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Avery Dennison Announces 4Q, Full Year 2021 Results

FY21 net sales increased 20.6% to $8.4 billion, with organic sales growth (non-GAAP) of 15.6%.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Avery Dennison announced preliminary, unaudited results for its fourth quarter and full year ended Jan. 1, 2022.

Avery Dennison’s FY21 net sales increased 20.6% to $8.4 billion, with organic sales growth (non-GAAP) of 15.6%. 4Q21 net sales increased 9.7% to $2.2 billion, with organic sales growth (non-GAAP) of 12.8%.

“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% revenue growth on a constant currency basis and 25% 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,” added Butier. “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 pro-gress toward our 2025 goals.”

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