STOCKHOLM - Health and hygiene company Essity has reported a 28% increase in sales for its fourth quarter, boosted by both organic sales growth and acquisitions.

Total sales for the quarter were SEK 43,834 million up from SEK 34,226 million in the same period last year with profit for the period of SEK 2,246 million, up slightly from SEK 2,218 million.

For the full year, net sales increased 28.2% to a record SEK 156,173 million, up from SEK 121,867 million with growth, including organic sales growth and acquisitions, amounting to 17.7%, of which volume accounted for 1.7%, price/mix for 14.0% and acquisitions for 2.0%.

Welcoming the results, Magnus Groth, president and CEO said that sales growth was strong in all three business areas: Health & Medical, Consumer Goods and Professional Hygiene. “In 2022, Essity achieved record growth and its highest net sales ever," he said. "We can see that, despite significant cost inflation, we achieved an operating profit, before depreciation, amortization and impairment, that was in line with 2021. We implemented significant price increases, while volumes were higher for the year.”

Over the course of the year, Essity acquired three companies in line with its strategy to grow in segments with strong future growth. The acquisition of the US company Legacy Converting Inc. is expected to broaden Essity’s offering in Professional Hygiene through a stronger position in wiping and cleaning products in the North American market while two leading companies were acquired in the Intimate Hygiene sector: Knix Wear Inc. and Modibodi.

With these deals, Essity says it is now a global market leader in leakproof apparel, which is the fastest growing product segment in Intimate Hygiene.