James Hardie(US:JHX)2022-05-20 18:57Financial Performance - Global net sales increased by 20% to $968.2 million in Q4 FY22 and by 24% to $3614.7 million for the full year FY22[19] - Adjusted EBIT increased by 30% to $225.3 million in Q4 FY22 and by 30% to $815.6 million for the full year FY22[19] - Adjusted net income increased by 42% to $177.5 million for the quarter and 36% to $620.7 million for the fiscal year[19] - Operating cash flow reached $757.2 million for the fiscal year, a decrease of 4%[19] Regional Performance - North America net sales increased by 25% in Q4 FY22, with an adjusted EBIT margin of 29.7%[22] Full year net sales reached $2,551.3 million[28] - APAC net sales increased by 23% in Q4 FY22 to A$200.5 million, driven by price/mix and volume growth, with an adjusted EBIT of A$52.8 million[23] Full year net sales reached A$777.7 million[23] - Europe net sales increased by 10% in Q4 FY22 to €115.0 million, underpinned by a strong price/mix of 14%, with adjusted EBIT margin at 14%[25] Full year net sales reached €420.5 million[25] FY23 Guidance - The company projects net sales growth of 18-22% versus FY22[34] - The company anticipates an adjusted EBIT margin of 30-33%[35] - Management reaffirms full year FY23 Adjusted Net Income guidance of between $740 million and $820 million, a 26% increase at the mid point relative to FY22[36] Asbestos-Related Liabilities - The undiscounted and uninflated estimate of asbestos liabilities increased from A$1,352 million to A$1,390 million[52] - Total contributions of $248.5 million were made to AICF during FY2022[52] - AICF had A$349.7 million in cash and investments as of 31 March 2022[52]