Energizer 2014 Annual Report Download - page 43

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ENERGIZER HOLDINGS, INC.
(Dollars in millions, except per share data)
Net sales for the fiscal year ended September 30, 2014 increased 6.7%, inclusive of a 1.3% decline due to unfavorable currency
movements and a 9.4% increase due to the incremental impact from the feminine care brands acquisition. Excluding the impact
of currency movements and the incremental impact of the acquisition, organic sales declined $35.4, or 1.4%, due to:
• Wet Shave net sales declined approximately $28, or 1.7%, on a reported basis. Excluding the impact of unfavorable
currency movements, organic net sales decreased approximately $4, or 0.3%. The year-over-year organic net sales
change was primarily due to continued growth of Schick Hydro men's systems, Hydro Silk women's systems, and
Hydro Disposable razors. These gains were offset by lower sales of legacy branded men's and women's systems and
shave preparations;
• Skin Care net sales were down approximately $5, or 1.0%, on a reported basis. Excluding the impact of unfavorable
currency movements, organic net sales were essentially flat versus prior year;
• Infant Care net sales declined approximately $33, or 19.4%, on a reported basis due primarily to overall category
declines and increased competitive activity; and
• Feminine Care net sales increased approximately $227, or 128.4% on a reported basis due to the incremental impact of
the feminine care brands acquisition in October, 2013. Excluding the impact of unfavorable currency movements and
the incremental impact of acquisitions, organic net sales were down $2, or 0.9%, versus prior year.
Net sales for the fiscal year ended September 30, 2013 decreased 1.2%, inclusive of a 1.4% decline due to unfavorable currency
movements. Excluding the impact of currency movements, organic sales grew $4.1, or 0.2%, due to:
• Wet Shave net sales declined approximately $25, or 1.5%, on a reported basis. Excluding the impact of unfavorable
currency movements, organic sales increased approximately $8, or 0.5%. The year-over-year increase was primarily
due to continued growth of Schick Hydro men's systems, Hydro Silk women's systems, and the launch of Hydro
Disposable razors. These gains were partially offset by lower sales of legacy branded men's and women's systems and
shave preparations;
• Skin Care net sales were essentially flat on a reported and organic basis as sun care sales were negatively impacted by
cool and wet weather during much of the summer season in the U.S. This was offset by growth in international sun
care;
• Infant Care net sales declined approximately $11, or 6.2%, on both a reported and organic basis due primarily to
overall category declines and increased competitive activity; and
• Feminine Care net sales were essentially flat on a reported and organic basis as declines in Playtex Gentle Glide were
mostly offset by continued growth in Playtex Sport.
Segment Profit - Personal Care Products
For the years ended September 30,
2014 % Chg 2013 % Chg 2012
Segment profit - prior year $ 475.2 $ 470.7 $ 408.4
Operations 36.0 7.7 % 27.4 5.9 % 68.3
Impact of currency (24.5)(5.2)% (22.9) (4.9)% (6.0)
Incremental impact of acquisition 43.9 9.2 % ——% —
Segment profit - current year $ 530.6 11.7 % $ 475.2 1.0 % $ 470.7
Segment profit for fiscal 2014 was $530.6, up $55.4, or 11.7%, inclusive of the negative impact of currency movements and the
incremental impact of acquisitions. Excluding the impact of unfavorable currency movements and the incremental impact of
acquisitions, segment profit increased $36, or 7.7%, as improved margins and strong cost controls offset organic top-line
softness and increased A&P spending.
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