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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