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2003 Annual Report
| Sharp Focus, Record Results |
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| (Dollars in Millions, except per share amounts) |
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| |
2003 |
2002 |
Change |
 |
| Unit Volume |
|
|
+3.5% |
 |
| Worldwide Sales |
$9,903.4 |
$9,294.3 |
+6.5% |
| Gross Profit Margin |
55.0% |
54.6% |
+40 basis points |
| Operating Profit |
$2,166.0 |
$2,013.1 |
+8% |
| Operating Profit Margin |
21.9% |
21.7% |
+20 basis points |
| |
| Net Income |
$1,421.3 |
$1,288.3 |
+10% |
| Percent to Sales |
14.4% |
13.9% |
+50 basis points |
| |
| Earnings Per Share, Diluted |
$2.46 |
$2.19 |
+12% |
| |
| Dividends Paid Per Share |
$.90 |
$.72 |
+25% |
| |
| Operating Cash Flow |
$1,767.7 |
$1,611.2 |
+10% |
| Percent to Sales |
17.8% |
17.3% |
+50 basis points |
| |
| Return on Capital |
38.0% |
34.6% |
+340 basis points |
| |
Number of Registered Common Shareholders |
37,700 |
38,800 |
–3% |
| |
| Number of Common Shares Outstanding (in millions) |
534 |
536 |
—% |
| |
| Year-end Stock Price |
$50.05 |
$52.43 |
–5% |
- Every operating division participated in the healthy 3.5% unit volume growth.
- Worldwide sales rose 6.5%, the fastest growth rate in eight years.
- Colgate achieved its eighth consecutive year of double-digit earnings per share growth.
- Operating cash flow grew 10% to another all-time record level of $1,768 million for the year.
- All key profitability indicators set new records: sales, gross profit margin, operating profit, operating profit margin, net income and return on capital.
- The quarterly dividend rate was increased by 33% in 2003.
Growth Highlights of Five Divisions (% of sales)


About Colgate
Colgate-Palmolive is a $9.9 billion global company serving people in more than 200 countries and territories with consumer products that make lives healthier and more enjoyable. The Company focuses on strong global brands in its core businesses — Oral Care, Personal Care, Household Surface Care, Fabric Care and Pet Nutrition. Colgate is delivering strong global growth by following a tightly defined strategy to increase market leadership positions for key products, such as toothpaste, toothbrushes, bar and liquid soaps, deodorants/ antiperspirants, dishwashing detergents, household cleaners, fabric conditioners and specialty pet food.
Highlights
Theme
Dear Colgate Shareholder
Colgate's Corporate Governance Commitment
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Dynamic 2003 Annual Report
Download 2003 Annual Report -pdf
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