Building products» More news on Building products

Mohawk turnover higher than in first quarter

09.09.2021 − 

In the second quarter, Mohawk Industries was able to increase its turnover figures to new record levels, despite numerous supply-related production shutdowns. Results were even better than expected, although cost increases - some of them significant - were recorded in raw material purchasing. Once again all business figures far exceeded those of the previous year, which had been strongly affected by the corona crisis. Even compared to the first quarter, all three business divisions recorded increases both in turnover and results.

The flooring rest of the world business division once again developed along the most positive lines. Turnover increased by more than two-thirds vis à vis the comparative period of the preceding year to US$833.1m; adjusted to account for considerable positive exchange rate effects, the increase still amounted to 50%. Operating profit more than quintupled to US$163.9m due to increases in sales volume, in some cases multiple price increases as well as improvements in the product mix, consequently the operating margin rose to 19.7%. The two other divisions were able to reverse the losses recorded in the previous year and were clearly back in the black. The flooring North America business division recorded turnover of US$1.081bn and operating profit of US$115.9m. In the global ceramic business division turnover amounted to US$1.040bn and operating profit to US$136.4m. This means that both business divisions, at 10.7% and 13.1% respectively, recorded operative margins in the double-digit range. Group turnover in the second quarter rose by 44.1% to US$2.954bn, operating profit amounted to US$404.4m.

Tags of this news:

previous − Tarkett likely to remain below targeted margin in 2022

Hörmann Group acquiring interior door producer Lebo  − next