RPM International Inc. recently reported financial results for its fiscal 2021 fourth quarter and year ended May 31, 2021. Fiscal 2021 net sales were $6.1 billion, an increase of 10.9% compared to $5.5 billion during fiscal 2020. Organic sales increased 8.1%, while acquisitions added 1.8%. Foreign currency translation increased sales by 1%.
The Construction Products Group’s fiscal 2021 full-year sales were nearly $2.1 billion, an increase of 10.4% compared to almost $1.9 billion during fiscal 2020. Sales grew organically by 9.5%, and foreign currency translation added 0.9%.
Sales for the Performance Coatings Group declined by 4.8% in the fiscal 2021 year, to $1.03 billion from $1.08 billion in the prior year. Organic sales decreased 6.8%, while acquisitions added 0.7%. Foreign currency translation increased sales by 1.3%.
In the Consumer Group, fiscal 2021 sales were up 18% to $2.3 billion from $1.9 billion during fiscal 2020. Organic sales increased 13.3%, while acquisitions added 3.8%. Foreign currency increased sales by 0.9%.
“As we conclude a fiscal year unlike any other, I am extremely grateful for the perseverance of our associates around the world,” said Frank C. Sullivan, chairman and CEO. “Through their efforts, we were able to generate very strong fourth-quarter and full-year financial results. For the full fiscal year, consolidated sales increased nearly 11% to $6.1 billion, net income increased 65% to $502.6 million, and cash flow climbed nearly 40% to a record $766.2 million.
“Also at year end, we brought our MAP to Growth operating improvement program to a successful conclusion. Over the course of the three-year initiative, we reduced our global manufacturing footprint by 28 facilities, created a lasting culture of manufacturing excellence and continuous improvement, consolidated material spending across our operating companies, negotiated improved payment terms that helped us to reduce working capital, consolidated 46 accounting locations, migrated 75% of our organization to one of four group-level ERP platforms and returned $1.1 billion of capital to shareholders.”
Learn more about RPM International at www.rpminc.com.