Net revenue

Jeld-Wen Holding net sales increased 11.8% in Q4

Jeld-Wen Holding’s Q4 2021 net revenue increased $135.7 million, or 11.8%, to $1,286.9 million from $1,151.3 million for the same period last year. The increase in net sales is explained by a 12% growth in base sales.

Q4 2021 net income decreased $1.2 million to $42.1 million from $43.2 million in the same period last year. The decline in net profit was largely due to lower gross profit due to inflation and higher income tax expense, partially offset by lower general and administrative expenses. Adjusted net income for 4Q 2021 decreased $1.3 million, or 2.7%, to $44.6 million from $45.9 million in the same period last year last.

Adjusted EBITDA increased by $4.6 million, or 4.0%, to $120.1 million, compared to the same quarter last year. Adjusted EBITDA margin declined due to higher raw material, freight and labor inflation, partially offset by higher price realization and lower selling and selling expenses. ‘administration.

“Our associates’ commitment to serving customers and relentless focus on continuous improvement drove strong financial performance in 2021, including record revenue and base revenue growth,” said Gary S. Michel, Chairman of the Board, President and Chief Executive Officer. “Our industry-leading performance culture is a competitive advantage that drives improved execution, including industry-leading delivery times, and lays the foundation for future above-market growth.”

“We head into 2022 with robust demand in our end markets and with confidence that our commercial and operational excellence initiatives are poised to drive game-changing growth and margin expansion,” said Michel. “We expect these initiatives, combined with a return-driven capital deployment, to result in sustained improvement in shareholder value.”

Net revenue for the twelve months ended December 31, 2021 increased $536 million, or 12.7%, to $4.772 billion from $4.236 billion for the same period last year. This increase is explained by a 10% increase in base income and a 3% foreign exchange benefit.

Net income for fiscal 2021 increased $77.2 million, or 84.3%, to $168.8 million from $91.6 million in the same period last year. The increase in net profit was primarily driven by higher gross profit from price and volume/mix realization and higher foreign exchange gains, partially offset by a higher tax expense. Adjusted EBITDA in 2021 increased by $18.7 million, or 4.2%, to reach $465.1 million, compared to $446.4 million for the same period last year. Adjusted EBITDA margins decreased by 80 basis points to 9.7%, compared to 10.5% in the same period a year ago.

Jeld-Wen is one of the world’s leading manufacturers of high-performance interior and exterior building products, offering one of the widest selections of windows, interior and exterior doors, and wall systems.