Henkel 1st Half Sales Rose But Earnings Fell on Increased Prices
August 15 2022 - 2:37AM
Dow Jones News
By Maitane Sardon
Henkel AG & Co. said Monday that sales rose in the first
half of the year but that earnings fell, hurt by increasing
raw-material and logistics prices.
The German chemicals and consumer-goods company posted
first-half earnings before interest and taxes of 684 million euros
($701.7 million) compared with EUR1.30 billion a year earlier. Net
income was EUR447 million, down from EUR942 million, while adjusted
operating profit fell to EUR1.17 billion from EUR1.43 billion.
Henkel said earnings in the first half of the year were hurt by
"the drastic rise in material and logistics prices", which it
couldn't offset by stepping up its pricing initiatives or
implementing cost management measures.
The maker of Persil and Schwarzkopf reported sales for the six
months to the end of June of EUR10.91 billion compared with EUR9.93
billion in the prior-year period, with the rise driven by a good
performance across all business regions and units, it said.
The German company backed its previously given guidance for
adjusted operating margin in the full fiscal year but lifted its
sales growth forecast. It said it still sees an adjusted operating
margin of 9%-11% for the year but it now sees organic sales growth
at between 4.5% and 6.5% in fiscal 2022, compared with a previous
targeted range of between 3.5% and 5.5% in 2022.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
August 15, 2022 02:22 ET (06:22 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Henkel AG and Company KGAA (PK) (USOTC:HENKY)
Historical Stock Chart
From Apr 2024 to May 2024
Henkel AG and Company KGAA (PK) (USOTC:HENKY)
Historical Stock Chart
From May 2023 to May 2024