Company: CL
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000021665-25-000008
Chunk: 114

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 114
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%(90)bps

Net sales in North America increased 0.5% in 2024 to $4,113, driven by volume growth of 2.6%, partially offset by net selling price decreases of 1.9% and negative foreign exchange of 0.1%. Organic sales in North America increased 0.7% in 2024. The organic sales growth was driven by the United States and Canada.

The increase in organic sales in North America in 2024 versus 2023 was due to increases in Home Care and Oral Care organic sales, partially offset by a decrease in Personal Care organic sales. The increase in Home Care was primarily due to organic sales growth in the surface cleaner category, partially offset by an organic sales decline in the hand dish category. The increase in Oral Care was primarily due to organic sales growth in the toothpaste and manual toothbrush categories. The decrease in Personal Care was primarily due to organic sales declines in the skin health and underarm protection categories, partially offset by organic sales growth in the liquid hand soap category.

Operating profit in North America decreased 4% in 2024 to $839, or 90 bps to 20.4% as a percentage of Net Sales. This decrease in Operating profit as a percentage of Net sales was due to an increase in Gross profit (60 bps), more than offset by an increase in Selling, general and administrative expenses (150 bps), both as a percentage of Net sales. This increase in Gross profit was primarily due to cost savings from the Company’s funding-the-growth initiatives (210 bps), partially offset by lower pricing and higher raw and packaging material costs (50 bps). This increase in Selling, general and administrative expenses was primarily due to increased advertising investment (140 bps). 

38

(Dollars in Millions Except Per Share Amounts)

Latin America 20242023% ChangeNet sales$4,782 $4,640 3.1 %Operating profit$1,526 $1,417 8 %% of Net sales31.9 %30.5 %140 bps

Net sales in Latin America increased 3.1% in 2024 to $4,782, driven by volume growth of 3.9% and net selling price increases of 12.9%, partially offset by negative foreign exchange of 13.7%. Organic sales in Latin America increased 16.8% in 2024. Organic sales growth was led by Argentina