Henkel AG announced a quarterly increase in sales, although ongoing issues in raw materials and supply have led it to now expect profits to be at the bottom of the estimate.
The German consumer goods company stressed that sales increased 1.9% to 5.09 billion euros, and increased 3.5% on an organic basis, mainly thanks to the Adhesive Technologies department.
Sales were in line with estimates and exceeded estimates for the increase in organic sales (2.6%), according to analyst estimates.
The company stressed that demand in consumer activities continued to normalize, and that there was a continuous recovery in industrial production activities.
Henkel confirmed the estimates for 2021 for organic growth 6% -8%, but stressed that the margin before adjusted taxes and interest for the year and adjusted earnings per share, would be lower than the previous estimates, due to additional negative effects. from the increased cost of raw materials and transport.
The margin of the adjusted EBIT for the whole year is now expected at 13.5% with the increase of the adjusted earnings per share, at the highest point of the estimates for a high single-digit increase.
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Source From: Capital
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