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Essity Reports 2021, Q4 Financial Results

Personal Care segment sales increase

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

Essity’s net sales for the full year 2021 increased 0.1% compared with the corresponding period a year ago to SEK 121.9 billion ($13.1 billion). Sales growth, including organic sales growth and acquisitions, amounted to 4.5%. Organic sales growth, which excludes exchange rate effects, acquisitions and divestments, amounted to 3.3%, of which volume accounted for 1.8% and price/mix for 1.5%. All business areas reported organic sales growth. Sales were negatively impacted by the Covid-19 pandemic and the related lockdowns and restrictions, primarily within Professional Hygiene. Organic sales growth in mature markets amounted to 0.0% and in emerging markets to 8.8%. Emerging markets accounted for 38% of net sales. Exchange rate effects reduced net sales by 3.6%. The acquisition of Asaleo Care increased net sales by 1.2%. Divestments and deconsolidation reduced net sales by 0.8%. Organic sales growth amounted to 1.3% compared with 2019.

In the Personal Care segment, 2021 net sales increased 1.2% to SEK 46.6 billion ($5 billion). The organic sales growth amounted to 5%, of which volume accounted for 2.7% and price/mix for 2.3%. Organic sales growth amounted to 2.8% in mature markets. In emerging markets, which accounted for 35% of net sales, organic sales growth amounted to 9%. Exchange rate effects reduced net sales by 4.2%. The acquisition of Asaleo Care increased net sales by 1.4%. Divestments reduced net sales by 1%.

For Incontinence Products, organic sales growth amounted to 3.5%. In Medical Solutions, organic sales growth amounted to 10.8%. For Baby Care, organic sales growth amounted to -0.6%. For Feminine Care, organic sales growth amounted to 10%.

In the fourth quarter of 2021, net sales increased 10.6% compared with the corresponding period a year ago to SEK 34.2 billion ($3.7 billion). Sales growth, including organic sales growth and acquisitions, amounted to 10.3%. Organic sales growth, which excludes exchange rate effects, acquisitions and divestments, amounted to 8%, of which volume accounted for 3.4% and price/mix for 4.6%. All business areas reported strong organic sales growth. Organic sales growth amounted to 6.5% in mature markets and 10.4% in emerging markets. Emerging markets accounted for 39% of net sales. Exchange rate effects increased net sales by 1%. The acquisition of Asaleo Care increased net sales by 2.3%. Divestments and deconsolidation reduced net sales by 0.7%. Organic sales growth amounted to 7.5% compared with the fourth quarter of 2019.

In Q4, Personal Care net sales increased 8.1% to SEK 12.6 billion ($1.4 billion). Organic sales growth amounted to 6.5%, of which volume accounted for 2.6% and price/mix for 3.9%. Organic sales growth in mature markets amounted to 4%. In emerging markets, which accounted for 35% of net sales, organic sales growth amounted to 11.2%. Exchange rate effects increased net sales by 0.1%. The acquisition of Asaleo Care increased net sales by 2.3%. Divestments reduced net sales by 0.8%.

For Incontinence Products, organic sales growth amounted to 6.3%. The increase was attributable to Europe, North America and emerging markets. In Medical Solutions, organic sales growth amounted to 7.1% and all product categories demonstrated good sales growth. For Baby Care, organic sales growth amounted to – 1.3%. The decrease was primarily related to Asia. Sales increased in Latin America and Europe. For Feminine Care, organic sales growth was 15.3% related to Europe, Latin America and Asia.

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