Henkel Q1 Group Sales Down 5.2% - Quick Facts

(RTTNews) - Germany-based household and personal products business Henkel AG & Co. KGaA (HENOY) reported that its group sales for the first quarter of 2024 were 5.317 billion euros, a decrease of 5.2 percent from the prior-year quarter, due to the sale of the business activities in Russia and to negative foreign exchange effects.

But Organically sales for the quarter increased by 3.0 percent. The increase was driven by a positive price development.

The company significantly raised its sales and earnings outlook for 2024 last week.

Annual adjusted earnings per preferred share is expected to increase in the range of 15 percent to 25 percent at constant exchange rates. The previous expectation was an increase between 5 percent and 20 percent.

Annual organic sales growth is now expected between 2.5 percent and 4.5 percent versus the 2 percent to 4 percent range expected earlier. Adjusted return on sales is expected between 13 percent and 14 percent versus the 12 percent to 13.5 percent range expected earlier.

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