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Swedish firm Essity's net sales rise 25.1% to SEK 42,926 mn in Q1 FY23

02 May '23
2 min read
Pic: Essity
Pic: Essity

Insights

  • Essity, a global hygiene and health company, reported a net sales increase of 25.1 per cent to SEK 42,926 million ($4,936 million) in Q1 FY23.
  • The sales growth was driven by an 18.6 per cent increase in price-mix and 1.2 per cent from acquisitions.
  • Adjusted EBITA also increased to SEK 4,358 million, resulting in an adjusted EBITA margin of 10.2 per cent.
Sweden-based Essity, a leading global hygiene and health company, has reported a net sales increase of 25.1 per cent to Swedish krona (SEK) 42,926 million (approximately $4,936 million) in the first quarter (Q1) of fiscal 2023 (FY23), compared to SEK 34,301 million in the same period last year.

Essity's sales growth, which includes organic sales growth and acquisitions, amounted to 17.2 per cent year-on-year (YoY). This growth was driven by an 18.6 per cent increase in price-mix, 1.2 per cent from acquisitions, and a 2.6 per cent decrease in volume. The company's operating profit before amortisation of acquisition-related intangible assets (EBITA) rose to SEK 4,445 million from SEK 1,663 million in Q1 FY22. Adjusted EBITA also increased to SEK 4,358 million, resulting in an adjusted EBITA margin of 10.2 per cent, up from 8.2 per cent in the same period last year.

The company's profit for Q1 FY23 increased to SEK 2,703 million, compared to SEK 521 million in the same period last year. Essity's earnings per share increased to SEK 3.79 from SEK 0.44, and adjusted earnings per share increased to SEK 3.97 from SEK 2.72 in Q1 FY22, Essity said in a press release.

Also, Essity announced several important steps towards achieving net-zero emissions. The company became the first to produce tissue in a CO2-free production process using renewable hydrogen and to produce high-quality tissue from agricultural waste.

Fibre2Fashion News Desk (DP)

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