Salute e Benessere
Essity: Interim Report, Quarter 3, 2024
Every day Essity cares for the hygiene and health of a billion people across 150 countries. Our solutions are needed regardless of the economic situation and we are working to constantly increase the value of customer and consumer offerings. Although the global economy remains challenging, we have higher volumes in all categories, excluding restructuring.
Growth was strong in Health & Medical, especially in Europe and Latin America . Our TENA Pants in Incontinence Products Health Care continued to drive both volume and higher margins and it is gratifying to see that the products are appreciated by both caregivers and patients. Growth was also particularly high in wound care products under our Leukoplast and Cutimed brands. We continued to gain market share in Consumer Goods, a result of our long-term work on innovation combined with investments in marketing. Growth was strong in Europe , but the development was also favorable in Latin America . In Professional Hygiene, growth was affected by restructuring, but underlying growth was strong, especially in the premium range.
All business areas contributed to the Group's good profitability. Earnings were positively impacted by the economies of scale we achieved through higher volumes and by a favorable product mix. We have also had good price discipline, despite lower costs of goods sold, and sales prices were higher compared with the second quarter of 2024. We continued to realize high cost savings through continuous efficiency improvements and have so far this year achieved more than SEK 1bn in savings. Combined, this led to a strong result for the quarter.
The operations generated strong cash flow during the quarter and net debt was further reduced. Our share buyback program is ongoing and by the end of the quarter, we had repurchased about 4 million of Essity's Class B shares.
With customers and consumers at the heart of our business, we will continue to win in the growing hygiene and health market through successful innovation, leading brands, sustainability and efficiency.
At the Capital Markets Day on December 3 in our production facility in Spain , we will provide deeper insights into the operations and how we are working toward our vision – to be the undisputed global leader in hygiene and health. I hope to see you there. Welcome!
Magnus Groth , President and CEO
President and CEO Magnus Groth and Executive Vice President and CFO Fredrik Rystedt will present the interim report at a live webcast and teleconference at 09:00 CET on October 24, 2024 .
Link to the live presentation, which can also be viewed afterwards:
https://essity.videosync.fi/2024-10-24-q3
Contact information for conference call with the possibility to ask questions:
UK: +44 (0) 33 0551 02 00
USA : +1 786 697 35 01
SWE: +46 (0) 8 505 204 24
Please call in well in advance of the start of the presentation. Indicate: "Essity".
Fredrik Rystedt , Executive Vice President and CFO, tel: +46 (0) 8 788 51 31
Sandra Åberg, Vice President Investor Relations, tel: +46 (0) 70 564 96 89
Per Lorentz , Vice President Corporate Communications, tel: +46 (0) 73 313 30 55
This information is such information that Essity Aktiebolag (publ) is obligated to make public pursuant to the EU Market Abuse Regulation. This report has been prepared in both Swedish and English versions. In case of variations in the content between the two versions, the Swedish version shall govern. The information was submitted for publication, through the agency of Karl Stoltz , Media Relations Director, at 07:00 CET on October 24, 2024 .
This interim report has not been reviewed by the company's auditors.
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https://news.cision.com/essity/r/interim-report--quarter-3--2024,c4055618
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