Avery Dennison Sees Nearly 21% Increase in Net Sales for 2021
The company posted full-year net sales of $8.4 billion.
Avery Dennison Corp. recently announced preliminary, unaudited results for its 2021 fourth quarter and full year ended January 1, 2022. The company’s net sales grew by 9.7% in the 2021 fourth quarter, to reach $2.2 billion, while full-year net sales reached $8.4 billion (a 20.6% increase).
“2021 marked the company’s tenth consecutive year of strong top- and bottom-line growth,” said Mitch Butier, chairman, president, and CEO. “We delivered 19 percent revenue growth on a constant currency basis and 25 percent adjusted earnings per share growth, while generating record free cash flow. Our strong performance comes at a challenging time as the global health crisis continues, supply chains are tight and significant inflationary pressures persist.
“2021 marked an important milestone for the company, as the final year of measurement for the five-year financial targets we communicated in early 2017. I’m pleased to report that we achieved our long-term goals for this period. For 2022, we expect to again deliver strong top- and bottom-line growth and are targeting continued progress toward our 2025 goals. Once again, I want to thank our entire team for their tireless efforts to keep one another safe while delivering for all our stakeholders.”
Additional details are available at www.averydennison.com.
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