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Mohawk: Decline in results at Flooring RoW accelerates

10.08.2017 − 

In its Flooring Rest of the World division, Mohawk Industries, suffered further falls in results in the second quarter despite stronger growth in turnover. In the first quarter, divisional turnover had risen year on year by only 1% to US$496.2m, while the operating result had declined by 4% to US$76.1m. In the second quarter, with a plus of 2.1% to US$510.1m, turnover showed slightly stronger growth. Adjusted for the number of working days and currency-exchange effects, growth reached 8.5%.

In contrast, against the backdrop of further increases in upstream-product costs and declining licence income, the operating result decreased year on year by 14.8% to US$86.1m, and after adjustment by 12.3%. The operating margin fell to 16.9%. Mohawk reports that the price hikes planned to compensate for higher costs will probably not be introduced until the fourth quarter.

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