Proctor and Gamble 2015 Annual Report Download - page 33

31 The Procter & Gamble Company
 R D R R
 millions 2015
Change
s. 2014 2014
Change
s. 201
olume NA (4) NA 
Net sales 1,15 (7) $19,507 (2)
Net earnings 2,54 (6) $2,739 11
 of net sales 14.2 20 bps 14.0 160 bps
Fiscal year 2015 comparedwithfiscalyear 2014
eauty, Hair and Personal Care net sales decreased 7 to $18.1
billion in 2015 on a 4 decrease in unit volume. Organic sales
decreased 1 on a 3 decline in organic volume. Unfavorable
foreign exchange reduced net sales by 5. Increased pricing
was a benefit of 2. Global market share of the eauty, Hair
and Personal Care segment decreased 0.5 points. olume
decreased low single digits in developed markets and was down
mid-single digits in developing markets.
 olume in Hair Care and Color decreased low single digits
in both developed and developing markets following
minor divestitures and competitive activity. Global
market share of the hair care category was down more than
half a point.
 olume in Skin and Personal Care was down mid-single
digits, driven by a high single-digits decline in developing
markets, primarily due to decreases in skin care and
personal cleansing due to ongoing competitive activity.
olume was unchanged in developed markets. Global
market share of the skin and personal care category was
down half a point.
 olume in Cosmetics was unchanged as a mid-single-digit
increase in developing markets primarily due to market
growth and product innovation was offset by a low single-
digit decrease in developed markets due to competitive
activity. Global market share of the cosmetics category
was down slightly.
 olume in Salon Professional decreased low single digits
due to a low single-digit decrease in developed markets
primarily due to market declines. olume in developing
markets was unchanged.
 olume in Prestige decreased double digits due to
competitive activity and reduced levels of initiative
activity.
Net earnings decreased 6 to $2.6 billion primarily due to
lower volume and the currency-driven reduction in net sales.
Net earnings margin increased 20 basis points due to a
reduction in SG&Aas a percent of sales, behind lower spending
from the Company's focus on marketing efficiencies.
Fiscal year 2014 comparedwithfiscalyear 2013
eauty, Hair and Personal Care net sales decreased 2 to $19.5
billion in 2014. Unit volume was in line with the prior year
period as overall market growth was offset by share declines
from the impacts of competitive activity. Organic sales were
flat. Unfavorable foreign exchange reduced net sales by 2.
Global market share of the eauty, Hair and Personal Care
segment decreased 0.4 points. olume increased low single
digits in developing markets and declined low single digits in
developed markets.
 olume in Hair Care and Color was flat with a decrease
in developed regions offset by an increase in developing
regions. Global market share of the hair care category
decreased nearly half a point.
 olume in Skin and Personal Care increased low single
digits due to product and commercial innovation and
market growth for personal cleansing and deodorants,
partially offset by a decrease in facial skin care due to
competitive activity. Global market share of the skin and
personal care category decreased nearly half a point.
 olume in Cosmetics increased low single digits in both
developed and developing markets due to market growth
and product innovation. Global market share of the
cosmetics category decreased slightly.
 olume in Salon Professional decreased mid-single digits
due to competitive activity and European market
contraction.
 olume in Prestige decreased low single digits due to
minor brand divestitures.
Net earnings increased 11 to $2.7 billion due to a 160 basis
point increase in net earnings margin. Net earnings margin
increased due to a decrease in SG&A and a gain on a minor
brand divestiture (Pert in Latin America), partially offset by
gross margin contraction. SG&A decreased primarily due to
a reduction in marketing spending resulting from optimization
efforts. Gross margin decreased slightly due to the impact of
foreign exchange and negative geographic and product mix,
partially offset by manufacturing cost savings.
R
 millions 2015
Change
s. 2014 2014
Change
s. 201
olume NA (3) NA 1
Net sales ,441 (7) $8,009 
Net earnings 1, (9) $1,954 6
 of net sales 24.0 (40) bps 24.4 150 bps
Fiscal year 2015 comparedwithfiscalyear 2014
Grooming net sales decreased 7 to $7.4 billion in 2015 on a
3 decrease in unit volume. Organic sales increased 1. Price
increases in blades and razors and appliances contributed 4
to net sales while unfavorable foreign exchange reduced net
sales by 8. Global market share of the Grooming segment
decreased 0.1 points versus year ago. olume decreased low
single digits in both developed and developing regions.
 Shave Care volume decreased low single digits due to a
mid-single-digit decline in developed regions from lower
trade inventory levels and a low single digit-decrease in
developing regions following increased pricing. Global
market share of the blades and razors category was up
slightly.
 olume in Electronic Hair Removal increased mid-single
digits due to mid-single-digit growth in developed markets
and low single-digit growth in developing markets behind