USA: Kimberly-Clark reports 2014 results
Kimberly-Clark, which is active in markets including household paper and baby care, has reported stable revenues for the 2014 calendar year.
Sales of $19.7 billion were 1% higher than 2013 and organic sales rose 4%. Operating profit was down to $2,521 million in 2014 from $2,903 million in 2013, although adjusted operating profit increased 5% to $3,184 million. Adjusted operating profit comparisons benefited from organic sales growth, FORCE cost savings of $320 million and $30 million of savings from pulp and tissue restructuring actions, the company said
Commenting on the results, Kimberly-Clark Chairman and Chief Executive Officer Thomas J. Falk said: "In 2014, we met our top- and bottom-line growth commitments and made strategic changes to further improve our company. We delivered mid-single digit growth in organic sales and adjusted earnings per share from continuing operations. We generated $320 million in FORCE cost savings and returned $3.3 billion to shareholders through dividends and share repurchases. In addition, we spun off our health care business, initiated an organization restructuring and completed our European strategic changes. I'm encouraged with our execution in a challenging environment".
"Although the environment has become much more volatile recently, we will continue to execute our Global Business Plan strategies and focus on the fundamentals that create shareholder value", he added. "In 2015, we will leverage our brands, growth initiatives, innovations and marketing investments to drive organic top-line growth".