HEN3 Henkel AG & Co KGAA

   By Giulia Petroni 
 

Henkel has raised its outlook for the full year after sales and earnings increased in the first half despite a persistently challenging environment characterized by high material and logistic prices.

The German chemicals and consumer-goods company on Thursday said it expects sales to grow between 2.5% and 4.5% organically in 2023 compared to previous expectations of between 1% and 3%.

The adjusted earnings before interest and taxes margin is seen at between 11% and 12.5% from previously 10%-12%, while adjusted earnings per preferred shares are expected to increase 5% to 20% at constant exchange rates from between minus 10% and 10% previously.

For the first six months of the year, Henkel reported EBIT of 864 million euros ($948.1 million) from EUR684 million in the year-earlier period. Adjusted EBIT rose 7.6% to EUR1.25 billion, while the adjusted EBIT margin increased by 80 basis points to 11.5%.

Sales came in at EUR10.93 billion, registering an organic growth of 4.9% on year.

"We achieved very strong growth in both business units," said Chief Executive Carsten Knobel. "At the same time, we succeeded in significantly improving our earnings despite the continuing headwinds from high material and logistic prices."

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

August 10, 2023 02:04 ET (06:04 GMT)

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