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2006 Annual Report
| Excellent Top-Line Growth Across All Divisions |
 |
|
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| (Dollars in Millions Except Per Share Amounts) |
|
| |
2006* |
2005† |
Change |
|
| Unit Volume, Excluding Divested Businesses |
|
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+7.0% |
|
| Worldwide Sales |
$12,237.7 |
$11,396.9 |
+7.5% |
| |
| Gross Profit Margin |
54.8% |
54.4% |
+40 basis
points |
| |
| Operating Profit |
$2,160.5 |
$2,215.0 |
-2% |
| |
| Operating Profit Margin |
17.7% |
19.4% |
-170 basis
points |
| |
| Net Income |
$1,353.4 |
$1,351.4 |
- |
| |
| Percent to Sales |
11.1% |
11.9% |
-80 basis
points |
| |
| Diluted Earnings Per Share |
$2.46 |
$2.43 |
+1% |
| |
| Dividends Paid Per Share |
$1.25 |
$1.11 |
+13% |
| |
| Operating Cash Flow |
$1,821.5 |
$1,784.4 |
+2% |
| |
Number of Registered
Common Shareholders |
33,400 |
35,000 |
–5% |
| |
| Number of Common Shares Outstanding (in millions) |
513 |
516 |
-1% |
| |
| Year-end Stock Price |
$65.24 |
$54.85 |
+19% |
*Net income and diluted earnings per share in 2006 include an aftertax charge of $286.3 million ($.52 per share) related to the 2004 Restructuring Program and the net
aftertax impact of certain Other Items that reduced net income by $9.9 million ($.02 per share).
†Net income and diluted earnings per share in 2005 include an aftertax charge of $145.1 million ($.26 per share) related to the 2004 Restructuring Program, partially
offset by the net aftertax impact of certain Other Items that increased net income by $29.9 million ($.05 per share).
A complete reconciliation between reported results and results excluding the 2004 Restructuring Program and Other Items, including a description of such Other Items,
is available on Colgate’s web site.
- Worldwide sales rose 7.5% to an all-time record
level.
- Every operating division reported sales and
operating profit increases for the year.
- Gross profit margin increased 40 basis points.
Excluding restructuring charges, gross profit
margin increased 110 basis points to a record
high.
- Global advertising grew 11% to an all-time record
level of $1,320.3 million, on top of double-digit
growth in the prior year.
- Operating cash flow grew to an all-time record
level of $1,821.5 million for the year.
- The quarterly dividend rate was increased by
10% in 2006.
Growth Highlights of Five Divisions (% of sales)
North America
- Unit volume grew 7.0%,
excluding 2005 divestments.
- Sales and operating
profit increased 3.0%
and 1%, respectively.
- The Tom’s of Maine
acquisition added 1.0%
to both sales and volume
growth for the region.
- Colgate expanded its
Number One position
in the U.S. toothpaste
market to a record 37.3%
market share.
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Latin America
- Unit volume grew 10.0% in 2006.
- Sales and operating profit increased 15.0% and 25%, respectively.
- Growth was boosted by an array of successful products, including Colgate Total and Colgate
Max Fresh toothpastes, Colgate 360° manual toothbrush and Lady Speed Stick Double Defense deodorant.
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Europe/South Pacific
- Unit volume grew 5.0%, excluding divestments.
- Sales and operating profit increased 3.5% and 10%, respectively.
- Colgate Time Control and Colgate Sensitive Multi Protection toothpastes, Colgate 360° manual toothbrush and Palmolive Pure Cashmere shower gel drove growth throughout the region.
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Greater Asia/Africa
- Delivered strong 7.5% unit volume growth in 2006, excluding divestments.
- Sales and operating profit increased 5.5% and 14%, respectively.
- Colgate Sensitive Multi Protection and Colgate Total Propolis toothpastes, and Colgate
360° manual toothbrush drove growth in oral care throughout the region.
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Hill's Pet Nutrition
- World leader in specialty pet food, Hill’s increased unit volume 6.0% in 2006.
- Sales and operating profit increased 10.0% and 9%, respectively.
- Veterinary recommendations and innovative new products including Prescription Diet j/d Canine
and Science Diet Indoor Cat pet foods continue to drive growth at Hill’s.
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 Highlights
Dear Colgate Shareholder
Colgate's Corporate Governance Commitment
Download Microsoft Excel Document
Dynamic 2006 Annual Report
Download 2006 Annual Report -pdf
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