Energizer 2011 Annual Report Download - page 7

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2011 Financial Results
Our scal 2011 results were as expected. Revenues increased 9.4 percent to
$4.6 billion. In addition to the revenue contributions from Hydro® and ASR, the
drivers of top-line growth included favorable currencies along with strong results
in disposable razors and our two sun care brands. Our international businesses,
which operate in more than 160 countries, continue to be strong contributors,
representing 50 percent of revenues.
Reecting the impact of our Year of Investment, earnings per diluted
share decreased 35 percent to $3.72. On an adjusted basis, non-GAAP diluted
earnings per share were down 7 percent to $5.20.*
Leading Businesses Built on Strong Brands
Our businesses share important strengths: well-known and respected
brands with global reach, and strong international manufacturing and sales
organizations.
Personal Care Including the contributions of Hydro and ASR, 2011 sales for
our Personal Care segment increased 19.6 percent to $2.4 billion, and segment
prot increased 11.4 percent to $408 million.
In Wet Shave, we achieved solid gains from our disposable razors under
both the Schick® and Wilkinson Sword® brands. We have continued to launch
and support line extensions for both men’s and women’s disposable products, and
ASR strengthened our presence in the growing value segment.
Our Edge® and Skintimate® shave preparation brands continue to grow in
the U.S. We see additional opportunities for shave prep growth internationally as
we continue to introduce the Hydro shave system in new markets.
With a greater awareness of sun damage and aging populations driving
ve-year category growth of approximately 6 percent in the United States and
9 percent globally, skin care is an increasingly important source of growth for us.
Our two leading sun care brands, Banana Boat® and Hawaiian Tropic®, combined,
lead the U.S. sun care market. Internationally, our sun care brands have grown in
the range of 15 to 20 percent per year since we acquired them in 2007.
Household Products In scal 2011, Household Products revenues were
essentially at at $2.2 billion, and segment prot declined 9 percent to
$411 million, due to continued category softness, increased retailer trade spending
and higher commodity costs.
Battery sales continue to be pressured by an ongoing decline in devices
powered by replaceable rather than built-in rechargeable batteries. Recent
studies have indicated that an increasing number of devices are using built-in
rechargeable battery systems, particularly in developed markets. We believe this
continues to create a negative impact on the demand for primary batteries.
Our ability to maintain our global market share leadership position in this
challenging environment is a reection of the strength of our Eveready®
and Energizer® brands, and the staying power – after 23 years – of the iconic
Energizer Bunny®.
ENERGIZER HOLDINGS, INC. 2011 ANNUAL REPORT 5
INFANT CARE
e Diaper Genie® brand
continues to be the U.S. market
leader in diaper pails.
SUN CARE
Our two sun care brands,
Banana Boat® and Hawaiian
Tropic®, combined, lead the
U.S. sun care market.
EVERYDAY USE BATTERIES
Energizer® Max® batteries, our
agship alkaline brand, deliver
dependable, long-lasting power for
the devices consumers use daily.
*See reconciliation in Financial Results section of Management Discussion and Analysis.
References to market shares represent U.S. dollar
share for 52 weeks as reported by Nielsen FDMx.