Henkel raises sales and earnings outlook for 2024

The Management Board of Henkel AG & Co. KGaA recently decided to raise the outlook for the current financial year, which was published at the beginning of March. The raise comes in the wake of the company's good business performance in the year to date and the assumptions for the remainder of the year. Expectations for both Henkel's sales and earnings performance were raised, including organic sales growth is now projected at 2.5 to 4.5 per cent (previously: 2.0 to 4.0 per cent) whereas adhesive technologies: 2.0 to 4.0 per cent (unchanged). Consumer Brands is estimated to increase in the range of 3.0 to 5.0 per cent (previously: 2.0 to 4.0 percent). The adjusted return on sales is estimated to accelerate in the range of 13.0 to 14.0 per cent (previously: 12.0 to 13.5 per cent). The growth in Adhesive Technologies may range from 16.0 to 17.0 per cent (previously: 15.0 to 16.5 percent). Consumer Brands are likely to grow in the range of 12.0 to 13.0 per cent (previously: 11.0 to 12.5 percent). The growth in adjusted earnings per preferred share (EPS) is projected to increase in the range of +15.0 to +25.0 per cent at constant exchange rates (previously: +5.0 to +20.0 per cent).

"The very good start to the year and today's increase in the full-year outlook demonstrate very clearly that we are on the right track with our growth agenda. We have always pointed out that we want to deliver. And that is what we are doing. The changes initiated in both business units are showing clear results", said Carsten Knobel, CEO of Henkel.

Based on preliminary figures, Henkel generated Group sales of around 5.3 billion euros in the first quarter of 2024, achieving strong organic sales growth of 3.0 per cent. The Adhesive Technologies business unit recorded sales of around 2.7 billion euros and positive organic sales growth of 1.3 per cent. The Consumer Brands business unit achieved sales of 2.6 billion euros and very strong organic sales growth of 5.2 per cent. Henkel will report further details on the sales development in the first quarter on May 8.