Readers last week were massively drawn to an announcement from H.B. Fuller regarding its 2021 results (H.B. Fuller Revenue Jumps 17.5% in 2021): “H.B. Fuller Co. recently reported financial results for its fourth quarter and fiscal year ended November 27, 2021. The fourth quarter’s net revenue reached $897 million, a 15.4% increase compared with the fourth quarter of 2020. Foreign currency exchange rates favorably impacted revenue by 0.5%. Organic revenue, which excludes impacts from foreign currency translation, increased 14.9% vs. last year, with double-digit organic growth in all three global business units (GBUs). Organic revenue increased by more than 20% when compared with the non-COVID-impacted fourth quarter of 2019.
‘Our business momentum continued in the fourth quarter with 15% organic revenue growth and improved margin performance,’ said Jim Owens, H.B. Fuller’s president and CEO. ‘We successfully executed on our 2021 priorities of volume growth, pricing to value and greater productivity. We drove double-digit organic revenue growth relative to both 2019 and 2020, and we further improved our net debt to EBITDA ratio.’
“The company’s net revenue for fiscal 2021 was $3.3 billion, an increase of 17.5% compared with fiscal 2020 and 13.1% compared with pre-COVID results in fiscal 2019. Foreign currency exchange rates favorably impacted full-year revenue by 2.3% compared with fiscal 2020. Full-year organic revenue increased by 15.2% year-over-year.”
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Top 5 News that Sticks for January 23-29
- H.B. Fuller Revenue Jumps 17.5% in 2021 #4 last week
- Boelkins Joins ChemQuest as Vice President
- Greek Adhesives and Sealants Producers Form Industry Association 2nd week at #3
- Henkel Invests in Medical Technology Start-Up Smartz #1 last week
- Arkema to Increase Production of Bio-Circular Elastomers
This weekly roundup highlights the adhesives, sealants, and coatings-related news stories that garnered the most attention during the previous week on our website, as well as our eNewsletters and social media channels.