Colgate Palmolive reports USD 20.1B net sales for FY2024
Colgate-Palmolive reported USD 20.1 billion in net sales for FY2024, showing growth driven by strong organic sales.
USA – Colgate-Palmolive, a global leader in health care and personal care products, has reported strong financial results for the fiscal year 2024, with net sales reaching USD 20.1 billion, marking a 3.3% increase from the previous year.
Organic sales growth was 7.4%, driven by strong performance across various product categories.
The company saw significant improvements in profitability, with GAAP earnings per share (EPS) rising by 27% to USD 3.51 million, while base business EPS increased by 11% to USD 3.60 million.
The gross profit margin improved by 230 basis points, reaching 60.5%.
Operating cash flow grew by 10%, amounting to USD 4.1 billion.
Noel Mallace, Chairman, President and Chief Eñecutive Efĝcer, stated, ¨Colgate-Palmolive people delivered another year of strong top and bottom-line results in 2024, surpassing $20 billion in net sales for the first time.¨
¨We continued executing our strategy of delivering sustainable, profitable growth while investing for the future and scaling our improved capabilities across the organization.¨
The Colgate Total Franchise remained the most penetrated brand worldwide, while Elmex Sensitivity + Gum toothpaste gained traction in the sensitivity segment across Europe and Latin America.
Regional sales distribution showed North America contributing 21%, Latin America 24%, Europe 14%, Asia Pacific 14%, and Africa/Eurasia 5%, underscoring the company’s strong presence in emerging markets and the role of innovative oral care products in driving global success.
Meanwhile, Colgate-Palmolive has partnered with NoPalm Ingredients, a Dutch biotech company, to develop sustainable alternatives to palm oil in soap production.
This collaboration focuses on using fermentation-based oils derived from upcycled agricultural byproducts, such as potato peels, vegetable cuttings, and dairy by-products.
According to Lars Langhout, the CEO of NoPalm Ingredients, these oils are produced through a patented, non-GMO yeast fermentation process.
This process offers a 90% lower carbon footprint and requires 99% less land compared to traditional palm oil.
The partnership builds on a successful pilot project launched in 2023 as part of the 100+ Accelerator program.
Colgate-Palmolive and NoPalm Ingredients co-developed the first soap bars using this innovative oil.
The flagship oil is set to be launched commercially in 2026.
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