Energizer 2015 Annual Report Download - page 38

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(including exits and shift to distributors). Excluding the impact of these items, organic sales decreased $65.4, or 3.6%.
Segment sales results for the twelve months ended September 30, 2015 are as follows:
• North America net sales declined 8.6% versus the prior fiscal year, inclusive of a 0.9% decline due to
unfavorable currency movements. Excluding the impact of currency movements, organic net sales declined
7.7%. This decline was due primarily to the timing of holiday and promotional shipments and temporary prior
year shelf gains that were not repeated in the current fiscal year partially offset by increased shipments related
to the EcoAdvanced new product launch during the second fiscal quarter.
• Latin America net sales declined 22.8% versus the prior fiscal year, inclusive of a 9.7% decline due to
unfavorable currency movements. The deconsolidation of Venezuela accounted for a 10.7% year-over-year
decline while the go-to-market impacts had a negative impact of 2.7%. Excluding the impacts of currency
movements, Venezuela and the go-to-market changes, organic net sales increased 0.3% as pricing gains across
several markets were partially offset by volume declines due to the timing of holiday shipments and continued
category declines.
• EMEA net sales declined 11.6% versus the prior fiscal year, inclusive of a 14.2% decline due to unfavorable
currency movements. The go-to-market impacts associated with market exits and distributors positively contributed
to net sales by 0.3% due to pipeline fills associated with distributor changes. Excluding the impacts of currency
movements and go-to-market changes, organic net sales improved 2.3% due to volume increases associated with
new distribution, the continued roll out of EcoAdvanced and increased space gains in Western Europe.
• Asia Pacific net sales declined 12.9% versus the prior fiscal year, inclusive of a 7.5% decline due to unfavorable
currency movements and a 3.8% decline associated with the go-to-market changes. Excluding the impacts of
currency movements and go-to-market changes, organic net sales decreased 1.6% due to phasing of shipments and
heightened competitive pressures in two of our major markets, Australia and Korea.
Net sales for the twelve months ended September 30, 2014 decreased 8.5%, inclusive of a 1.7% decline due to
unfavorable currency movements. Excluding the impact of currency movements, organic sales declined 6.8%. Segment sales
results for the twelve months ended September 30, 2014 are as follows:
• North America net sales declined 12.7% versus the prior fiscal year, inclusive of a 0.5% decline due to unfavorable
impact of currency movements. Excluding the impact of currency movements, organic net sales declined 12.2% due
primarily to the loss of distribution within two U.S. retail customers (which occurred in the fourth fiscal quarter of
fiscal 2013), continued household battery category declines and hurricane response storm volumes that occurred in
fiscal 2013 but did not repeat in fiscal 2014.
• Latin America net sales declined 10.9% versus the prior fiscal year, inclusive of a 10.1% decline due to unfavorable
currency movements. Excluding the impact of currency movements, organic net sales declined 0.8% as pricing gains
across several markets were offset by volume declines due primarily to inventory import restrictions in Argentina and
Venezuela.
• EMEA net sales declined 1.0% versus the prior fiscal year, inclusive of a 0.3% benefit due to favorable impacts of
currency movements. Excluding the impact of currency movements, organic net sales declined 1.3% due to continued
household battery category declines.
• Asia Pacific net sales declined 4.1% versus the prior fiscal year, inclusive of a 3.4% decline due to unfavorable
impacts of currency movements. Excluding the impact of currency movements, organic net sales declined 0.7% due to
continued household battery category declines and increased competitive pressures.