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MarketScreener Homepage  >  Equities  >  Xetra  >  Henkel AG & Co. KGaA    HEN3   DE0006048432

HENKEL AG & CO. KGAA

(HEN3)
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Henkel : Neste Corporation - Borealis producing certified renewable polypropylene from Neste's renewable propane at own facilities in Belgium

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03/11/2020 | 09:53am EDT

Borealis has started to produce polypropylene (PP) based on Neste-produced renewable feedstock in its production facilities in Kallo and Beringen, Belgium.

This marks the first time that Borealis has replaced fossil fuel-based feedstock in its large-scale commercial production of PP. The Belgian plants were recently awarded by the International Sustainability and Carbon Certification (ISCC) organization with ISCC Plus certification for its renewable PP. Taking its commitment to the next level for advancing the circular economy, Borealis once again furthers its EverMinds ambitions. This path breaking venture in sustainable production is being driven in close collaboration with upstream and downstream value chain partners such as Neste and Henkel. It also aligns with the Borealis' aim to ensure that 100% of its consumer products are recyclable, reusable, or produced from renewable sources by 2025.

Value chain collaboration under the flag of greater circularity

Borealis and its upstream partner Neste are moving the industry closer to a circular economy of plastics thanks to the production start in December 2019 of renewable PP. After producing renewable propane using its proprietary NEXBTL technology, Neste sells the renewable propane to the Borealis propane dehydrogenation plant in Kallo. Here it is converted to renewable propylene, then subsequently to renewable PP at Kallo and Beringen plants.

The recently finalized audits carried out by an independent third party have resulted in an ISCC Plus certification for the renewable PP produced at both Kallo and Beringen plants. This certification encompasses the entire value chain scope and verifies that the renewable feedstock used is certified as being 100% renewable and sustainably produced, including traceability to point of origin.

Downstream partners from a variety of industries such as consumer packaging, automotive, healthcare, and appliance industries can now commercialize their end-use products with a lower carbon footprint based on renewable propylene and PP produced at Borealis' Belgian plants. In response to increasing demand, Borealis is working with value chain partners to expand availability.

Henkel, a global market leader in the adhesives sector and known for its strong brands in Laundry & Home Care and Beauty Care, has already embraced the values of the circular economy. Having made the use of sustainable materials a key pillar in its packaging strategy, Henkel is committed to work with its value chain partners to drive sustainable packaging solutions. Including renewable PP content in the packaging of a major Henkel brand over the course of the year marks another step in its efforts to significantly reduce its use of fossil fuel-based virgin plastics.

'Producing renewable PP based on renewable feedstock for the first time in history is another concrete step towards a more sustainable carbon future,' says Lucrece Foufopoulos, Borealis Executive Vice President Polyolefins, Innovation and Circular Economy Solutions. 'Working closely with partners like Neste and Henkel, who share our EverMinds mind-set, is key to shaping a better tomorrow. Thinking circular means capitalising on growth opportunities that accelerate the transformation to a circular economy.'

'It is great to see, for the first time in history, a propane dehydrogenation facility using renewable propane to replace fossil feedstock, enabling Borealis to produce mass balance certified renewable polypropylene for sustainability-focused brands like Henkel. This is an exceptional example of collaboration across the value chain making a positive sustainability impact in the polymers sector,' says Mercedes Alonso, Executive Vice President, Renewable Polymers and Chemicals, Neste.

Contact:

Tel: +358 50 458 5076

Neste in brief

Neste (NESTE, Nasdaq Helsinki) creates sustainable solutions for transport, business, and consumer needs. Our wide range of renewable products enable our customers to reduce climate emissions. We are the world's largest producer of renewable diesel refined from waste and residues, introducing renewable solutions also to the aviation and plastics industries. We are also a technologically advanced refiner of high-quality oil products. We want to be a reliable partner with widely valued expertise, research, and sustainable operations. In 2019, Neste's revenue stood at EUR 15.8 billion. In 2020, Neste placed 3rd on the Global 100 list of the most sustainable companies in the world.

Borealis in brief

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With its head office in Vienna, Austria, the company currently has more than 6,900 employees and operates in over 120 countries. Borealis generated EUR 8.1 billion in sales revenue and a net profit of EUR 872 million in 2019. Mubadala, through its holding company, owns 64% of the company, with the remaining 36% belonging to Austria-based OMV, an integrated, international oil and gas company. Borealis provides services and products to customers globally, in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC) and with Baystar, a joint venture with Total and NOVA Chemicals in Texas, USA.

Henkel in brief

Henkel operates globally with a well-balanced and diversified portfolio. The company holds leading positions with its three business units in both industrial and consumer businesses thanks to strong brands, innovations and technologies. Henkel Adhesive Technologies is the global leader in the adhesives market - across all industry segments worldwide. In its Laundry & Home Care and Beauty Care businesses, Henkel holds leading positions in many markets and categories around the world. Founded in 1876, Henkel looks back on more than 140 years of success. In 2019, Henkel reported sales of more than 20 billion euros and adjusted operating profit of more than 3.2 billion euros. Henkel employs more than 52,000 people globally - a passionate and highly diverse team, united by a strong company culture, a common purpose to create sustainable value, and shared values. As a recognized leader in sustainability, Henkel holds top positions in many international indices and rankings. Henkel's preferred shares are listed in the German stock index DAX. www.henkel.com

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (EUR)
Sales 2020 19 250 M
EBIT 2020 2 720 M
Net income 2020 1 642 M
Debt 2020 1 704 M
Yield 2020 2,25%
P/E ratio 2020 19,8x
P/E ratio 2021 17,1x
EV / Sales2020 1,76x
EV / Sales2021 1,65x
Capitalization 32 240 M
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Technical analysis trends HENKEL AG & CO. KGAA
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Mean consensus HOLD
Number of Analysts 25
Average target price 80,44 €
Last Close Price 78,54 €
Spread / Highest target 35,0%
Spread / Average Target 2,41%
Spread / Lowest Target -33,7%
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NameTitle
Carsten Knobel Chief Executive Officer
Simone Bagel-Trah Chairman-Supervisory Board
Marco Swoboda Chief Financial Officer
Michael Kaschke Member-Supervisory Board
Jutta Bernicke Member-Supervisory Board
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