- Net sales increased 24.6% to
SEK 34,301m (27,528) - Sales growth, including organic sales growth and acquisitions, amounted to 17.3%. Organic sales growth was 14.6%, of which volume accounted for 7.2% and price/mix for 7.4%.
- Price increases were implemented and further increases will be carried out in 2022
-
Acquisition of US-based cleaning and wiping company
Legacy Converting, Inc. - The company's assets in
Russia have been impaired by approximatelySEK 1.4bn . Furthermore, work has been initiated to exit the Russian market. -
Operating profit before amortization of acquisition-related intangible assets (EBITA) decreased 55% to
SEK 1,663m (3,664) -
Adjusted EBITA amounted to
SEK 2,826m (3,608) and the adjusted EBITA margin amounted to 8.2% (13.1). Higher costs for raw materials, energy and distribution had a negative impact of 12.1 percentage points on the margin. The margin was positively impacted by higher volumes, higher selling prices, a better mix and cost savings. - Adjusted return on capital employed amounted to 9.0% (13.5)
-
Profit for the period was
SEK 521m (2,552) -
Earnings per share were
SEK 0.44 (3.04) and adjusted earnings per share wereSEK 2.72 (3.14) -
Cash flow from current operations increased to
SEK 1,070m (695)
CEO'S COMMENTS
Higher sales, price increases and acquisition
During the first quarter of 2022, net sales increased 24.6% to approximately
Organic sales growth amounted to 14.6%, of which volume accounted for 7.2% and the price/mix for 7.4%. All business areas demonstrated high organic sales growth. Many countries have eased COVID-19 restrictions, which has rapidly led to increased demand for our leading hygiene and health solutions.
We have implemented significant price increases and further increases will be carried out in coming quarters. In addition, we have negotiated price increases with customers in
We continued to invest in innovation and increased customer and consumer value, which resulted in our market shares increasing for 55% of our branded sales in the retail trade over the past 12 months despite significant price increases. The positive trend also continued for e-commerce sales, with organic sales growth of 12.6%.
E-commerce sales amounted to approximately
Adjusted EBITA amounted to
Our work to strengthen the company through innovation, leading brands and efficiency improvements is continuing. In the short term, however, our highest priority is to continue implementing significant price increases to improve profitability.
President and CEO
FUTURE REPORTS
In 2022, interim reports will be published on
INVITATION TO PRESENTATION OF THE INTERIM REPORT FOR QUARTER 1, 2022
In conjunction with publication, a telephone and web presentation will be held where President and CEO
Presentation
Date:
Time: 09:00, CET
Link to web presentation: https://essity.videosync.fi/2022-04-22
To participate by telephone, call: +44 333 300 08 04, +1 631 913 14 22 or +46 8 566 426 51. State pin code 70624732#.
Please call well in advance of the start of the presentation.
The presentation can also be followed on LinkedIn and Twitter.
President and CEO
For further information, please contact:
Joséphine Edwall Björklund, Senior Vice President, Group
Per Lorentz, Vice President Corporate Communications, Group
NB:
This report has not been reviewed by the company's auditors.
This information is such information that
https://news.cision.com/essity/r/interim-report-quarter-1-2022,c3550667
https://mb.cision.com/Main/15798/3550667/1567303.pdf
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