Mission Statement, Vision, & Core Values (2024) of Nordson Corporation (NDSN).

An Overview of Nordson Corporation (NDSN)

General Overview of Nordson Corporation

Nordson Corporation, incorporated in 1954 and headquartered in Westlake, Ohio, is a global leader in precision dispensing, testing, and curing solutions. The company operates through a network of direct operations in over 35 countries and employs approximately 7,700 people worldwide. Nordson manufactures products in facilities located in the United States, China, Germany, Ireland, Israel, Italy, Mexico, the Netherlands, and the United Kingdom.

The company's product offerings include:

• Industrial Precision Solutions
• Medical and Fluid Solutions
• Advanced Technology Solutions

As of 2024, Nordson's sales reached approximately $2.62 billion, reflecting a diversified portfolio and a robust market presence across various sectors, including packaging, medical, and electronics.

Company's Financial Performance in Latest Financial Reports

For the nine months ended July 31, 2024, Nordson reported:

• Net income: $345,116, or $5.99 per diluted share
• Operating profit: $495,109
• Worldwide sales: $1,945,439, an increase of 1.9% from $1,909,319 in the comparable period of 2023
• Gross profit margin: 55.7%, up from 54.5% in the same period of 2023

Key segment performances include:

For the three months ended July 31, 2024, the company recorded:

• Net income: $117,327, or $2.04 per diluted share
• Sales: $661,604, a 2.0% increase from $648,677 in the same period of 2023
• Operating profit: $167,058

Introduction to Company as a Leader in the Industry

Nordson Corporation is recognized as one of the leading companies in its industry, consistently driving innovation and maintaining a strong market presence. The company's focus on precision technology and customer-centric solutions has positioned it favorably against competitors. With a strategic emphasis on operational efficiency and product development, Nordson continues to expand its capabilities and enhance shareholder value.

For more insights on Nordson's strategies and industry positioning, further details can be found in the sections below.

Mission Statement of Nordson Corporation (NDSN)

Mission Statement Overview

The mission statement of Nordson Corporation emphasizes its commitment to providing high-quality products and services that enhance customer success. As of 2024, the company continues to align its operations with this mission, focusing on innovation, customer satisfaction, and operational excellence. This mission is critical in guiding the company's long-term strategic goals and ensuring a unified direction across its global operations.

Core Component 1: Customer Commitment

Nordson Corporation prioritizes its customers by delivering exceptional value through high-quality products and services. This commitment is reflected in its 2024 sales figures, which indicate a worldwide sales increase of 1.9% for the nine months ended July 31, 2024, totaling $1,945,439 compared to $1,909,319 for the same period in 2023. The company’s focus on customer needs drives innovation and product development, ensuring that solutions are tailored to meet specific industry requirements.

Core Component 2: Innovation and Quality

Innovation is a cornerstone of Nordson's mission, driving the development of new technologies and solutions. The company's investment in research and development is substantial, with a focus on enhancing product performance and expanding its offerings. For the nine months ended July 31, 2024, Nordson reported an operating profit of $495,109, reflecting a commitment to maintaining high standards of quality and efficiency in its manufacturing processes.

Core Component 3: Operational Excellence

Operational excellence is integral to Nordson's mission statement, emphasizing efficiency and effectiveness in all business operations. The company's gross profit margin improved to 55.7% in the nine months ended July 31, 2024, up from 54.5% in the same period of 2023. This improvement is attributed to enhanced manufacturing efficiencies and a favorable product mix, showcasing Nordson's dedication to operational excellence and its impact on financial performance.

Vision Statement of Nordson Corporation (NDSN)

Vision Statement Overview

The vision statement of Nordson Corporation emphasizes innovation, customer satisfaction, and global leadership in its sectors. As of 2024, Nordson aims to enhance its product offerings and expand its market presence while maintaining strong values centered around quality and integrity.

Innovation

Nordson Corporation's commitment to innovation is evident in its significant investment in research and development. For the fiscal year 2024, Nordson allocated approximately $78 million to R&D, reflecting a strategic focus on advancing technology across its product lines.

Customer Satisfaction

The company's vision prioritizes customer satisfaction, which is supported by its diverse product portfolio. Nordson reported sales of $661.6 million for the three months ended July 31, 2024, marking a 2% increase from the previous year. This growth is attributed to enhanced customer service and product reliability, with a gross profit margin of 55.8%.

Global Leadership

Nordson aims for global leadership in its industry. The company operates in over 35 countries and employs approximately 7,700 people worldwide. In the nine months ending July 31, 2024, Nordson's total sales reached $1.94 billion, an increase of 1.9% from the prior year, showcasing its robust international presence and operational effectiveness.

Commitment to Quality

Nordson's vision includes a strong commitment to quality in its products. The company maintains rigorous quality assurance processes, which have helped it achieve high customer loyalty and retention rates. This focus on quality is reflected in the operating profit margin of 25.3% for Q3 2024, a slight decrease from 26.4% in Q3 2023, primarily due to increased costs associated with acquisitions.

Integrity and Ethics

Lastly, Nordson emphasizes integrity and ethics in its operations. The company adheres to strict compliance standards and ethical practices in all its global operations, fostering trust among its stakeholders. This ethical commitment is integral to its vision, enabling sustainable growth and long-term success.

Core Values of Nordson Corporation (NDSN)

Core Value: Integrity

The core value of Integrity at Nordson Corporation signifies the importance of ethical behavior and accountability in all business dealings. This value is fundamental to maintaining trust with customers, partners, and employees.

Nordson demonstrates its commitment to integrity through various initiatives, including strict compliance programs and ethical training for employees. In 2024, Nordson implemented a new compliance training program that reached 100% of its employees globally, ensuring that all staff are aware of legal and ethical standards. This program focuses on anti-corruption, data protection, and fair competition practices.

Core Value: Innovation

Innovation is a cornerstone of Nordson's operations, driving the development of advanced technologies and solutions. Nordson invests approximately 6% of its revenue into research and development activities annually, which amounted to $116.73 million in the fiscal year ending October 31, 2023.

In 2024, Nordson launched several new products, including advanced dispensing systems for the packaging industry, which contributed to an organic sales growth of 3.6% in the Industrial Precision Solutions segment. This focus on innovation positions Nordson as a leader in its market, enabling the company to meet evolving customer needs.

Core Value: Customer Commitment

Nordson prioritizes Customer Commitment, emphasizing the importance of understanding and responding to customer needs. The company conducts regular customer satisfaction surveys, achieving an average satisfaction score of 4.8 out of 5 in 2024.

To enhance customer service, Nordson introduced a new customer support platform that provides real-time assistance and resources. This platform has resulted in a 20% decrease in response times to customer inquiries. The company’s dedication to customer service is a significant factor in its strong client retention rates and overall business success.

Core Value: Sustainability

Nordson's commitment to Sustainability reflects its focus on environmental stewardship and social responsibility. The company has set ambitious sustainability goals, aiming to reduce greenhouse gas emissions by 25% by 2025 from a 2020 baseline.

In 2024, Nordson achieved a 15% reduction in emissions through energy efficiency initiatives and the adoption of renewable energy sources in its manufacturing facilities. Additionally, the company has increased its use of recycled materials in product packaging by 30%. These efforts demonstrate Nordson's proactive approach to sustainability and its impact on the industry.

Core Value: Respect

The value of Respect at Nordson encompasses fostering an inclusive workplace and valuing diversity. In 2024, Nordson launched new diversity and inclusion training programs that reached all employees, promoting a culture of respect and collaboration.

The company's workforce consists of approximately 7,700 employees globally, with initiatives aimed at increasing representation of underrepresented groups in leadership roles by 15% over the next five years. This commitment to respect not only enhances employee morale but also drives innovation and performance.