Henkel Raises Guidance on Consumer Business Strength
By Adria Calatayud
Henkel raised its earnings guidance for 2024 thanks to first-half results that beat forecasts and to higher profit expectations for its consumer brands unit.
The German chemical and consumer-goods company, which owns brands including Persil and Schwarzkopf, said Wednesday that it expects adjusted earnings per share to grow by between 20% and 30% this year at constant exchange rates, up from its previous forecast of 15% to 25%.
Adjusted return on sales is now forecast at 13.5% to 14.5%, up from previous expectations of between 13% and 14%, the company said.
For the first half, Henkel's adjusted operating profit rose 28% to 1.61 billion euros ($1.75 billion) on sales that grew 2.9% organically to EUR10.81 billion, it said.
Earnings per share were EUR2.78, up 33% at constant currency.
Henkel shares at 1220 GMT traded 2.5% higher at EUR83.48.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
July 17, 2024 08:40 ET (12:40 GMT)
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