Energizer 2013 Annual Report Download - page 20

Many European countries, as well as the European Union, have been very active in adopting and enforcing environmental
regulations. In addition, certain regulations have been enacted or are being considered in North America and certain European
and Latin American countries with respect to battery recycling programs. As such economies develop, it is possible that new
regulations may increase the risk and expense of doing business in such countries.
Certain of Energizer's products are subject to regulation under the Federal Food, Drug and Cosmetic Act and are regulated
by the U.S. Food and Drug Administration (“FDA”).
Available Information
Energizer regularly files periodic reports with the Securities and Exchange Commission (“SEC”), including annual reports
on Form 10-K and quarterly reports on Form 10-Q, as well as, from time to time, current reports on Form 8-K, and
amendments to those reports. The SEC maintains an Internet site containing these reports, and proxy and information
statements, at www.sec.gov. These filings are also available free of charge on Energizer's website, at www.energizer.com, as
soon as reasonably practicable after their electronic filing with the SEC. Information on Energizer's website does not constitute
part of this Form 10-K.
Other Matters
Additional descriptions of the business of Energizer in response to Item 1, and the summary of selected financial data
appearing under “ENERGIZER HOLDINGS, INC. - MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF
OPERATIONS AND FINANCIAL CONDITION” and appearing under “ENERGIZER HOLDINGS, INC. - NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS - Note 18 - Segment Information,” are included in Exhibit 13 attached hereto
and incorporated herein by reference. This information will also appear in the Energizer Holdings, Inc. 2013 Annual Report.
Item 1A. Risk Factors.
The following risks and uncertainties could materially adversely affect our business, results of operations, consolidated
financial condition and cash flows. Energizer may amend or supplement the risk factors described below from time to time in
other reports it files with the SEC.
Energizer faces risks associated with global economic conditions.
Unfavorable global economic conditions, increased unemployment levels and uncertainty about future economic prospects
could reduce consumer demand for our products as a result of a reduction in discretionary spending or a shift of purchasing
patterns to lower-cost options such as private label or price brands. Similarly, our retailer customers could reduce their
inventories, shift to different products or require us to lower our prices to remain on shelf. Declining financial performance by
certain of our retailer customers could impact their ability to pay us on a timely basis, or at all. These general risks remain
heightened as global economic conditions continue to deteriorate and the recovery in most developed markets remains sluggish.
Worsening economic conditions could harm our sales and profitability. Additionally, disruptions in financial markets could
reduce our access to debt and equity capital markets, negatively affecting our ability to implement our business plan and
strategy.
If Energizer cannot continue to develop new products in a timely manner, and at favorable margins, it may not be able to
compete effectively.
The battery and portable lighting products, wet shave, skin care, feminine care and infant care industries have been notable
for the pace of innovations in product life, product design and applied technology, and our success depends on future
innovations. The successful development and introduction of new products requires retail and consumer acceptance and
overcoming the reaction from competitors. New product introductions in categories where we have existing products will
likely also reduce the sales of our existing products. Our investments in research and development may not result in successful
products or innovation that will recover the costs of such investments. Our customers or end consumers may not purchase our
new products once introduced. Our competitors may introduce new or enhanced products that significantly outperform ours, or
develop manufacturing technology which permits them to manufacture at a lower cost relative to ours and sell at a lower price.
If we fail to develop and launch successful new products, or fail to reduce our cost structure to a competitive level, we may be
unable to grow our business and compete successfully.
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