The company reported net sales of $23.2 billion for 2023 and said organic sales rose 12%. It said sales volumes increased in most of its business segments, including net price realization.

1. 01

   The company reported net sales of $23.2 billion for 2023 and said organic sales rose 12%. It said sales volumes increased in most of its business segments, including net price realization.

2. 02

   The company said its gross profit margin rose from 33.2% in 2023 to 36.4% in 2022. It cited higher sales volumes and net price realization as the main drivers, partially offset by higher costs to support growth initiatives, unfavorable product mix and operating inefficiencies.

3. 03

   The company said net cash provided by operating activities rose $1,091 million in 2023 compared with 2022. It cited lower investment in working capital and higher net income as the main factors.

4. 04

   The company said it paid $1,379 million in cash dividends in 2023 and repurchased no common shares that year. It said the remaining repurchase authorization under the 2022 Program was $4,714 million as of December 31, 2023.

Key figures

Fiscal year ended December 31, 2023

Revenue

$23.2B

Net income

$3.2B

EPS

$8.02

Operating cash flow

$3.6B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.