The chief executive of Hain Celestial, Mark Schiller, has said that the business expects "another strong year" of trading in 2022, following what he described as a "robust" set of 2021/2022 figures.
The owner of brands such as Ella's Kitchen, Hartley's, Sun-Pat and Cully & Sully, reported a 4% decrease in net sales for the year to 30 June (to $1.97 billion), with constant currency sales down 7%.
When adjusted for foreign exchange, divestitures and discontinued brands, net sales decreased 1% compared to the prior year, it added.
Adjusted EBITDA was $258.9 million, compared to $200 million in the previous year.
Transformation Plan
"We are very proud of our solid fourth quarter and full fiscal year 2021 results," said Schiller.
"In spite of the many challenges our industry faced this past year, we continued to successfully execute against our transformation plan, delivering robust full year margin expansion and strong adjusted EBITDA growth."
Announcing its full-year results, Hain Celestial unveiled a new $300 million share repurchasing scheme.
Fourth-Quarter Performance
For the fourth quarter of the year, net sales were down 12% to $450.7 million, or 17% lower on a constant currency basis. Adjusted EBITDA came in at $68.1 million.
In its North America business, the group posted net sales of $253.3 million in the fourth quarter, a 15% decline, while International sales were down 7% in the quarter, to $197.3 million.
Looking ahead to the coming fiscal year, the group expects to report low single digit adjusted net sales growth and mid to high single digit adjusted EBITDA growth, despite the challenges in the marketplace.
"Heading into 2022, we expect another strong year with adjusted net sales growth, margin expansion and adjusted EBITDA growth even in this challenging environment of high inflation and labor shortages," said Schiller.
The company recently announced a number of product divestments, including its Dream and Westsoy brands.
© 2021 European Supermarket Magazine – your source for the latest A-Brands news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
