Henkel raises 2022 forecasts thanks to flourishing adhesives business
2:59 am Tuesday, November 08th, 2022
BERLIN (Reuters) – Germany’s Henkel on Tuesday increased its full-year sales and profit guidance after reporting a 17% sales increase to 5.98 billion euros ($5.98 billion) in the third quarter, which was helped by price increases for its adhesives products.
The adhesives unit reported sales growth of 22.6% in the July-September period and contributed half of group sales.
The chemical and consumer goods company said it now expects organic sales growth of seven to eight percent after previously forecasting an increase of 5.5-7.5%. Adjusted return on sales is now forecast to be at 10-11% this year instead of 9-11%.
Henkel is currently undergoing a restructuring, with Chief Executive Carsten Knobel merging the cosmetics business with the detergents division.
($1 = 1.0002 euros)
(Reporting by Kirsti Knolle; Editing by Paul Carrel)
