The company said total sales rose 4.1% year over year in 2023, with sales from existing businesses up 4.8%. It cited price gains of 4.5% and volume growth of 0.3% as the drivers.

1. 01

   The company said total sales rose 4.1% year over year in 2023, with sales from existing businesses up 4.8%. It cited price gains of 4.5% and volume growth of 0.3% as the drivers.

2. 02

   The company said its operating profit margin rose to 18.7% in 2023, up 180 basis points from 16.9% in 2022. It said price, volume and productivity effects contributed 160 basis points, while restructuring costs in 2023 weighed on the margin by 95 basis points.

3. 03

   The company said operating cash flow for 2023 was about $1.4 billion, up $50 million (about 3.9%) from 2022. Net cash used in investing activities was about $195 million, compared with about $103 million in 2022, and the company cited a $83 million increase in acquisition spending and a $12 million increase in capital expenditures as the reasons.

4. 04

   The company said it entered into a 364-day delayed-draw term loan agreement on December 7, 2023 with a maximum principal amount of $1.3 billion, and drew $550 million under it on December 14. The principal is due on December 12, 2024.

Key figures

Fiscal year ended December 31, 2023

Revenue

$6.1B

Operating income

$1.1B

EPS

$2.43

Gross profit

$3.6B

Operating cash flow

$1.4B

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.