Hain Reports 4% Decrease In Net Sales For Full Year
The organic and natural products company Hain has 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, the Cully & Sully, Linda McCarthy and Ella's Kitchen owner said.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) was $258.9 million, compared to $200 million in the previous year.
For the fourth quarter of the year, the group reported that its net sales decreased 12% to $450.7 million, or 17% on a constant currency basis, compared to the prior year period.
When adjusted for foreign exchange, divestitures and discontinued brands, net sales decreased 8% compared to the prior year period, it added.
'Proud' Of Fourth Quarter
Mark L. Schiller, Hain Celestial's president and chief executive officer, said he is very proud of the groups solid fourth quarter and full fiscal year 2021 results.
"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," he said.
Schiller added, "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."
Headquartered in Lake Success, NY s a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East.