Adapted from a press release:
Net sales for Colgate Palmolive’s pet segment, essentially Hill’s Pet Nutrition, reached US$3.311 million last year. In 2020, Colgate’s pet segment net sales stood at US$2.883 million. Pet segment operating profits grew to US$901 million in 2021 from US$793 million in 2020.
Company-wide sales for Colgate Palmolive finished at US$17.421 million in 2021, compared to US$16.471 million in 2019, a 6% change.
For the final three months of last year, Hill’s Pet Nutrition accounted for 12% of overall increased sales for Colgate Palmolive. That percentage climbed to 15% of positive sales change for the whole of 2021.
In 2021, Hill’s Pet Nutrition made up 20% of overall Colgate Palmolive sales worldwide. In particular, Hill’s sales fueled organic growth in the United States and Europe. The increase in operating profit as a percentage of net sales was primarily due to higher pricing, cost savings from decreased advertising investment, lower overhead expenses despite increased logistics costs and other factors. Significantly higher raw material and packaging costs dragged on growth.
“We were pleased to finish 2021 with a continuation of our strong growth momentum, particularly in our oral care and pet nutrition businesses, both of which delivered an acceleration in net and organic sales growth in full year 2021 versus 2020, CEO Noel Wallace told investors in an earnings call on Jan. 28.
