Essity’s net sales decreased 1.2% in the second quarter of 2024 compared with the corresponding period a year ago and amounted to SEK 36.617 billion ($3.47 billion).
All categories in Consumer Goods and Health & Medical reported higher volumes and the underlying volume growth in Professional Hygiene was positive. Excluding restructuring in Professional Hygiene and exited contracts with insufficient profitability in Incontinence Products Health Care, volume growth was 2.9%. Professional Hygiene and Health & Medical contributed to a positive mix for the Group. Sales prices were lower, mainly related to price reductions in Consumer Tissue in 2023.
Organic growth in emerging markets, which accounted for 26% of net sales, was positive.
In the Health & Medical segment, net sales increased organically by 4.5%. Volume growth was high in both Medical Solutions and Incontinence Products Health Care. Excluding the effect of the earlier decision to exit contracts with insufficient profitability, volumes increased for Health & Medical by 4.4%. Prices also developed positively and the product mix was favorable. The organic growth was mainly attributable to Europe. Latin America and Asia also reported high organic growth.
Consumer Goods net sales decreased organically by 1.3%, primarily as a result of lower prices in Consumer Tissue. Volumes increased for all categories and in particular for Incontinence Products Retail. In Europe, organic growth declined, which was mainly related to Consumer Tissue. Conversely, Feminine Care and Incontinence Products Retail reported high organic growth, driven by volume. Growth was also positive for Baby Care. In Latin America, Incontinence Products Retail in particular continued to demonstrate favorable growth.
In Professional Hygiene, net sales decreased organically by 3.9%, primarily as a result of lower volumes due to restructuring in North America and Europe. Excluding the effect of this, volume growth was 1.4%, with high growth in premium products, which also supported a strongly positive mix development. Sales prices were stable. Growth was high in Latin America, driven by higher volumes and higher sales prices.
