Company: CL
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000021665-25-000008
Chunk: 115

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 115
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, Brazil and Mexico.

The increase in organic sales in Latin America in 2024 versus 2023 was due to increases in Oral Care,  Home Care and Personal Care organic sales. The increase in Oral Care was primarily due to organic sales growth in the toothpaste, manual toothbrush and mouthwash categories. The increase in Home Care was primarily due to organic sales growth in the surface cleaner and hand dish categories. The increase in Personal Care was primarily due to organic sales growth in the underarm protection category. 

Operating profit in Latin America increased 8% in 2024 to $1,526, or 140 bps to 31.9% as a percentage of Net sales. This increase in Operating profit as a percentage of Net sales was primarily due to an increase in Gross profit (220 bps), partially offset by an increase in Selling, general and administrative expenses (100 bps), both as a percentage of Net sales. This increase in Gross profit was due to higher pricing and cost savings from the Company’s funding-the-growth initiatives (290 bps), partially offset by significantly higher raw and packaging material costs (540 bps), which included foreign exchange transaction costs. This increase in Selling, general and administrative expenses was due to higher overhead expenses (60 bps) and increased advertising investment (50 bps). 

39

(Dollars in Millions Except Per Share Amounts)

Europe 20242023% ChangeNet sales$2,770 $2,571 7.7 %Operating profit$658 $573 15 %% of Net sales23.7 %22.3 %140 bps

Net sales in Europe increased 7.7% in 2024 to $2,770, driven by volume growth of 4.1%, net selling price increases of 2.5% and positive foreign exchange of 1.1%. Organic sales in Europe increased 6.7% in 2024. Organic sales growth was led by Germany, the United Kingdom, France and Poland. 

The increase in organic sales in Europe in 2024 versus 2023 was primarily due to increases in Oral Care and Personal Care organic sales. The increase in Oral Care was primarily due to organic sales growth in the toothpaste category. The increase in Personal Care was primarily due to organic sales growth in the body wash category. 

Operating profit in Europe increased 15% in 2024 to $658, or 140 bps to 23.7% as