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December 19, 2023
Essity reports Vinda as discontinued operations as of Q4 2023 and publishes updated comparable figures
As announced on December 15, 2023, Essity will, as of the fourth quarter of 2023, classify the financial reporting of Vinda as discontinued operations. Today, Essity is publishing updated comparable figures to reflect this change in accounting.
EARNINGS TREND
|
SEKm |
2023:3 |
2023:2 |
2023:1 |
2022:4 |
2212 |
2112 |
|
Net sales |
37,092 |
37,078 |
36,352 |
36,629 |
131,320 |
101,466 |
|
Gross profit |
10,683 |
10,454 |
10,359 |
9,935 |
32,026 |
29,144 |
|
Adjusted gross profit1 |
11,670 |
10,809 |
10,321 |
10,237 |
33,925 |
29,290 |
|
Adjusted operating profit before amortization of acquisition- related intangible assets (EBITA)1 |
5,147 |
4,617 |
4,281 |
4,112 |
12,047 |
11,451 |
|
Operating profit before amortization of acquisition-related intangible assets (EBITA) |
3,497 |
4,131 |
4,368 |
3,818 |
9,876 |
11,822 |
|
Amortization of acquisition-related intangible assets |
-277 |
-279 |
-283 |
-288 |
-1,111 |
-844 |
|
Adjusted operating profit1 |
4,870 |
4,338 |
3,998 |
3,824 |
10,936 |
10,607 |
|
Items affecting comparability |
-1,967 |
-519 |
87 |
-305 |
-2,445 |
371 |
|
Operating profit |
2,903 |
3,819 |
4,085 |
3,519 |
8,491 |
10,978 |
|
Financial items |
-644 |
-588 |
-625 |
-561 |
-1,320 |
-567 |
|
Profit before tax |
2,259 |
3,231 |
3,460 |
2,958 |
7,171 |
10,411 |
|
Adjusted profit before tax1 |
4,226 |
3,750 |
3,373 |
3,263 |
9,616 |
10,040 |
|
Income taxes |
-696 |
-786 |
-809 |
-736 |
-2,006 |
-2,398 |
|
Profit for the period from continuing operations |
1,563 |
2,445 |
2,651 |
2,222 |
5,165 |
8,013 |
|
Profit for the period from discontinued operations |
88 |
106 |
52 |
24 |
899 |
1,797 |
|
Profit for the period, total operations |
1,651 |
2,551 |
2,703 |
2,246 |
6,064 |
9,810 |
|
Earnings per share before and after dilution, continuing operation, SEK |
2.20 |
3.46 |
3.75 |
3.14 |
7.28 |
10.96 |
|
Adjusted earnings per share before and after dilution, continuing operation, SEK2 |
4.83 |
4.26 |
3.93 |
3.75 |
11.60 |
11.18 |
|
Earnings per share before and after dilution, total operations, SEK |
2.26 |
3.53 |
3.79 |
3.15 |
7.93 |
12.27 |
|
1Excluding items affecting comparability. |
|
|
|
|
|
|
|
2Excluding items affecting comparability and amortization of acquisition-related intangible assets. |
|
|
||||
NET SALES BY BUSINESS AREA
|
SEKm |
2023:3 |
2023:2 |
2023:1 |
2022:4 |
2212 |
2112 |
|
Health & Medical |
7,158 |
6,905 |
6,665 |
6,589 |
24,708 |
21,255 |
|
Consumer Goods |
19,729 |
20,056 |
20,257 |
20,454 |
72,241 |
55,821 |
|
Professional Hygiene |
10,184 |
10,123 |
9,422 |
9,617 |
34,393 |
24,392 |
|
Other |
21 |
-6 |
8 |
-31 |
-22 |
-2 |
|
Total |
37,092 |
37,078 |
36,352 |
36,629 |
131,320 |
101,466 |
ORGANIC SALES GROWTH BY BUSINESS AREA
|
(%) |
2023:3 |
2023:2 |
2023:1 |
2022:4 |
2212 |
2112 |
|
Health & Medical |
5.8 |
8.0 |
10.6 |
4.5 |
7.2 |
5.5 |
|
Consumer Goods |
-0.4 |
5.7 |
14.8 |
18.4 |
17.6 |
0.2 |
|
Professional Hygiene |
5.7 |
11.7 |
22.6 |
20.7 |
25.4 |
5.8 |
|
Total |
2.4 |
7.7 |
15.9 |
16.0 |
17.3 |
2.6 |
SALES GROWTH, INCLUDING ORGANIC SALES GROWTH AND
ACQUISITIONS BY BUSINESS AREA
|
(%) |
2023:3 |
2023:2 |
2023:1 |
2022:4 |
2212 |
2112 |
|
Health & Medical |
5.8 |
8.0 |
10.6 |
6.4 |
9.6 |
6.6 |
|
Consumer Goods |
1.1 |
8.7 |
17.2 |
21.1 |
20.0 |
1.6 |
|
Professional Hygiene |
5.7 |
11.7 |
22.9 |
21.3 |
27.7 |
7.7 |
|
Total |
3.3 |
9.3 |
17.4 |
18.0 |
19.7 |
4.0 |
|
|
|
|
|
|
|
|
ADJUSTED EBITA BY BUSINESS AREA
|
SEKm |
2023:3 |
2023:2 |
2023:1 |
2022:4 |
2212 |
2112 |
|
Health & Medical |
1,188 |
947 |
777 |
719 |
2,904 |
3,800 |
|
Consumer Goods |
2,395 |
2,417 |
2,400 |
2,293 |
6,354 |
5,767 |
|
Professional Hygiene |
1,887 |
1,582 |
1,288 |
1,405 |
3,843 |
2,673 |
|
Other |
-323 |
-329 |
-184 |
-305 |
-1,054 |
-789 |
|
Total |
5,147 |
4,617 |
4,281 |
4,112 |
12,047 |
11,451 |
ADJUSTED OPERATING PROFIT BY BUSINESS AREA
|
SEKm |
2023:3 |
2023:2 |
2023:1 |
2022:4 |
2212 |
2112 |
|
Health & Medical |
979 |
737 |
560 |
499 |
2,058 |
3,082 |
|
Consumer Goods |
2,332 |
2,356 |
2,338 |
2,231 |
6,109 |
5,650 |
|
Professional Hygiene |
1,881 |
1,577 |
1,282 |
1,400 |
3,823 |
2,663 |
|
Other |
-322 |
-332 |
-182 |
-306 |
-1,054 |
-788 |
|
Total adjusted operating profit1 |
4,870 |
4,338 |
3,998 |
3,824 |
10,936 |
10,607 |
|
Financial items |
-644 |
-588 |
-625 |
-561 |
-1,320 |
-567 |
|
Profit before tax1 |
4,226 |
3,750 |
3,373 |
3,263 |
9,616 |
10,040 |
|
Income taxes |
-995 |
-941 |
-803 |
-815 |
-2,206 |
-2,474 |
|
Net profit for the period2 |
3,231 |
2,809 |
2,570 |
2,448 |
7,410 |
7,566 |
|
|
|
|
|
|
|
|
|
1Excluding items affecting comparability before tax amounting to: |
-1,967 |
-519 |
87 |
-305 |
-2,445 |
371 |
|
2Excluding items affecting comparability after tax amounting to: |
-1,668 |
-364 |
81 |
-226 |
-2,245 |
447 |
ADJUSTED EBITA MARGIN BY BUSINESS AREA
|
(%) |
2023:3 |
2023:2 |
2023:1 |
2022:4 |
2212 |
2112 |
|
Health & Medical |
16.6 |
13.7 |
11.7 |
10.9 |
11.8 |
17.9 |
|
Consumer Goods |
12.1 |
12.1 |
11.8 |
11.2 |
8.8 |
10.3 |
|
Professional Hygiene |
18.5 |
15.6 |
13.7 |
14.6 |
11.2 |
11.0 |
|
Total |
13.9 |
12.5 |
11.8 |
11.2 |
9.2 |
11.3 |
ADJUSTED GROSS MARGIN BY BUSINESS AREA
|
(%) |
2023:3 |
2023:2 |
2023:1 |
2022:4 |
2212 |
2112 |
|
Health & Medical |
42.0 |
39.0 |
37.8 |
36.3 |
37.4 |
42.7 |
|
Consumer Goods |
28.3 |
26.3 |
26.3 |
25.7 |
23.0 |
25.7 |
|
Professional Hygiene |
30.2 |
28.1 |
26.3 |
26.8 |
23.4 |
24.0 |
|
Total |
31.5 |
29.2 |
28.4 |
27.9 |
25.8 |
28.9 |
ADJUSTED RETURN ON CAPITAL EMPLOYED BY BUSINESS AREA
|
(%) |
2023:3 |
2023:2 |
2023:1 |
2022:4 |
2212 |
2112 |
|
Health & Medical |
13.3 |
10.7 |
9.1 |
8.3 |
8.7 |
12.8 |
|
Consumer Goods |
17.2 |
17.6 |
18.2 |
16.7 |
12.8 |
14.2 |
|
Professional Hygiene |
28.0 |
22.7 |
18.6 |
19.3 |
14.0 |
11.7 |
|
Total |
17.2 |
15.8 |
15.2 |
13.9 |
10.9 |
12.4 |
OPERATING CASH FLOW BY BUSINESS AREA
|
SEKm |
2023:3 |
2023:2 |
2023:1 |
2022:4 |
2212 |
2112 |
|
Health & Medical |
1,676 |
323 |
270 |
818 |
2,396 |
3,834 |
|
Consumer Goods |
2,235 |
1,732 |
1,760 |
1,043 |
3,567 |
5,152 |
|
Professional Hygiene |
2,370 |
1,782 |
951 |
1,344 |
3,219 |
2,311 |
|
Other |
-227 |
-990 |
-111 |
-585 |
-1,503 |
-1,552 |
|
Total |
6,054 |
2,847 |
2,870 |
2,620 |
7,679 |
9,745 |
NET SALES BY CATEGORY
|
(%) |
2212 |
|
Health & Medical |
19 |
|
of which |
|
|
Incontinence Products Health Care |
11 |
|
Medical Solutions |
8 |
|
Consumer Goods |
55 |
|
of which |
|
|
Incontinence Products Retail |
7 |
|
Feminine Care |
8 |
|
Baby Care |
5 |
|
Consumer Tissue |
35 |
|
Professional Hygiene |
26 |
NET SALES PER REGION
|
(%) |
2212 |
|
Europe |
62 |
|
Latin America |
16 |
|
North America |
16 |
|
Asia |
2 |
|
Other |
4 |