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Mohawk: increases in all business divisions again

26.02.2021 − 

Following heterogeneous development in the preceding quarters, Mohawk Industries recorded growth in turnover and results figures across all three business divisions again in the fourth quarter. In this connection, the flooring rest of the world division once again developed most positively. In comparison with the preceding year, business division turnover increased by 20.5% to US$758.7m; turnover was up by 11.4% vis à vis the third quarter (US$681.3). Adjusted to account for significantly positive exchange rate effects, flooring RoW achieved growth of 14.9% vis à vis the preceding year; when additionally adjusted to account for the greater number of days involving deliveries, turnover was still up by 13.2%. In comparison with the preceding year, operating profit rose by almost two-thirds to US$132.5m. Extraordinary factors due to restructuring, acquisitions and integration were similarly high at US$5.5m, resulting in adjusted operating profit of US$138.0m. The operating margin thus amounted to 17.5% overall and to 18.2% on an adjusted basis.

According to Mohawk CEO Jeffrey Lorberbaum, almost all product categories and sales markets contributed to the increases in turnover and results. The plants have been utilising capacities almost fully; delays in deliveries have already been recorded in the wood-based panels sector. The cost increases recorded in the fourth quarter concerning the majority of upstream products are to be offset by price increases.

Turnover generated in the flooring North America division amounted to US$963.4m, exceeding the preceding year’s figure by 2.9%; the US$982.3m generated in the third quarter, however, was not reached. Operating profit amounted to US$82.4m, representing growth of 178% vis à vis the preceding year and of 10.9% compared to the third quarter.

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