2022-03-22 14:31Publish 6428Views · 0Collects
Mohawk Industries, the world’s largest tile, commercial floor materials and international home furnishings company, had net sales of $2.8 billion in the 2021 to Dec. 31, that was up 4.5% from $2.6 billion a year earlier. Fourth-quarter net income was $189M, or $2.80 per diluted share, down 23.8 per cent from $248m, or $3.49 per diluted share, a year earlier. For the year as a whole, net sales last year were about $11.2 billion, up 17.3 percent from $9.6 billion in 2020, although sales in the fourth quarter were down from the previous quarter. Net income for the year was $1.03 BN, or $14.94 a share. That compares with net income of $516M, or $7.22 a share, in the same period last year. Kahnawake Geoffrey Pearson, Chairman and CEO, Jeffrey S. “There has been a significant improvement in 2021 KAHNAWAKE’s business,”says Lorberbaum. Operating margins for the full year soared to 12 per cent. 2021 adjusted operating income was close to $1.4 bn and adjusted EBITDA (earnings before interest, tax, depreciation and Amortisation) exceeded $1.9 bn. In addition, we achieved organic sales growth of 12 per cent and an adjusted margin increase of 270 basis points compared to 2019 before the new crown epidemic.”
Our balance sheet has been in good shape. In the fourth quarter, we bought back about 2.4 million shares, for a total of about 4.9 million shares for the year. In February this year, the company’s board of directors approved another $500 million worth of stock buybacks, reaffirmed our confidence in the strength of the company and improved shareholder returns,”added Geoffrey Pearson. In addition, Mohawk Industries expects GDP growth of 3 to 5 per cent in most of its markets this year, with residential sales remaining strong, business sales improving, inflation easing and restrictions on labour, raw materials and energy easing. Adjusted earnings per share for the first quarter of 2022 are expected to be between $2.90 and $3, excluding restructuring costs. Founded in 1878, Mohawk Industries became the world’s largest by acquisition. Formerly a carpet textile mill, 1878 was founded by the Shuttleworth Family in New York state and is headquartered in Calhoun, ga. . Mohawk Industries is currently the world’s largest ceramic tile company and the world’s largest supplier of commercial floor materials, one of the Fortune 500 companies in the United States. In 2015, Mohawk Industries’tile production capacity was estimated by the world ceramics review to be between 225 million square meters and 245 million square meters, ranking first in the world. The company has a complete range of products, in addition to ceramic tiles, the company also produces composite laminate flooring, wood, stone, plastic flooring, rugs and carpet liner and other products.
Mohawk industries has a clear strategic agenda, primarily expanding its footprint through investments and acquisitions. On the one hand, the merger of value-added counterparts around the world, expand product categories, increase sales market; on the other hand, continuous investment to expand production capacity, while upgrading and upgrading the old production line equipment, improve efficiency and reduce costs. Mohawk Industries is also open about its strategy, using the term “Aggressive”(aggressive, aggressive) in its literature. Over the past decade, Mohawk Industries has invested heavily in global mergers and acquisitions, including tile, wood flooring, composite panels and polyethylene panels. As far as tiles go, Mohawk Industries’Dal-Tile has a 38 percent share of the U.S. tile market as of 2009, making it the largest tile maker in the country, with professional equipment, large-scale production and the world’s advanced production and management technology team strength. In 2012, Dal-Tile acquired a 100 percent stake in Marazzi, Italy’s largest tile brand, in a deal that covered all of Marrazzi’s businesses in countries including Italy, Russia and the United States, the deal, worth as much as 7.5 billion yuan, helped make Mohawk industries the world’s largest tile company. In 2015, Mohawk Industries Acquired Kai, a leading Bulgarian tile company, to lead the Eastern European market.
After a series of acquisitions, Mohawk Industries now has a number of well-known tile brands under its umbrella, including American Olean, Dal-Tile, Italian Marazzi and Ragno, russia’s biggest tiling brand, Kerama Marazzi, and Bulgaria’s biggest tiling producer, Kai. In the area of flooring materials, Mohall Industries led the market for composite flooring in North America and Europe with its 2005 acquisition of Belgian flooring company Unilin, and in 2015 it acquired the IVC group, a leading manufacturer of plastic flooring in Belgium, for $1.2 billion. At the time, IVC’s annual sales were close to $70 million, and the acquisition enabled Kahnawake to further expand its European sales of IVC products, which grew about 18% globally in 2014. Mohawk industries, which partnered with Guangdong Xinghui a decade ago to enter the Chinese market, does not currently acquire Chinese ceramic or flooring companies. However, while there has been no acquisition, but MOHAWK industries has also entered the Chinese market through partnerships with Chinese companies. As early as 2010, Mohawk industries entered into strategic cooperation with Guangdong Xinghui ceramics group to expand the international market. And Mohawk Industries has made it clear in its annual report that its growth strategy is to continue to accelerate our pace, suggesting that various forms of investment and mergers will continue. Perhaps in the near future, Mohawk industries will take a new approach to the Chinese market.