Henkel Cuts Full-Year Growth Outlook; 2Q Earnings Fell
13 August 2019 - 08:05AM
Dow Jones News
By Anthony Shevlin
Henkel AG & Co. KGaA (HEN.XE) said Tuesday that earnings in
the second quarter fell due to a decline in key industries such as
automotive, and cut its growth outlook for the full year.
The maker of Dial soap and Purex laundry detergent said earnings
before interest and taxes cam to 756 million euros ($847.1 million)
compared with EUR814 million the year prior.
Sales for the period were EUR5.12 billion, down from EUR5.14
billion last year.
The company's EBIT margin was 14.8%, it said.
Henkel cut its full-year organic growth expectations and now
sees growth at between 0% and 2%. The company previously forecast
organic growth between 2% and 4%.
Henkel cut its growth outlook as it doesn't expect industrial
demand to increase in the second half, it said. Furthermore, the
company said its beauty-care business is set to develop below
initial expectations.
Henkel continues to expect an adjusted return on sales in the
range of 16% to 17%
Write to Anthony Shevlin at anthony.shevlin@dowjones.com;
@anthony_shevlin
(END) Dow Jones Newswires
August 13, 2019 01:50 ET (05:50 GMT)
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