Henkel Reports Rise in 1Q Sales as Prices Rose, Volumes Fell
04 Mai 2023 - 8:34AM
Dow Jones News
By Pierre Bertrand
Henkel said Thursday that sales grew in the first quarter,
driven by double-digit prices, but that volumes declined to below
the prior-year level.
The German consumer-goods company reported sales of 5.61 billion
euros ($6.21 billion), a 6.4% increase compared with EUR5.27
billion a year prior. Quarterly sales grew 6.6% organically.
Analysts had expected sales to grow 5% organically to EUR5.46
billion.
At a divisional level, the company's adhesive technologies unit
saw first-quarter sales increase 6.1% to EUR2.79 billion. It said
that result reflected price increases in the double-digit
percentage range, while volumes declined below the level of the
prior-year quarter.
Meanwhile, at Henkel's recently-formed consumer brands unit,
quarterly sales increased 7.3% to EUR2.77 billion, it too driven by
a double-digit increase in prices. Volumes declined partly due to
portfolio optimization measures.
Henkel, which agreed last month to sell its Russian activities
for around EUR600 million, said that that transaction was now
completed. It added that it confirms its 2023 outlook.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
May 04, 2023 02:19 ET (06:19 GMT)
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