Essity, the company behind brands including Bodyform, Tena, Cushelle and Plenty, grew its net sales by 31% to approximately SEK 38bn (£3.1bn) during the second quarter of 2022.
Despite implementing “significant” price increases, the company achieved sales volume growth in all three of its business areas, including health and medical, consumer goods and professional hygiene. CEO and president Magnus Groth explains that price elasticity in Essity’s categories is “low”, while its brands are “strong”.
Groth also credits long-term investments in marketing, innovation and digitalisation with driving market share growth for approximately 50% of branded sales in the retail trade over the past 12 months.
Sales and marketing costs continued to increase over the quarter, but decreased as a share of net sales, Groth adds.
Adjusted EBITDA profit did decrease by 7% to SEK 3.2bn (£258m) compared with the same period in 2021, but increased 12% compared with the first quarter of 2022. Rising material, energy and distribution costs were offset by price rises, a “better” mix and higher volumes.
Further price increases are to be carried out in the second half of the year, Groth says.
Bodyform recently launched ‘Periodsomnia’, the latest in a series of campaigns designed to tackle the taboos around periods. It follows the launch of ‘Pain Stories,’ last year, which looked to highlight the plight of those suffering from endometriosis.
Prior to this it launched ‘Blood Normal’, ‘Viva La Vulva’ and ‘Womb Stories’ all addressing neglected feminine issues with the aim of normalising menstruation.