In the second quarter of 2022, Essity’s net sales increased by 30.9% to SEK 37.9 billion (US$ 3.7 billion). The increase in sales, including organic growth in sales and acquisitions, was 20.6%. Organic sales growth, which excludes exchange rate effects, acquisitions and divestments, amounted to 17.8%, of which volume accounted for 3.7% and price/mix for 14.1%.
Organic sales growth in mature markets was 19.2% and in emerging markets – which accounted for 38% of net sales – was 16%. Exchange rate effects increased net sales by 10.4%, while acquisitions increased net sales by 2.8%.
“In a turbulent world, Essity stands strong. We have further strengthened the company through significant price increases, successful product launches, increased productivity and leading sustainability work,” said Magnus Growth, Essity’s President and CEO. “In July, we announced the acquisition of two companies in leakproof apparel to become the fastest growing company in Intimate Hygiene.”
In the consumer goods segment, net sales for the second quarter increased by 30.7% to SEK 22.97 billion (US$ 2.2 billion). Sales growth, including organic sales growth and acquisitions, was 20%. Organic sales growth amounted to 17.9%, of which volume accounted for 1.3% and price/mix for 16.6%.
In Retail Incontinence Products, organic sales growth was 12.5%, in Feminine Care 17.7% and in Baby Care 2.1%. For these three categories, prices were higher and volumes higher in Incontinence Products Retail and Feminine Care. The discontinuation of baby diaper operations in Latin America had a negative impact on Baby Care’s growth.
In Consumer Tissue, organic sales growth amounted to 21.6% and, in the Consumer Tissue Private Label Europe division, there was an increase of 31.7%. The sales growth was mainly the result of price increases and higher volumes. For Incontinence Products Health Care, organic sales growth amounted to 7.5%, driven by higher volumes and prices.