAAP 和非 GAAP 分享經營業績。我們使用的非 GAAP 財務指標(例如非 GAAP 調整後 EBITDA)的描述以及這些指標與按照 GAAP 報告的結果的對帳在我們 2023 年第四季度的收益報告中詳細說明。
With that, I'd like to turn the call over to Chairman and Chief Executive Officer, John Fieldly, for his prepared remarks.
接下來,我想將電話轉給董事長兼執行長約翰·菲爾德利,請他發表準備好的演講。
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
Thank you, and welcome, everyone, to today's call. Also welcome to Paul Wiseman, who recently joined Celsius as our Senior Vice President of Communications. Celsius had a stellar 2023 fourth quarter, the best earnings year in our company's history. We have achieved nearly complete distribution coverage in the United States, topping 98% ACV, which is a major achievement, putting our products in reach of more consumers and more consumption occasions with greater flavors and size options than ever before. In 2023, Celsius set a new yearly revenue record, growing more than 102% or $664 million in sales to finish the year at just over $1.3 billion. Celsius is now truly a $1 billion brand.
謝謝大家,歡迎大家參加今天的電話會議。同時歡迎 Paul Wiseman,他最近加入 Celsius 擔任我們的通訊資深副總裁。 Celsius 的 2023 年第四季表現出色,成為公司歷史上獲利最好的一年。我們在美國已實現近乎完整的分銷覆蓋率,ACV 覆蓋率超過 98%,這是一項重大成就,使我們的產品能夠覆蓋更多的消費者,在更多的消費場合,並且提供比以往更豐富的口味和尺寸選擇。 2023 年,Celsius 創下了新的年度收入記錄,銷售額成長超過 102% 或 6.64 億美元,年底銷售額略高於 13 億美元。如今,Celsius 名副其實地是一個價值 10 億美元的品牌。
Our impressive share gains in 2023 have resulted in Celsius becoming the first company to break the 10-share barrier in more than a decade. According to Circana, IRI's recent 4-week read ending February 11, 2024 in total energy U.S., Celsius held a new record of 11.5 share nationwide in MULOC. The energy drink category is now a 3-team race.
我們在 2023 年令人矚目的股價成長,使 Celsius 成為十多年來第一家突破 10 股大關的公司。根據 Circana 的數據,IRI 截至 2024 年 2 月 11 日的最新 4 週美國總能源數據中,攝氏度在全國 MULOC 中創下了 11.5 份額的新紀錄。能量飲料類別現在變成了 3 支隊伍的競賽。
As of January 2024, Celsius had exceeded a 15 share in over a dozen U.S. markets and a few of those, we are within just a few points of our next closest competitor or have already taken them. Our strong innovation pipeline continues to delight consumers whose taste for zero sugar energy drinks has nearly tripled the overall category sales to a zero sugar majority. Although this year, we have launched 2 new core SKUs, Sparkling Raspberry Peach and Fizz-Free Blue Raspberry Lemonade. In addition, 2 new Celsius Vibe flavors, Astro Vibe and Galaxy Vibe, which has taken our Space Odyssey, truly even further with the launch of our Cosmic Vibe in 2023 in Circle K.
截至 2024 年 1 月,Celsius 已在十幾個美國市場佔有超過 15% 的份額,在其中一些市場上,我們與最接近的競爭對手的差距僅只有幾個百分點,或者已經被他們搶佔。我們強大的創新管道繼續讓消費者感到滿意,他們對零糖能量飲料的需求已使整體類別銷售額增長了近三倍,達到零糖飲料的大多數。雖然今年我們推出了2個新的核心SKU,即氣泡樹莓桃子飲料和無氣泡藍色樹莓檸檬水。此外,還有 2 種新的 Celsius Vibe 口味,Astro Vibe 和 Galaxy Vibe,這使我們的太空漫遊更上一層樓,2023 年我們在 Circle K 推出的 Cosmic Vibe 也是如此。
Celsius also launched Celsius Essential's product line, which has proven essential performance energy with essential aminos. We are executing our plans to grow the business internationally, taking a methodical approach in each new market we enter.
Celsius 也推出了 Celsius Essential 產品線,該產品線已被證明能夠透過必需胺基酸提供必需的性能能量。我們正在實施國際業務成長計劃,對進入的每個新市場採取有條不紊的方法。
We're very pleased with our sales in Canada after 2 months in the country. Consumer enthusiasm and acceptance has exceeded our expectations. We're pursuing disciplined growth in our best-in-class sales and marketing organizations. And just 2 weeks ago, Celsius was recognized with the 7-Eleven's prestigious 2023 Supplier of the Year award in a nonalcoholic category. This is a tremendous achievement. And I want to thank all our dedicated team members on achieving this great top industry award. Best-in-class teams drive best-in-class results.
在加拿大待了兩個月後,我們對其銷售感到非常滿意。消費者的熱情和接受度已經超出了我們的預期。我們致力於在一流的銷售和行銷組織中實現有序的成長。就在兩週前,Celsius 榮獲 7-Eleven 頒發的 2023 年度非酒精飲料類別最佳供應商獎。這是一個巨大的成就。我要感謝我們所有敬業的團隊成員,感謝他們獲得這項偉大的業界頂級獎項。一流的團隊帶來一流的成果。
With nearly full distribution, we are focusing on driving growth through 3 areas: increasing total distribution points at each location, growing in nontracked channels and international expansion over the long-term horizon. Celsius was again the top driver of the energy category in dollars and units sold in MULOC, ending in the fourth quarter, up 126.6% and up 140.2% for the full year of 2023, supporting a 30.6% of all the energy category growth for the year.
在幾乎全面分銷的情況下,我們正專注於透過三個領域推動成長:增加每個地點的總分銷點、非追蹤管道的成長以及長期的國際擴張。攝氏度再次成為 MULOC 銷售的美元和單位能源類別的最大推動力,截至第四季度,增長 126.6%,2023 年全年增長 140.2%,支撐了全年所有能源類別增長的 30.6%。
Already this year, we've launched several new and exciting innovations as well as a brand update to our line of Fizz-Free beverages, which have a strong and loyal consumer base. A new Fizz-Free multipack available now in Target stores brings together refreshing selection to our consumers who prefer the noncarbonated energy drinks.
今年我們已經推出了幾項令人興奮的創新產品,並對我們的無泡飲料系列進行了品牌更新,這些飲料擁有強大而忠誠的消費者群體。目前,Target 商店已推出一款新型 Fizz-Free 多件裝產品,為偏好非碳酸能量飲料的消費者帶來清爽的選擇。
Sales of Celsius Essentials, our new line of performance-oriented and energy, a 16-ounce beverage products launched in the fourth quarter at 7-Eleven stores across the United States and our 2 new flavors, Sparkling Mango Tango and Sparkling Fruit Burst bring the Celsius Essential line to 6 unique SKUs. As of January 2024, Celsius Essentials has achieved a record 40% ACV year-to-date, February 18th, it's at 49% ACV, continuing to see greater acceptance across retailers across the country.
Celsius Essentials 是我們新推出的性能導向能量 16 盎司飲料產品系列,於第四季度在全美 7-Eleven 便利商店推出,加上我們的兩款新口味 Sparkling Mango Tango 和 Sparkling Fruit Burst,Celsius Essential 系列的獨特 SKU 數量達到 6 個。截至 2024 年 1 月,Celsius Essentials 年初至今的 ACV 已達到創紀錄的 40%,截至 2 月 18 日,其 ACV 達到 49%,並繼續在全國零售商中獲得更高的認可。
Also in January, our Celsius on-the-go powder claimed the position in the energy powder category according to Circana's IRI commanding a 23.1 share, having increased 5.6% compared to the prior period. We have several new on-the-go powder innovations plan for this year and see great opportunities with our [virtual] on-the-go product line.
此外,根據 Circana 的 IRI,1 月份我們的 Celsius 隨身粉在能量粉類別中佔據一席之地,佔有 23.1% 的份額,比上一時期增加了 5.6%。我們今年制定了幾項新的便攜式粉末創新計劃,並看到了我們的(虛擬)便攜式產品線帶來的巨大機會。
In 2024, spring resets began in January and typically run through May. We are very pleased with the incremental space we're gaining, which will be reflected across the first and second quarters of 2024. As a reminder, planograms used for most of 2023 when our dollar sales grew 140% were created while we were holding and held approximately 4.5 share in the category. For 2024, shelf space planning was conducted with retail partners in Q3 of 2023, when we held a digital -- double-digit share position. Celsius is also now fully integrated into PepsiCo's annual planning cycle, and we anticipate ongoing close collaboration with our primary North American distribution partner and expanded key accounts team.
2024 年,春季重置於 1 月開始,通常持續到 5 月。我們對所獲得的增量空間感到非常滿意,這將反映在 2024 年第一季和第二季。對於 2024 年,貨架空間規劃是與 2023 年第三季與零售合作夥伴一起進行的,當時我們的份額為兩位數。 Celsius 現在也已完全融入百事可樂的年度計劃週期,我們期待與我們的主要北美分銷合作夥伴和擴大的大客戶團隊持續密切合作。
Our pursuit of a perfect store resulted in a 60% increase in display activity across the United States, and we placed more than over 10,000 Celsius branded coolers in 2023 and an increase of over 300% year-over-year. We intend to continue growing our base of branded coolers throughout this year.
我們對完美商店的追求導致全美展示活動增加了 60%,並且我們在 2023 年放置了超過 10,000 個 Celsius 品牌的冷卻器,同比增長超過 300%。我們打算在今年繼續擴大我們的品牌冷卻器基礎。
Nontracked channels continue to be a tailwind for us as well. Club sales for the fourth quarter were $77.1 million, up 64% year-over-year. Club sales for the full year 2023 were $254.6 million, representing an $83.6 million increase year-over-year.
非追蹤管道對我們來說也繼續是一種順風。第四季俱樂部銷售額為 7,710 萬美元,較去年同期成長 64%。 2023 年全年俱樂部銷售額為 2.546 億美元,年增 8,360 萬美元。
We achieved the #1 energy drink position on Amazon in 2023, finishing the full year revenue at $101 million, a 72.9% increase year-over-year. Our refreshing great tasting products are ideal for the meal occasion, and today, more than 12.5% of our PepsiCo sales is to the foodservice channel. For example, in 2023, we gained distribution in over 2,000 Jersey Mike stores and are authorized to sell in more than 3,000 Dunkin' Donut locations nationwide. We believe there is incremental growth opportunities for Celsius and nontracked outlets, such as vending, hospitals, corporate cafeterias and college campuses and more.
我們在 2023 年取得了亞馬遜上能量飲料第一名的位置,全年收入達到 1.01 億美元,年增 72.9%。我們清爽可口的產品非常適合用餐場合,今天,百事可樂 12.5% 以上的銷售額來自餐飲管道。例如,2023 年,我們獲得了超過 2,000 家 Jersey Mike 商店的分銷權,並被授權在全國超過 3,000 家 Dunkin' Donut 門市銷售。我們相信,Celsius 和非追蹤網點(如自動販賣機、醫院、公司自助餐廳和大學校園等)都存在增量成長機會。
Turning to international. We began distribution in sales in Canada through Pepsi in mid-January. As we had previously signaled, after approximately 1 month of sales, we are very pleased with the results and even more so to delight our Canadian consumers who have embraced our products.
走向國際。我們於一月中旬開始透過百事可樂在加拿大分銷銷售。正如我們之前所暗示的那樣,經過大約 1 個月的銷售,我們對結果非常滿意,甚至更為接受我們產品的加拿大消費者感到高興。
International sales reached $14.6 million in the fourth quarter of 2023 and $54.7 million for the full year.
2023 年第四季國際銷售額達 1,460 萬美元,全年達 5,470 萬美元。
Also in January, we announced a sales and distribution agreement with Suntory Beverage for Great Britain and Ireland. We expect sales in the United Kingdom to begin gradually starting in the Finnish channel in the second quarter.
此外,今年 1 月,我們宣布與三得利飲料公司達成針對英國和愛爾蘭的銷售和分銷協議。我們預計英國的銷售將於第二季從芬蘭通路開始逐步展開。
We expect additional international expansion this year. And as previously stated, we're taking a methodical approach to our international growth, and we will be following our international growth playbook in each new market we enter.
我們預計今年將進一步擴張國際業務。正如之前所說,我們對國際成長採取了有條不紊的方法,我們將在進入的每個新市場遵循我們的國際成長策略。
Before I hand it over to Jarrod to discuss financial highlights for the quarter and the full year, we have several exciting marketing developments and achievements to be proud of. Celsius recently announced a renewed multiyear global team sponsorship with Formula One's iconic Ferrari racing team. Major League soccer kicked off its regular season last week, and Celsius is a proud league partner as well as key sponsor of multiple teams and players across the United States and Canada. These strategic investments placed our premium brand in the forefront of consumers who share our passion to live fit.
在我把主題交給賈羅德來討論本季和全年的財務亮點之前,我們有幾個令人興奮的行銷發展和成就值得驕傲。 Celsius 最近宣布與一級方程式賽車隊的標誌性法拉利車隊續簽多年全球車隊贊助協議。美國職業足球大聯盟的常規賽上週拉開序幕,Celsius 是該聯盟的驕傲合作夥伴,也是美國和加拿大多支球隊和球員的主要贊助商。這些策略投資使我們的高端品牌成為和我們一樣熱衷於健康生活的消費者的首選。
With that, I'll pass it over to our Chief Financial Officer, Jarrod Langhans, to discuss our fourth quarter and 2023 full year financial results. Jarrod?
接下來,我將把話題轉交給我們的財務長 Jarrod Langhans,討論我們的第四季和 2023 年全年財務表現。賈羅德?
Jarrod Langhans - CFO
Jarrod Langhans - CFO
Thanks, John. It was another great quarter in which we continue to exceed both internal and external expectations. Not only are we continuing to benefit from Pepsi's distribution system, but we're also delivering on increased SKU count, improved placement, increased displays and continuous improvement within velocities. As we look to Q1 and beyond, we will continue to invest in our growth.
謝謝,約翰。這又是一個偉大的季度,我們繼續超越內部和外部的預期。我們不僅繼續受益於百事可樂的分銷系統,而且還增加了 SKU 數量、改善了位置、增加了展示並持續提高了速度。展望第一季及以後,我們將繼續投資於我們的成長。
Turning to our fourth quarter financial highlights. Revenue for the 3 months ended December 31, 2023, was approximately $347 million, an increase of 95% from $178 million for the 3 months ended December 31, 2022. Driven by our North American business, where fourth quarter revenues were $333 million, an increase of 97% from the same period in 2022. International revenue grew 68% to $15 million as velocity continued to increase. As it relates to days on hand with our primary distributor, our inventory turns relative to depletions was consistent with our Q3 2023 turnover.
談談我們第四季的財務亮點。截至 2023 年 12 月 31 日的 3 個月的收入約為 3.47 億美元,較截至 2022 年 12 月 31 日的 3 個月的 1.78 億美元增長 95%。萬美元。與我們主要經銷商的庫存天數相關,我們的庫存週轉率相對於消耗量與我們 2023 年第三季的營業額一致。
We attribute our sales volume growth for the quarter compared to 2022 to several key drivers, including successful integration into the Pepsi distribution system, which has resulted in broader availability, increased SKU mix, and improved placement. We're also benefiting from robust expansion in our traditional distribution channels and club channels with SKU increases in placement improvements contributing significantly. Moreover, our products are now found in several new channels within CNG and foodservice.
與 2022 年相比,我們將本季的銷售量成長歸因於幾個關鍵驅動因素,包括成功融入百事可樂分銷系統,從而擴大了供應範圍、增加了 SKU 組合併改善了佈局。我們也受益於傳統分銷管道和俱樂部管道的強勁擴張,其中SKU的增加對展示位置的改善做出了重大貢獻。此外,我們的產品現已進入 CNG 和食品服務領域的多個新管道。
Gross profit for the 3 months ended December 31, 2023, increased 110% to $166 million, up from $79 million in the year ago quarter. Gross profit margins in the fourth quarter were approximately 48% of revenues compared to approximately 44% for the prior year fourth quarter. The improvement in gross profit margins is attributed to efficiencies in raw material sourcing product-based reduction and benefits from improved leverage across promotional allowances. Q4 was the fifth consecutive quarter that we were operating within the Pepsi distribution system, and we expect to continue driving efficiencies while maintaining our #1 goal of keeping the shelf stock to meet strong consumer demand.
截至 2023 年 12 月 31 日的 3 個月的毛利從去年同期的 7,900 萬美元增長 110% 至 1.66 億美元。第四季毛利率約為營收的48%,去年同期約為44%。毛利率的提高歸功於原物料採購效率的提高、產品的減量以及促銷折扣槓桿率的提高。第四季是我們在百事可樂分銷系統內連續營運的第五個季度,我們預計將繼續提高效率,同時保持我們的首要目標,即保持貨架庫存以滿足強勁的消費者需求。
Sales and marketing expenses for the quarter were approximately $80 million, a decrease of approximately 11% compared to the fourth quarter of 2022. The decrease was due to prior year costs associated with the termination of legacy distributors as part of the transition to the Pepsi network.
本季銷售和行銷費用約為 8,000 萬美元,與 2022 年第四季相比減少約 11%。
We continue to invest behind our growth in Q4, incurring sales and marketing costs in line with historical rates. As a percentage of sales, sales and marketing was 23% compared to 29% in the prior year adjusted for distributor termination expenses in 2022. We plan to continue investment in our sales and marketing and plan a similar spend as a percentage of sales in the first quarter of 2024.
我們繼續為第四季度的成長進行投資,產生的銷售和行銷成本與歷史水平一致。以銷售額的百分比計算,2022 年銷售和行銷費用為 23%,而上年為 29%,經經銷商終止費用調整後為 29%。
General and administrative expenses for the 3 months ended December 31, 2023, were approximately $27 million, an increase of 24% relative to Q4 2022. As a percentage of sales, G&A was 8% compared to 12% in the prior year as we continue to leverage our G&A against our significant growth. And looking back at prior periods, even with our historical growth rates, we do tend to see some seasonality within the fourth quarter relative to the third quarter. We saw similar activities in the fourth quarter, whereby we are not able to capitalize on the great work from our sales and marketing teams as it relates to displays on hand and other promotional activities that we are able to take advantage of during the summer selling season. Even with this, we ended the year strong and have since well exceeded the 10 share marker as noted by John earlier in the call.
截至 2023 年 12 月 31 日的 3 個月的一般及行政費用約為 2700 萬美元,較 2022 年第四季度增長 24%。回顧之前的時期,即使按照我們的歷史成長率,我們確實也傾向於看到第四季度相對於第三季度存在一些季節性。我們在第四季度也看到了類似的活動,即我們無法利用銷售和行銷團隊的出色工作,因為它涉及現有展示和其他促銷活動,我們可以在夏季銷售季節利用這些活動。即便如此,我們仍然以強勁的勢頭結束了這一年度,正如約翰早些時候在電話會議上指出的那樣,我們的股價已經遠遠超過了 10 股的關口。
Looking at the full year 2023. As you will see in the 10-K issued this morning, we made great progress in our remediation efforts around our internal control environment. We were successful in remediating the prior period controls associated with IT general controls as well as creating and delivering a much more robust [coastal] environment. Although we made huge strides in 2023, there are still a handful of areas where components of larger areas of the control environment needs some additional time to fully remediate.
展望 2023 年全年。 正如您在今天早上發布的 10-K 中看到的那樣,我們在內部控制環境的補救工作方面取得了巨大進展。我們成功修復了與 IT 一般控制相關的前期控制,並創建並提供了更強大的 [沿海] 環境。儘管我們在 2023 年取得了巨大進步,但仍有少數領域,較大控制環境區域的組成部分需要更多時間才能完全修復。
With that said, I'd like to thank the entire Celsius team for the great effort and in particular, our finance and IT teams for their focus and dedication to this matter in 2023. I look forward to our continued progress in 2024.
話雖如此,我要感謝整個 Celsius 團隊的巨大努力,特別是我們的財務和 IT 團隊在 2023 年對此事的關注和奉獻。
Now to the results. Revenue for the 12 months ended December 31, 2023, was approximately $1.3 billion an increase of 102% from $654 million for the 12 months ended December 31, 2022, driven by our North American business. North America full year 2023 revenues were $1.27 billion, an increase of 105% from the same period in 2022. International revenue grew 52% to $55 million in 2023 relative to full year 2022.
現在來看看結果。截至 2023 年 12 月 31 日的 12 個月的收入約為 13 億美元,較截至 2022 年 12 月 31 日的 12 個月的 6.54 億美元增長 102%,這得益於我們的北美業務。 2023 年北美全年營收為 12.7 億美元,較 2022 年同期成長 105%。
Gross profit for the 12 months ended December 31, 2023, increased 134% to $633 million, up from $271 million in the prior year period. Gross profit margins in the full year of 2023 were approximately 48% of revenues compared to approximately 41% for the prior year period. The improvement in gross profit margins is attributed to lower package and raw material costs.
截至 2023 年 12 月 31 日的 12 個月的毛利從去年同期的 2.71 億美元成長 134% 至 6.33 億美元。 2023 年全年毛利率約為營收的 48%,而去年同期約為 41%。毛利率的提高得益於包裝和原物料成本的下降。
As things stand today, we would expect 2024 gross profit margins to be fairly consistent with the Q4 and full year margin profile, as we are confident in maintaining the great progress that was made in 2023. We are always shooting for the moon but with the uncertainty around the macro environment from both an operational and promotional perspective, we believe that it is prudent to give ourselves some additional time into 2024.
從目前的情況來看,我們預計 2024 年的毛利率將與第四季度和全年的利潤率基本一致,因為我們有信心保持 2023 年取得的巨大進步。 我們一直在努力實現目標,但從營運和促銷的角度來看,宏觀環境都存在不確定性,我們認為給自己一些額外的時間到 2024 年是明智之舉。
As a percentage of sales, sales and marketing was 20% in the 12 months of 2023 compared to 24% in the prior year same period, adjusted for distributor termination expenses. This demonstrated the leverage that we can obtain within our sales and marketing costs.
以銷售額百分比計算,2023 年 12 個月的銷售和行銷佔比為 20%,而去年同期為 24%,經經銷商終止費用調整後。這證明了我們可以在銷售和行銷成本中獲得的槓桿作用。
We made great progress in 2023, but we are now moving to the next level and the next target beyond 10% market share. And to do that, we will need to continue to invest in our growth and our brand, as seen with the multiple Super Bowl activations that we did in February, our recently announced multiyear partnership with Ferrari within Formula One as well as our multiyear MLS partnership.
我們在 2023 年取得了巨大進步,但我們現在正在邁向新的水平,並邁向超越 10% 市場份額的下一個目標。為了做到這一點,我們需要繼續投資於我們的成長和品牌,正如我們在二月份進行的多次超級碗活動、我們最近宣布與法拉利在 F1 賽事中建立的多年合作夥伴關係以及我們多年的 MLS 合作夥伴關係所見。
G&A expense as a percentage of sales was 8% for the 12 months of 2023 versus 12% in the prior year same period. We will continue to invest in our back shop and build out a team that is value-added to our operations, sales and marketing programs. There will be opportunity to further leverage G&A in 2024 and beyond, but it will be at a thoughtful and methodical pace.
2023 年 12 個月的 G&A 費用佔銷售額的百分比為 8%,而去年同期為 12%。我們將繼續投資於我們的後勤部門並建立一支能為我們的營運、銷售和行銷計劃增值的團隊。 2024 年及以後將有機會進一步利用 G&A,但將會以深思熟慮且有條不紊的步伐進行。
Focusing now on liquidity and capital resources. As of December 31, 2023, we had cash in excess of $755 million and net working capital in excess of $928 million. Cash flows provided by operating activities totaled in excess of $140 million for the 12 months ended December 31, 2023, which compares to $108 million in net cash provided by operating activities for the 12 months ended December 31, 2022.
現在重點關注流動性和資本資源。截至 2023 年 12 月 31 日,我們的現金超過 7.55 億美元,營運淨資本超過 9.28 億美元。截至 2023 年 12 月 31 日的 12 個月,經營活動提供的現金流總計超過 1.4 億美元,而截至 2022 年 12 月 31 日的 12 個月,經營活動提供的淨現金為 1.08 億美元。
We will continue to invest in our business (technical difficulty).
我們將繼續對我們的業務進行投資(技術難度)。
Operator
Operator
(Operator Instructions). Our first question comes from the line of Mark Astrachan with Stifel.
(操作員指令)。我們的第一個問題來自 Stifel 的 Mark Astrachan。
Mark Stiefel Astrachan - MD
Mark Stiefel Astrachan - MD
Two questions for me. One, just on gross margin, maybe talk a little bit about why it stepped back in 4Q relative to 3Q, even after adjusting for the promotional allowance accrual last quarter, meaning I would have expected to see a little bit better. Was there some sort of one-offs in that number? And how do we think about progression of that into '24?
我有兩個問題。第一,僅就毛利率而言,也許可以稍微談一下為什麼第四季度相對於第三季度有所回落,即使在調整了上個季度的促銷津貼累積之後,這也意味著我預計會看到更好的表現。這個數字中是否存在某種一次性事件?那我們又該如何看待這種趨勢在 24 年的發展呢?
And then the second question, I appreciate the commentary on inventories from a channel standpoint with your largest customer. But if I take a look at what the sales look like in the [scanner] data track channels in addition to what you disclosed in the regulatory filings on Amazon and Costco sales, I still get a fairly big disconnect between what it looks like you should have sold in the quarter and what you actually did, meaning that you undershipped somewhere in the channel. So maybe you could help with that, too.
然後第二個問題,我很欣賞從您最大客戶的管道角度對庫存的評論。但是,如果我除了查看你們在監管文件中披露的亞馬遜和好市多銷售情況之外,再看一下(掃描儀)數據跟踪渠道的銷售情況,我仍然會發現你們本季度應該銷售的商品和實際銷售量之間存在相當大的差距,這意味著你們在某個渠道的出貨量不足。所以也許你也可以幫忙。
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
Yes. Thank you, Mark. I'll join in on the first part of the question, and I'll throw it over to Jarrod as well. I think when you look at the overall margins, I think we're really pleased with the margins, especially for the full year, up over 660 basis points. Just a phenomenal job on behalf of the team on supply chain and our key accounts team. We're maintaining a pricing promotional architecture within the category.
是的。謝謝你,馬克。我將加入問題的第一部分,我也將把它交給賈羅德。我認為,當您查看整體利潤率時,我們對利潤率感到非常滿意,尤其是全年利潤率,上漲了 660 個基點以上。供應鏈團隊和大客戶團隊做出了卓越的工作。我們維護該類別內的定價促銷架構。
When you look at the, really the fourth quarter, we did launch a new line, our Celsius Essentials line, which are the 16-ounce line, and we had a variety of innovational launches that were executed during the quarter. So I think we're pretty pleased with where the margins came in, and there's opportunities to improve going forward. But at this point in time, I think that's a -- team did a really good job for the year.
看看第四季度,我們確實推出了一條新生產線,即我們的 Celsius Essentials 生產線,這是 16 盎司的生產線,我們在本季度推出了多種創新產品。因此我認為我們對利潤率感到非常滿意,未來還有改進的機會。但就目前而言,我認為──團隊今年的表現非常出色。
And in regards to inventory by channel, we did have some seasonal impact in Q4 that we did experience. We did have good results on Amazon and within the club channel, but we did see especially impacted mainly in food and really large format. A lot of our volume, we've done a great job on half of our distribution partner as well, really keeping the amount of cases on display up. We're still gaining -- we hope to gain additional placements and additional expansion in the upcoming sets that are being reset. But we do rely heavily, especially in large format on display activity. And when you look at the fourth quarter, we do see a lot of display activity coming from seasonal items that we're competing with outside of the summer or the rest of the year. So those are some headwinds we experienced in the fourth quarter, but I'll throw it over to Jarrod for any additional highlights.
就各通路庫存而言,我們第四季確實受到了一些季節性影響。我們確實在亞馬遜和俱樂部通路取得了良好的業績,但我們確實看到,影響主要集中在食品和大型格式上。對於我們大部分的銷售而言,我們在一半的分銷合作夥伴上也做得很好,確實保持了較高的展示量。我們仍在不斷進步——我們希望在即將重置的套裝中獲得額外的位置和額外的擴展。但我們確實嚴重依賴,尤其是在大幅面顯示活動方面。而當你看第四季時,我們確實看到很多展示活動來自我們在夏季或一年中其他時間之外競爭的季節性商品。這些是我們在第四季度遇到的一些阻力,但如果有更多亮點,我將交給賈羅德。
Jarrod Langhans - CFO
Jarrod Langhans - CFO
No, you're right, John. It's -- when we're looking at kind of just more of a days-on-hand perspective with our largest distributor, we did have the innovations that we filled the pipe with that would offset, I would say maybe some reductions you're talking about, Mark. But on a net-net basis, the days on hand in total for us was in good shape. And to John's point, the Q4 tends to be a little bit pressured just because of the inventory on hand across our retail customers and our mass and grocery customers.
不,你是對的,約翰。當我們從我們最大分銷商的庫存天數角度來看待問題時,我們確實有一些創新,可以彌補你所說的一些減少,馬克。但從淨額計算,我們手邊的總可用天數狀況良好。正如約翰所說,由於我們的零售客戶、大眾和雜貨客戶庫存充足,第四季往往會面臨一些壓力。
Mark Stiefel Astrachan - MD
Mark Stiefel Astrachan - MD
Got it. Maybe just one follow-up then. If we think about the innovation in your comments you just made about the net-net kind of equaling out. It sounds like you're saying that the innovation offset the legacy products. Is that the case as you think about the shelf resets and incremental distribution, meaning it can't be a 1:1, so you're going to add more space. So why wouldn't the Pepsi system take more of the products, meaning taking innovation plus the legacy because you've got to backfill the legacy sales?
知道了。那麼可能僅需一次後續行動。如果我們思考一下您剛才在評論中提出的有關淨平衡的創新。聽起來你是說創新抵銷了傳統產品的影響。當您考慮架子重置和增量分佈時,情況是否如此,這意味著它不能是 1:1,因此您需要添加更多空間。那麼百事可樂系統為什麼不採用更多的產品,也就是採用創新加上傳統,因為你必須填補傳統銷售的空缺?
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
Yes. I think when we looked at our #1 customer, we look at their inventory levels, they're fairly consistent with Q3 to Q4. So even though we did take some innovation on. So it's -- I think if we look at the scan data, we had really strong scan data in the fourth quarter, and it's -- we'll see how this continues to evolve.
是的。我認為,當我們查看我們的第一大客戶時,我們會查看他們的庫存水平,它們與第三季度至第四季度相當一致。因此儘管我們確實進行了一些創新。所以,我認為,如果我們看一下掃描數據,我們會發現第四季度的掃描數據確實非常強勁,而且,我們將看到這種情況將如何繼續發展。
Jarrod Langhans - CFO
Jarrod Langhans - CFO
Yes, it's a good question, Mark. I think, we can just tell you where we were as of 12/31 and on a net-net basis, in total, our days on hand were consistent and in good shape. And as we got to January, we started rolling out all of the innovation that you can see all across the U.S., and it's been very successful and being very good and it has been incremental thus far.
是的,這是個好問題,馬克。我想,我們可以告訴你我們截至 12 月 31 日的情況,從淨額來看,總體而言,我們的可用天數是一致的,狀況良好。進入一月份,我們開始在全美推出各種創新措施,這些措施非常成功,效果非常好,而且迄今為止一直在穩步推進。
Operator
Operator
Our next question comes from the line of Peter Grom with UBS.
我們的下一個問題來自瑞銀的 Peter Grom。
Peter K. Grom - Director of Equity Research & Analyst
Peter K. Grom - Director of Equity Research & Analyst
So I was hoping to get some perspective on how you're thinking about the market share trajectory from here. Obviously, things sort of leveled out towards the latter portion of '23, but we've actually seen some nice improvement to start the year. Maybe just to start, is the improvement we've seen year-to-date, largely a function of kind of that innovation you touched on rather than shelf resets. And then I guess with more resets to come, how would you think investors should think about the share trajectory as we look out to March and into the spring. Jarrod, you mentioned that you've now surpassed 10%. You're now focusing on a new target. So just any color on what that new target might be from a share perspective.
因此,我希望了解您對當前市場份額趨勢的看法。顯然,情況在 23 年後期趨於平穩,但我們實際上看到了年初的一些良好改善。也許只是開始,我們今年迄今為止看到的改進,很大程度上是您所提到的創新的功能,而不是貨架重置。然後,我想隨著更多重置的到來,您認為投資者應該如何看待 3 月和春季的股價走勢。賈羅德,你提到你現在已經超過了 10%。您現在正專注於一個新的目標。因此,從份額角度來看,新的目標可能是什麼?
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
Yes. No. Thank you, Peter. I mean we're not going to give any forward guidance on the future share, but we do look at the current trajectories and where we are currently at within different category -- within a variety of segments and the categories. And you mentioned Amazon. We disclosed Amazon. We're close to a 20 share within the energy category on Amazon. And then -- if you also look at -- I mentioned in my script, we have 12 key markets that we're tracking ahead of 15 share within the category and that's MULOC data. So there is a good trajectory there.
是的。不,謝謝你,彼得。我的意思是,我們不會對未來的份額給出任何前瞻性的指引,但我們會關注當前的發展軌跡以及我們目前在不同類別中所處的位置——在不同的細分市場和類別中。您提到了亞馬遜。我們披露了亞馬遜。我們在亞馬遜能源類別的份額已接近20%。然後 — — 如果你也看一下 — — 我在我的腳本中提到過,我們有 12 個關鍵市場,我們正在跟踪這些市場,領先於該類別中的 15 個份額,這就是 MULOC 數據。因此那裡有一條良好的軌跡。
I think the biggest opportunity for us when you look at it is really in convenience. And we've built this brand going through the variety of channels. And the last -- the biggest opportunity is in convenience, where you about 56% 57% of all sales are sold.
我認為,對我們來說最大的機會確實在於便利。我們透過各種管道打造這個品牌。最後——最大的機會在於便利性,約有 56% 至 57% 的銷售額都是在這裡實現的。
So that's where we anticipate the biggest resets to take place. In the coming resets, right now, in the convenience channel, we are just at a 10 share. So we're really excited about the opportunities you have there versus if you just look at the food category, we're roughly around a 16 share within the energy category.
因此我們預計最大的重置將發生在那裡。在即將到來的重置中,現在,在便利管道中,我們僅處於 10 股。因此,我們對您在那裡擁有的機會感到非常興奮,如果只看食品類別,我們在能源類別中的份額大約為 16%。
So those are some recent data points that we have that, that we've shared within the script as well as in the earnings release. And we've talked before, we're somewhere between the average, as Jarrod mentioned, we're about we closed at about a 10 share, and we're on close to a 20 share within Amazon. So we're working hard. The team is working hard and we're executing, and that doesn't include the new 16-ounce Essentials line, which is just getting started this year, which we're excited about.
這些是我們擁有的一些最新數據點,我們已經在腳本以及收益報告中分享了這些數據。我們之前談過,我們處於平均水平之間,正如賈羅德提到的,我們的收盤價約為 10 %,而亞馬遜的收盤價接近 20 %。所以我們正在努力工作。團隊正在努力工作,我們正在執行,這還不包括今年剛開始的全新 16 盎司 Essentials 系列,我們對此感到非常興奮。
Peter K. Grom - Director of Equity Research & Analyst
Peter K. Grom - Director of Equity Research & Analyst
No, that's really helpful. And then I guess just on follow-up just on international. Can you maybe help us understand how we should think about the contribution from a revenue perspective. Are you exploring any additional markets for this year? Or would anything else kind of be more of a '25 narrative? And then just within that, I'm sure a lot of people and you've gotten this question a lot, but just, maybe explain why Suntory was the distributor of choice for the U.K. and Ireland?
不,這確實很有幫助。然後我想只是對國際進行後續跟進。您能否幫助我們理解我們應該如何從收入角度考慮貢獻?今年會探索其他市場嗎?或者還有什麼其他東西更像 25 年代的敘事?然後就這一點而言,我相信很多人和你一樣經常被問到這個問題,但也許可以解釋為什麼三得利是英國和愛爾蘭的首選經銷商?
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
Yes. Thank you, Peter. I think number one, when we look at international expansion, we just went into Canada. We talked about that into -- on the script. We're really excited on the consumer acceptance. We're also excited about the -- we're in 7-Eleven in Couche-Tard. It's product is doing really well, and we're expanding. So our partner is excited. Canada should be a big market. U.K., did announce Suntory for our partner there. They -- we're looking for the best partners to align with on our go-to-market strategy. One thing that was very attractive about Suntory is their access to the gym community.
是的。謝謝你,彼得。我認為,首先,當我們考慮國際擴張時,我們剛剛進入加拿大。我們在劇本中討論了這個問題。我們對消費者的接受度感到非常興奮。我們也對此感到興奮——我們在 Couche-Tard 的 7-Eleven 有店。它的產品銷售非常好,我們正在擴大規模。所以我們的合作夥伴很興奮。加拿大應該是一個大市場。英國確實宣布三得利將成為我們在那裡的合作夥伴。他們——我們正在尋找最佳合作夥伴來配合我們的行銷策略。三得利非常吸引人的一點是其可以進入健身社群。
And we're really focused on a methodical approach as we expand and grow, really about building awareness, trial, that foundational base of loyalty and then scaling. So as we look to see the size and the timing and sequencing of international, I think that's -- we'll know that as we go through these markets and expand in these markets. And how quickly we are accepted, we can move as fast as we can. But we want to be very cognizant on entering new markets through a methodical approach about building that loyal foundation before we go and overall scale. So those are the comments there in regards, and we're really excited about our partnership with Suntory.
隨著我們的擴張和發展,我們真正注重的是系統性的方法,真正專注於建立知名度、嘗試、忠誠度的基礎,然後擴大規模。因此,當我們觀察國際市場的規模、時間和順序時,我認為,隨著我們進入這些市場並在這些市場中擴張,我們就會知道這一點。我們被接受的速度有多快,我們就能以最快的速度前進。但我們希望非常清楚,在進入新市場之前,要透過有條不紊的方法建立忠誠的基礎,並擴大整體規模。這就是相關的評論,我們對與三得利的合作感到非常興奮。
Operator
Operator
Our next question comes from the line of Michael Lavery with Piper Sandler.
我們的下一個問題來自 Piper Sandler 的 Michael Lavery。
Michael Scott Lavery - MD & Senior Research Analyst
Michael Scott Lavery - MD & Senior Research Analyst
You touched on unmeasured channels as one of your big opportunities and gave some examples, corporate cafeterias, universities vending. There's lots of physical distribution points under all that. And I just would love to get a sense of how we should think about how quickly -- how close to hand those are? How quickly those could ramp up, kind of what the trajectory might look like for momentum in those areas?
您提到未測量管道是您的巨大機會之一,並舉了一些例子,例如公司餐廳、大學自動販賣機。這之下有很多物理分佈點。我只是想了解我們該如何思考這些問題——這些問題距離解決還有多遠?這些領域能夠以多快的速度成長,其發展軌跡又是什麼樣的呢?
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
Yes. I think everyone is really excited about that. When you look at our PepsiCo revenues, over 12% is coming from really the foodservice. Internally here, we think there's a big opportunity there. We see that Celsius is much broader opportunity when you look at the TAM versus, say, traditional energy, we're seeing consumers -- consumer consumption increase outside of that energy need state. We're seeing the product being paired with sandwiches and smoothies and bowls and a variety of opportunities for fast casual.
是的。我想每個人都對此感到非常興奮。當你查看百事可樂的收入時,你會發現超過 12% 的收入實際上來自餐飲服務。從內部來看,我們認為那裡有很大的機會。我們發現,與傳統能源相比,從 TAM 來看,Celsius 的機會要廣闊得多,我們看到消費者——消費者消費在能源需求狀態之外增加。我們看到該產品與三明治、冰沙、碗和各種快餐休閒食品搭配在一起。
So I think it's a little bit too early for us to really know how big that opportunity is. We have a -- we'll probably know over the next 12 to 24 months as we further expand in some additional quick service as well as expand in additional foodservice accounts and then universities and hospitals as well is a huge opportunity for us. Not able to quantify that at this time, but we do see it as big opportunity.
因此我認為現在我們還無法真正了解這個機會有多大。我們有一個——我們可能會知道在未來的 12 到 24 個月內,隨著我們進一步擴大一些額外的快餐服務以及擴大額外的餐飲服務帳戶,然後大學和醫院也對我們來說是一個巨大的機會。目前還無法量化,但我們確實認為這是一個巨大的機會。
Michael Scott Lavery - MD & Senior Research Analyst
Michael Scott Lavery - MD & Senior Research Analyst
Okay. And just on the Canada, U.K., Ireland launches, as we think about margins for 2024, obviously, you'd spend ahead of really ramping those revenues. And so all else equal, should we expect a dip in EBITDA margins for -- or EBIT margins for 2024 versus 2023? Or can you just give us a sense of how to think about the spending or what's in your plans for how that looks?
好的。就在加拿大、英國和愛爾蘭推出這款產品時,我們考慮 2024 年的利潤率,顯然你會在真正增加這些收入之前花錢。那麼,在其他條件相同的情況下,我們是否應該預期 2024 年的 EBITDA 利潤率或 EBIT 利潤率會相對於 2023 年有所下降?或者您能否告訴我們您如何考慮支出,或者您對此有何計劃?
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
Yes. I'll turn that over to Jarrod for additional comments.
是的。我將把這個問題轉交給賈羅德 (Jarrod) 來徵求他的進一步評論。
Jarrod Langhans - CFO
Jarrod Langhans - CFO
Yes. So they're going to be a little different. Canada where most of the population is, I think, within 80 miles of the U.S. border and also being so close. We actually already had a co-packer in Canada that we were using as a backup for our U.S. business. So that rollout and that growth, we think, will be at a different trajectory than the U.K., which we're kind of launching from 0. So there will be investment in both markets as we build brand awareness and as we really build out the system. We won't have the same scale and leverage advantages within the manufacturing as we do in the U.S. So there is going to be some costs and some investment there. But it will be, let's call it -- it's not going to be a significant component of either our growth or our cost infrastructure this year. So we do believe that the numbers that we discussed on our prepared remarks, we'll be able to handle those investments as well.
是的。所以它們會有些不同。我認為,加拿大的大部分人口都居住在距離美國邊境 80 英里以內的地方,而且距離美國邊境很近。事實上,我們在加拿大已經有一家聯合包裝商,我們將其作為我們美國業務的後備。因此,我們認為,與英國相比,我們的推出和成長軌跡將有所不同,英國是從零開始的。我們在製造業方面不會擁有像美國那樣的規模和槓桿優勢。但它不會成為我們今年成長或成本基礎設施的重要組成部分。因此,我們確實相信,我們在準備好的評論中討論的數字,我們也將能夠處理這些投資。
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
Yes. And I'll just -- in regards to -- when you look at it, Michael, one thing we've noticed is the brand awareness, even though we're not in the U.K., there is an underlying brand awareness just associated with -- the world is really so small these days, a one click away. So a lot of our influencers and social media activations are actually being picked up with our potential consumers in the U.K. So we had a little bit -- we have more brand awareness than we actually had initially anticipated based on our research. So we're excited, we think it's going to be a great market for us.
是的。我只是 — — 關於 — — 邁克爾,當你看到它時,我們注意到的一件事就是品牌知名度,即使我們不在英國,也存在著一種潛在的品牌知名度 — — 如今,世界真的太小了,只需點擊一下滑鼠就可以到達。因此,我們的許多有影響力的人和社交媒體活動實際上都被英國的潛在消費者所接受。所以我們很興奮,我們認為這對我們來說將是一個很好的市場。
Operator
Operator
Our next question comes from the line of Gerald Pascarelli with Wedbush Securities.
我們的下一個問題來自 Wedbush Securities 的 Gerald Pascarelli。
Gerald John Pascarelli - Senior VP of Beverage Equity Research
Gerald John Pascarelli - Senior VP of Beverage Equity Research
Great. Just one on gross margin. Another quarter in the high 40s here. But in the energy category, you've already had a larger competitor take a rate increase. There's sentiment that your larger competitor will ultimately follow suit. So in the event this happens, how do you think about managing your price gaps relative to peers? I guess, just curious on your thoughts around a potential rate increase this year as that would obviously imply upside to your high 40s margin target? Any color there would be great.
偉大的。毛利率只有一個。這裡又一個季度的氣溫高達 40 多度。但在能源類別中,更大的競爭對手已經提高了費率。有一種觀點認為,你的更大競爭對手最終也會跟進。那麼,如果發生這種情況,您考慮如何管理與同行的價格差距?我想,我只是好奇您對今年潛在升息的看法,因為這顯然意味著您的 40% 高利潤目標將上行?任何顏色都很棒。
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
Yes. Thank you, Gerald. There's opportunities. We want to be a premium-priced product. I think if you look at it per ounce basis, we feel we're very competitively priced. There's a variety of different levers than just taking frontline pricing. So we have our pricing promotional strategies that we utilize as well. We just -- we're launching a new line extension as well with our Celsius Essential 16-ounce. And then you also -- you have your pricing architecture by channel as well so in pack size.
是的。謝謝你,傑拉爾德。有機會。我們希望成為高價產品。我認為,如果按照每盎司計算,我們的價格非常有競爭力。除了採用一線定價之外,還有多種不同的手段。因此,我們也採用自己的定價促銷策略。我們剛剛推出了一條新的產品線延伸,即我們的 Celsius Essential 16 盎司產品線。然後你還可以 — — 你還有一個按通路和包裝大小劃分的定價架構。
So there's ways to navigate that. I think we're very pleased with the way we finished the year with margins and we're really focused on driving share and revenue growth and continue to drive consumer consumption and ultimately, that daily consumption we're looking for. And we're just really getting started here. When you look at just now a 10 share in the energy category in convenience. So there's a long runway ahead. But it's something we watch closely. At this point, we're not going to make any comments on future any price increases at this time.
所以有辦法解決這個問題。我認為,我們對今年的利潤率感到非常滿意,我們真正專注於推動份額和收入成長,並繼續推動消費者消費,最終推動我們所尋求的日常消費。我們才剛開始。當您查看剛才的能源類別時,便利性佔有 10% 的份額。因此,前面還有很長的路要走。但我們正在密切關注此事。目前,我們不會對未來的任何價格上漲發表任何評論。
Gerald John Pascarelli - Senior VP of Beverage Equity Research
Gerald John Pascarelli - Senior VP of Beverage Equity Research
Understood. Just one more for me. I think your nonmeasured channel revenue came in a little better than expected, specifically related to Amazon at least what we were modeling for. In a lower seasonal quarter, your 4Q absolute revenue is almost in line with your second quarter, which obviously benefited from Prime Day. So any incremental color on the drivers in the quarter within that channel would be helpful if you could provide any.
明白了。對我來說僅此一項。我認為您的未測量通路收入比預期要好一些,具體與亞馬遜相關,至少是我們所建模的。在淡季,您的第四季度絕對收入幾乎與第二季度持平,這顯然受益於 Prime Day。因此,如果您能提供該頻道本季內驅動因素的任何增量顏色,將會很有幫助。
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
Yes. I mean Amazon, we had a great -- in the quarter, it was a great period. And there is a lot of timing as well within shipments and how the Amazon kind of controls or feeds inventory through their warehouses based on their algorithms. So we're going to keep shipping them. We're going to -- we're #1 energy drink right now, roughly about a 20 share in the energy category. I don't really have much color than that, but continue to drive further revenues through that channel. It is an omnichannel world, and that's something we really focus here at Celsius. We want to deliver Celsius to consumers when they want it, how they want it.
是的。我的意思是,亞馬遜,我們本季度過了一段美好的時期。在運輸過程中也有很多時間安排,亞馬遜根據其演算法透過倉庫控製或提供庫存。因此我們將繼續運送它們。目前,我們是排名第一的能量飲料,在能量飲料類別中佔有約 20% 的份額。我實際上沒有太多的色彩,但會繼續透過該管道增加收入。這是一個全通路的世界,這也是我們 Celsius 真正關注的重點。我們希望在消費者需要的時候,以他們想要的方式為他們提供攝氏度。
Jarrod Langhans - CFO
Jarrod Langhans - CFO
I think it does show too, that there is still opportunity for continued growth within the Amazon channel. So it's not necessarily slowing down suddenly just because we got to a certain spot within that. So I do see that as a continued growth opportunity for us as we look out into 2024.
我認為這也確實顯示亞馬遜通路仍有持續成長的機會。因此,它不一定會因為我們到達了某個特定點而突然減慢速度。因此,我確實認為,展望 2024 年,這對我們而言是一個持續的成長機會。
Operator
Operator
Our next question comes from the line of Sean McGowan with ROTH Capital Partners.
我們的下一個問題來自 ROTH Capital Partners 的 Sean McGowan。
Sean Patrick McGowan - MD & Senior Research Analyst
Sean Patrick McGowan - MD & Senior Research Analyst
A couple of quickies here. On the sales and marketing, give some good color on what we expect in the first quarter. And I think that rate of 23% is a little higher than you had talked about for some periods in the past. Is that a good number to use for the full year of '24?
這裡有幾個簡短的例子。在銷售和行銷方面,我們對第一季的預期是樂觀的。我認為 23% 的成長率比您在過去某些時期談論的成長率要高一些。這個數字對於 24 年全年來說合適嗎?
Jarrod Langhans - CFO
Jarrod Langhans - CFO
I think I referred to Q1 and Q4 in my prepared remarks. And if you look at our Q1 activations and activity, we've got the Super Bowl activations we did that that we believe were very successful. We've actually got a Jake Paul fight this weekend down in Puerto Rico with another number of influencers that we support. We kicked off the MLS last week or a couple of weeks ago. We kicked off the F1 partnership. So we've got a number of things that are really rolling in Q1 to keep the momentum going.
我想我在準備好的發言中提到了問題 1 和問題 4。如果你看看我們第一季的活化和活動,你會發現我們開展的超級盃活化活動我們認為非常成功。事實上,本週末我們將與另外幾位我們支持的有影響力的人物在波多黎各舉行一場傑克·保羅 (Jake Paul) 比賽。我們在上週或幾週前啟動了 MLS。我們啟動了F1合作。因此,我們在第一季確實開展了多項工作以保持這一發展勢頭。
As we look at a full year basis, historically, we've been in the 22% to 24% range. We were at 20% on a year-to-date basis in 2023. I think those are kind of the data points to stick to. If we've got opportunity to invest ahead of growth, we're going to continue to invest it. We're going to spend our money wisely. John and I require an ROI on everything we do. So we're not going to spend foolishly. But if we see opportunity to push growth, we'll push growth, if we don't see it, we'll continue to lever.
從全年來看,從歷史上看,我們的成長率一直處於 22% 到 24% 的範圍內。以年初至今計算,2023 年我們的成長率為 20%。如果我們有機會在成長之前進行投資,我們就會繼續投資。我們會明智地花錢。約翰和我要求對所做的每件事進行投資回報。所以我們不會亂花錢。但如果我們看到推動成長的機會,我們就會推動成長,如果我們沒有看到,我們就會繼續利用槓桿。
Sean Patrick McGowan - MD & Senior Research Analyst
Sean Patrick McGowan - MD & Senior Research Analyst
Okay. And then on the Essentials line, could you give us, I mean, that's pretty rapid acceleration of ACV. Where do you think that goes? And basically, more generally, what is the plan for additional SKUs and additional outlets for that line. I'm seeing it in its own cooler or a separate cooler in some stores. Do you think this can double that? Can you get to a 80% plus ACV by the end of the year?
好的。然後在 Essentials 系列中,您能否為我們介紹一下,我的意思是,ACV 的加速度相當快。您認為這會帶來什麼結果?基本上,更一般地說,該生產線的額外 SKU 和額外銷售點的計劃是什麼。我在一些商店裡看到它放在自己的冷藏箱或單獨的冷藏箱中。您認為這可以使其翻倍嗎?到年底你能達到 80% 以上的 ACV 嗎?
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
That's -- well, we've never launched a new line with our new distribution partner, PepsiCo. So I think we have a lot to learn. We are working hard. We think it can definitely be incremental. There is a lot of opportunity in there. That 16-ounce Celsius Essentials has been really well recepted by consumers. What's great? It's not cannibalizing existing sales. So we are bringing in additional new consumers and converting new consumers into the Celsius portfolio. So that has us really excited. It's not -- we're not trading our existing consumers. So the initial data.
那是——好吧,我們從未與我們的新分銷合作夥伴百事可樂一起推出過新的產品線。所以我認為我們還有很多東西要學習。我們正在努力工作。我們認為它絕對可以是漸進的。這其中有很多機會。這款 16 盎司的 Celsius Essentials 確實受到了消費者的歡迎。有什麼好玩的?它不會蠶食現有的銷售。因此,我們正在引進更多的新消費者,並將新消費者轉化為 Celsius 產品組合。這讓我們非常興奮。事實並非如此——我們不會出賣我們現有的消費者。所以初始數據。
It's still early. When you look at it, you're only talking like 8 weeks, 12 weeks of data we have at best in certain stores. So we really need to get a little bit more data underneath our belts as we move into -- get through Q1 and most importantly, see what these resets bring that are coming out. So I think this summer, we'll have a better read on how this portfolio is going to perform the Celsius Essential line within our overall global portfolio.
現在還早。當你查看它時,你會發現我們在某些商店最多只擁有 8 週、12 週的數據。因此,在進入第一季時,我們確實需要獲得更多的數據,最重要的是,看看這些重置會帶來什麼結果。因此我認為今年夏天我們將更了解該投資組合將如何在我們的整體全球投資組合中執行 Celsius Essential 系列。
Jarrod Langhans - CFO
Jarrod Langhans - CFO
Yes. It's a great product. You should get out and taste it, if you haven't yet.
是的。這是一個很棒的產品。如果你還沒有嘗試過,你應該出去嘗試。
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
It tastes great.
味道好極了。
Sean Patrick McGowan - MD & Senior Research Analyst
Sean Patrick McGowan - MD & Senior Research Analyst
I have some in my office.
我的辦公室裡有一些。
Operator
Operator
Our next question comes from the line of Eric Serotta with Morgan Stanley.
我們的下一個問題來自摩根士丹利的 Eric Serotta。
Eric Adam Serotta - Equity Analyst
Eric Adam Serotta - Equity Analyst
Great. So could you give a little bit more granularity as to what drove the step-up in Pepsi revenue through the foodservice channel? I think it had been running at 10%, now it's at 12.5%. I think Jersey Mikes and Dunkin' are still very early days, and I'm not sure if those go through Pepsi, so maybe you could clarify that. But what specific channels are you seeing traction in, in foodservice through Pepsi?
偉大的。那麼,您能否更詳細說明一下百事可樂透過餐飲通路收入成長的因素是什麼?我認為它之前的運行速度是 10%,現在是 12.5%。我認為 Jersey Mikes 和 Dunkin' 仍處於早期階段,而且我不確定它們是否通過百事可樂,所以也許你可以澄清一下。但是,您看到百事可樂在餐飲服務領域的具體管道有哪些?
And then a broader question, in terms of the new SKUs that you're adding, particularly on the Vibes and the core flavors, what are you seeing in terms of incrementality there? How are the sort of legacy flavors and by legacy core and Vibes flavors performing as you're introducing these new SKUs? And then sort of what do you see as the limit for SKU count or flavor variety here, you're still a long way from Monster and Red Bull?
然後是一個更廣泛的問題,就您添加的新 SKU 而言,特別是 Vibes 和核心口味,您看到的增量是什麼?當您推出這些新 SKU 時,傳統口味、傳統核心和 Vibes 口味的表現如何?那麼您認為 SKU 數量或口味種類的極限是什麼,您與 Monster 和 Red Bull 還有很大差距嗎?
Jarrod Langhans - CFO
Jarrod Langhans - CFO
I'll start with the foodservice one. John can have the -- all the other ones. So foodservice, I look at that as just continued momentum. I mean, if you look at our club program, once we start launching with them, we've got good progress, good momentum, but then you really see the volumes and velocity is growing. We're seeing the same thing across foodservice. We also had the college program fully in place in Q4. So as we talked about last quarter over the summer season, it tends to die down a bit when the college campus is empty out.
我先從餐飲服務開始。約翰可以擁有--所有其他的。因此,我認為餐飲服務仍將維持持續發展動能。我的意思是,如果你看看我們的俱樂部計劃,一旦我們開始與他們一起啟動,我們就會取得良好的進展,良好的勢頭,但隨後你會看到數量和速度正在增長。我們在餐飲業也看到了同樣的情況。我們還在第四季度全面實施了大學計劃。因此,正如我們上個季度在夏季所討論的那樣,當大學校園空無一人時,這種情況往往會減弱。
We're also seeing great progress in the other channels within foodservice that we're in. You mentioned, Mikes, you mentioned Dunkin', there's also hospitals. There's a variety of other food establishments. And so we're just continuing to see ongoing momentum across that channel, and we're really seeing that grow and be built out. And our distributor has really been helping significantly with that. So continued momentum, and we're doing great there. But let me throw the other ones over to John.
我們也看到,我們所處的餐飲服務領域的其他管道也取得了巨大進步。還有各種各樣的其他餐飲店。因此,我們看到該管道持續保持良好的發展勢頭,也看到它真正地成長和發展。我們的經銷商確實在這方面提供了極大的幫助。因此,我們繼續保持這種勢頭,而且我們做得很好。但是,讓我把其他的問題交給約翰。
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
Yes. And just a further detail on that. I think we're also seeing great momentum. And you talked about the step up and Jarrod, you mentioned college universities as a big opportunity and seeing growth there. But also vending. Keep in mind, vending is also going through that foodservice and the vending, we've expanded in vending. We're seeing great results in vending.
是的。關於這一點還有進一步的詳細說明。我認為我們也看到了巨大的發展勢頭。您談到了進步,賈羅德,您提到大學是一個巨大的機會並且看到了它的成長。但也有自動販賣機。請記住,自動販賣機也正在經歷食品服務和自動售貨,我們已經擴大了自動販賣機業務。我們在自動販賣方面看到了巨大的成果。
And at-work micro markets, we talked about those prior on several calls prior. The at-work micro-market opportunity is really good. I mean you see a lot of opportunities at work locations. So you're seeing the product continuing to scale. And I agree with you, Eric. I think seeing that go from 10% to 12%, just shows you the growth opportunity we have on an overall basis in this nontracked channel opportunity.
關於工作中的微型市場,我們之前在幾次電話會議中討論過這些問題。工作場所微型市場機會確實很好。我的意思是,你會在工作地點看到很多機會。因此,您會看到產品規模不斷擴大。我同意你的看法,埃里克。我認為從 10% 成長到 12% 表明了我們在這個非追蹤管道機會中整體上擁有的成長機會。
Looking at new SKUs, the Vibe line, we're excited about the Vibe line, talk about the success we had, I mentioned on the comments on the call earlier that Cosmic Vibe, we launched at Circle K and really going intergalactic with the theme of Space -- the Space Odyssey with our 2 new Vibe flavors to have a Space team. We're really excited on rolling that out. We're going to have some events coming up at Coachella and a variety of neat things to -- that you, guys, will be able to see.
看看新的 SKU,Vibe 系列,我們對 Vibe 系列感到非常興奮,談論我們取得的成功,我在之前的電話會議評論中提到,我們在 Circle K 推出了 Cosmic Vibe,並真正以太空為主題進行星際旅行——太空漫遊,我們推出了 2 種新的 Vibe 口味,組建了一支太空團隊。我們非常高興能夠推出這項功能。我們將在科切拉音樂節舉辦一些活動以及各種精彩的東西——你們將能夠看到。
The Vibe line is going to be a totally separate line. We're going to scale and grow that. I think there's a lot of opportunities to bring out innovative flavors and experiences with every sip. And then our core flavors, the team continues to come out with great flavors. I mean, you look at core, even expanding the core into our no Fizz line as well, where there's Blue Raspberry Lemonade that we launched at 7-Eleven in Q1 has been phenomenal. I mean the product tastes great and really expands this non-Fizz or non-carb opportunity that could be in wholly another revenue stream and ultimately an extension of our portfolio as well.
Vibe 系列將成為完全獨立的系列。我們會擴大規模並發展它。我認為每次啜飲都有很多機會帶來創新的味道和體驗。然後是我們的核心口味,團隊繼續推出出色的口味。我的意思是,你看看核心,甚至將核心擴展到我們的無泡飲料系列,我們在第一季在 7-Eleven 推出的藍莓檸檬水就取得了驚人的成績。我的意思是,該產品味道很好,並且真正擴大了這種非起泡或非碳水化合物的機會,這可能成為另一個收入來源,並最終成為我們產品組合的延伸。
So we're monitoring the SKUs. Obviously, you need to do SKU rationalization. So that's something we talk internally at innovation meetings. We'll be doing that each year. We want to -- we'll cut our, as I call it, our tail or slow-moving SKUs. But we do see consumers looking for new innovation and staying within our portfolio, which is great. So our new Sparkling Peach, Raspberry Peach is phenomenal, great flavor. Eric, try it, please go out and try it. I think you'll enjoy as much as we do.
因此我們正在監控SKU。顯然,你需要進行SKU合理化。這是我們在創新會議上內部討論的事情。我們每年都會這樣做。我們希望——我們將削減我們所謂的尾巴或滯銷的 SKU。但我們確實看到消費者正在尋找新的創新並留在我們的產品組合中,這很好。所以我們的新品 Sparkling Peach、Raspberry Peach 非常棒,味道很棒。埃里克,試試看,請出去嘗試。我想您也會像我們一樣享受。
Operator
Operator
Our next question comes from the line of Jim Salera with Stephens.
我們的下一個問題來自史蒂芬斯的吉姆·薩萊拉。
James Ronald Salera - Analyst
James Ronald Salera - Analyst
I wanted to drill down a little bit on the coolers because I have been in Cleveland, Ohio, and I was very surprised to see a Celsius branded cooler very prominently displayed at the cash wrap of the local grocerier. And so can you just talk about kind of the channel strategy there? How you want to get those coolers placed? And then maybe as a part 2 to that question, just any color you can offer on incremental uplift, velocity, repeat rates, trial buys in locations that do have the branded fridges?
我想對冷藏箱進行一些深入的了解,因為我去過俄亥俄州的克利夫蘭,當我看到當地雜貨店的收銀台上非常顯眼地擺放著一個攝氏品牌的冷藏箱時,我感到非常驚訝。那麼您能談談那裡的渠道策略嗎?您想如何擺放這些冷卻器?然後也許作為該問題的第二部分,您可以提供有關增量提升、速度、重複率、在有品牌冰箱的地點試買的任何資訊嗎?
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
Yes. Jim, it's a big, big initiative we've had over the years trying to get more cooler placement. If you've been tracking the company over the years, we've been historically sold warm. So we had to build a loyal consumer that would actually have to take the product home and chill it and then drink of the daily lifestyle and routine. And that really shows to the loyalty around the Celsius consumer.
是的。吉姆,這是我們多年來一直致力於的一項重大舉措,旨在獲得更多更酷的展示位置。如果您多年來一直關注這家公司,您會發現我們一直以來都受到熱烈追捧。因此,我們必須培養一批忠誠的消費者,他們實際上會把產品帶回家,冷藏,然後在日常生活和日常生活習慣中飲用。這確實體現了 Celsius 消費者的忠誠度。
Cold availability is key to the success in order to compete in the energy category, especially with the impulse purchases. That is the biggest opportunity for us, and kind of mentioning it prior to the question, when we look at the convenience channel, that impulse purchase is key to the success of where we want to go and who we want to be in the category.
為了在能源領域競爭,冷量供應是成功的關鍵,尤其是在衝動性購買方面。這對我們來說是最大的機遇,在問題之前就提到了這一點,當我們研究便利管道時,衝動購買是我們想要去的地方以及我們想要成為該類別中的一員時成功的關鍵。
So we have -- we placed about 10,000 coolers. We are investing in more coolers. We're working on placing more coolers. We want to be right at checkout. Eye-level is critical. We're talking to a variety of retailers as well, to gain additional checkout coolers. So I think that's a big opportunity. Most recently down in South Florida, if you look at Publix, we've gained checkout coolers, and we're looking to gain additional checkout coolers on the next reset.
因此,我們放置了大約 10,000 個冷卻器。我們正在投資更多的冷卻器。我們正在努力安置更多的冷卻器。我們希望在結帳時能正確付款。視線的高度至關重要。我們也正在與各種零售商洽談,以獲得更多的結帳冷藏機。所以我認為這是一個很大的機會。最近在南佛羅裡達州,如果你看看 Publix,你會發現我們增加了結帳冷藏機,我們希望在下次重置時增加更多的結帳冷藏機。
So that's a big opportunity. We do see uplift. If you're by the register and you're cold, kind of the saying we say internally here, if it's cold, it's sold. So the other thing is stacking high and watch it fly. Some comments we make around displays. But definitely a lift, the exact lift is hard to say because each channel and each store in each region is quite different on the velocity levels, but there is a substantial lift.
所以這是一個很大的機會。我們確實看到了提升。如果你在收銀台旁邊,發現東西很冷,就像我們公司內部說的一句話,如果東西是冷的,就表示東西賣了。因此另一件事就是將其堆高並觀察它飛起來。我們對顯示器提出了一些評論。但肯定存在提升,具體的提升很難說,因為每個管道、每個地區每個商店的速度水平都有很大差異,但確實存在大幅提升。
James Ronald Salera - Analyst
James Ronald Salera - Analyst
Okay. Great. And maybe one follow-up on that. Are all of the actual use in the cooler consistent across the portfolio? Or do you guys make changes on that based on channel, local geography? Like could we see a Celsius lines in there? Or some of the other product innovations show up in the coolers?
好的。偉大的。也許對此還有一個後續行動。冷卻器的實際用途在整個產品組合中是否一致?或者你們會根據管道、當地地理位置做出改變嗎?我們能在那裡看到攝氏線嗎?或者其他一些產品創新也體現在冷卻器上?
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
Yes. That's a great question. So we do have planograms and progressions we work on based on the size of the cooler. There is a little bit of regional seasonality that based on a retailer, we do exclusive flavors. So like at Circle K, we did our Cosmic Vibe. I talked about 7-Eleven, the new launch with the Raspberry Lemonade so -- Fizz-Free.
是的。這是一個很好的問題。因此,我們確實有基於冷卻器尺寸的規劃圖和進度表。根據零售商的不同,我們會提供一些區域季節性的獨家風味。就像在 Circle K 一樣,我們也做了我們的 Cosmic Vibe。我談到了 7-Eleven,它新推出了覆盆子檸檬水,所以不含碳酸飲料。
So you will see potentially unique flavors and given coolers, but we do have a standard national planogram that's being followed, probably not always followed to the tea, but that is something we work on as an overall organization and work with our PepsiCo partners to keep the progressions in the coolers in accordance to our planogram.
因此,您將會看到潛在的獨特風味和特定的冷卻器,但我們確實有一個正在遵循的標準國家規劃圖,可能並不總是遵循茶,但這是我們作為一個整體組織所做的工作,並與百事可樂的合作夥伴合作,根據我們的規劃圖保持冷卻器的進展。
So the core should be have its own planogram, the Vibe should have a planogram and also our Fizz-Free line should have a planogram as well as our Celsius Essentials 16-ounce. So that's kind of how our go-to-market strategy.
因此,核心應該有自己的規劃圖,Vibe 應該有規劃圖,我們的 Fizz-Free 系列以及我們的 Celsius Essentials 16 盎司也應該有規劃圖。這就是我們的行銷策略。
Operator
Operator
That's all the time we have for questions. I'd like to hand it back to John Fieldly for closing remarks.
我們回答問題的時間就這麼多了。我想將其交還給約翰·菲爾德利,請他作最後發言。
John Fieldly - President, CEO & Chairman
John Fieldly - President, CEO & Chairman
Thank you, Doug, and thank you, everyone, for joining us today on our Celsius Holdings Fourth Quarter 2023 Earnings Call. I'd like to thank and close by thanking all of our employees. Your dedication to Celsius has helped to create the success we're enjoying today. And together, we'll continue to provide essential energy to more consumers so they can pursue their own live fit lifestyles with a cold Celsius in their hands. Celsius will be participating in several upcoming conferences details of which will be published on our Investor Relations corporate website. We look forward to seeing many of you there.
謝謝 Doug,也謝謝大家今天參加 Celsius Holdings 2023 年第四季財報電話會議。最後,我要感謝我們所有的員工。您對 Celsius 的奉獻幫助我們取得了今天的成功。我們將繼續共同為更多消費者提供必需的能量,讓他們能夠在冰冷的氣溫下追求自己健康的生活方式。 Celsius 將參加即將舉行的幾場會議,詳細資訊將在我們的投資者關係公司網站上公佈。我們期待在那裡見到你們。
Thank you for your interest in Celsius. Stay healthy and live fit.
感謝您對 Celsius 的關注。保持健康,強身健體。
Operator
Operator
Ladies and gentlemen, this does conclude today's teleconference. Thank you for your participation. You may disconnect your lines at this time, and have a wonderful day.
女士們、先生們,今天的電話會議到此結束。感謝您的參與。此時您可以斷開您的線路,並享受美好的一天。