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Growing tile sales boost Mohawk’s annual results

August 2018

Mohawk Industries’ results for 2017 show that the US flooring giant has broken its previous year’s trading records.  Net sales grew by 5.9% to $9.5 billion.  EBITDA rose to $1.859 billion, up 8.6% on 2016’s $1.711 billion, and equivalent to 19.6% of sales. Operating income grew by 9% to $1.416 billion, 15% of sales.  Net earnings rose 8.4% from $940 million to $1.019 billion.

At a geographical level, 63% of sales were generated in the USA, 25% in Europe, 3% in Russia, and 8% in other international markets.

Excellent results were posted by the Global Ceramic division (brands American Olean, Dal-Tile, Emilgroup, KAI, Kerama Marazzi, Marazzi, Ragno, and Ceramica Marconi with facilities in the USA, Mexico, Italy, Spain, Bulgaria, Poland and Russia).  Sales grew from $3.175 billion in 2016 to $3.405 billion in 2017, while operating income reached $545 million (16% of sales), 13.3% up on the $481 million of 2016.

These figures bolster the US multinational’s position as the world’s largest producer and distributor of ceramic tiles, with a market leading position in North America, Western and Eastern Europe and Russia.  The division’s results of Q1 2018 were equally positive. Sales grew by 12% compared to Q1 2017, up 8% at constant exchange rates.

More at: https://www.mohawkflooring.com

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