08.01.22
P&G reported fiscal year 2022 net sales are $80.2 billion, an increase of 5% versus the prior year. Excluding the impacts of foreign exchange, acquisitions and divestitures, organic sales increased 7%. The growth was broad-based driven by a 2% increase in organic volume, a 4% increase due to higher pricing and a 1% increase from positive mix.
“Fiscal year 2022 was another strong year,” said Jon Moeller, chairman of the board, president and CEO of P&G. “The P&G team’s execution of our integrated strategies delivered strong top-line growth, earnings growth, and significant cash return to shareowners in the face of severe cost and operational headwinds. As we look forward to fiscal 2023, we expect another year of significant headwinds. We remain committed to our integrated strategies of superiority, productivity, constructive disruption and an agile and accountable organization structure. They remain the right strategies to step forward into the near-term challenges we are facing and continue to deliver balanced growth and value creation.”
P&G Q4 Net Sales Increase 3%
The company reported fiscal year 2022 fourth quarter net sales of $19.5 billion, an increase of 3% versus the prior year. Excluding the impacts of foreign exchange, acquisitions and divestitures, organic sales increased 7%. The growth was driven by an 8% increase in pricing, partially offset by a 1% decrease in volume primarily due to pandemic-related lockdowns in Greater China and reduced operations in Russia. Mix was neutral to net sales growth for the quarter.
Beauty segment organic sales were unchanged versus year ago. Hair Care organic sales increased low single digits due to increased pricing, partially offset by volume declines due to pandemic-related lockdowns in Greater China and reduced operations in Russia. Skin and Personal Care organic sales decreased low single digits driven by negative mix due to decline of the super-premium SK-II brand (impacted by pandemic-related lockdowns in China), partially offset by increased pricing and volume growth from innovation.
Grooming segment organic sales increased 3% versus year ago. Shave Care organic sales increased mid-single digits due to increased pricing, partially offset by volume declines from pandemic-related lockdowns in Greater China. Appliances organic sales decreased high-single digits due primarily to market contraction versus a base period that benefited from pandemic-related consumption increases, partially offset by positive product mix.
Health care segment organic sales increased 9% for the quarter. Oral care organic sales increased high single digits due to increased net pricing and positive product mix, partially offset by lower volumes due to pandemic-related lockdowns in Greater China and market contraction in developed markets. Personal health care organic sales increased mid-teens. Growth was broad-based driven by positive mix from the disproportionate growth of respiratory products, increased net pricing and volume growth due to a stronger respiratory season versus year ago.
Fabric and home care segment organic sales increased 9% for the quarter. Fabric care organic sales increased double digits driven primarily by higher net pricing. Volume growth from innovation was offset primarily by declines due to reduced operations in Russia. Home Care organic sales increased low single digits due to increased pricing and positive product mix, partially offset by market contraction versus a base period that benefited from pandemic-related consumption increases.
Baby, feminine and family care segment organic sales increased 7% versus year ago. Baby Care organic sales increased mid-single digits due to increased pricing, partially offset by lower volumes due to reduced operations in Russia and competitive activity in developed markets. Feminine Care organic sales increased low teens with growth in all regions. The growth was driven primarily by increased net pricing and positive product mix, partially offset by lower volumes due to reduced operations in Russia. Family Care organic sales increased mid-single digits due to increased net pricing and volume growth from innovation and increased promotional activity.