HENKEL AG & CO. KGAA

(HEN3)
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Delayed Xetra  -  11:43 2022-08-08 am EDT
64.74 EUR   +1.44%
05:37aHENKEL AG & CO. KGAA : Release of a capital market information
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08/04HENKEL VORZUEGE : Bernstein reaffirms its Neutral rating
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08/01HENKEL AG & CO. KGAA : Release of a capital market information
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Henkel Shares Tumble After Cutting 2022 Earnings Margin Outlook

04/29/2022 | 04:00am EDT

By Ed Frankl and Joshua Kirby

Henkel AG shares dived Friday after it said it expects a lower earnings margin this year, as raw-material prices surge on the war in Ukraine.

Shares were down 8.0% to EUR58.12 at 0730 GMT.

The German consumer-goods company now expects an adjusted earnings before interest and taxes margin of 9%-11%, from 11.5%-13.5% previously.

Full-year adjusted earnings per share is now expected to decline 15%-35%, from between a positive rise of 5% and a decline of 15% previously, Henkel said.

The new outlook is due to rising raw-material prices and higher logistics costs stemming from the Russia-Ukraine war, as well as the effects of exiting operations in Russia and Belarus following the invasion, the Dusseldorf-based company said.

"Due to these developments, we now expect significantly higher pressure on our earnings for the rest of the year than at the beginning of the year," Chief Executive Carsten Knobel said.

The company now sees additional raw-material costs for the full year at around 2 billion euros ($2.10 billion), twice as much as had been assumed at the end of January.

The company nevertheless said it expects higher sales growth for the year than previously targeted, after first-quarter sales rose on higher prices and with a slight decline in volumes, it said.

According to preliminary figures, the company's sales rose by 7.1% to around EUR5.3 billion in the quarter.

Henkel said it is now aiming for full-year organic growth between 3.5% and 5.5% in fiscal 2022, compared with a previous targeted range of 2% to 4%.

The company will set out full first-quarter results on May 5.


Write to Ed Frankl at edward.frankl@dowjones.com


(END) Dow Jones Newswires

04-29-22 0356ET

Stocks mentioned in the article
ChangeLast1st jan.
HENKEL AG & CO. KGAA 1.44% 64.74 Delayed Quote.-10.29%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 1.01% 61.125 Delayed Quote.-18.87%
All news about HENKEL AG & CO. KGAA
05:37aHENKEL AG & CO. KGAA : Release of a capital market information
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08/04HENKEL VORZUEGE : Bernstein reaffirms its Neutral rating
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07/19HENKEL VORZUEGE : Berenberg lowers its rating to Sell
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07/15HENKEL VORZUEGE : Gets a Neutral rating from Goldman Sachs
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Analyst Recommendations on HENKEL AG & CO. KGAA
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Financials
Sales 2022 21 261 M 21 728 M 21 728 M
Net income 2022 1 268 M 1 296 M 1 296 M
Net Debt 2022 949 M 970 M 970 M
P/E ratio 2022 21,4x
Yield 2022 2,85%
Capitalization 27 238 M 27 836 M 27 836 M
EV / Sales 2022 1,33x
EV / Sales 2023 1,27x
Nbr of Employees 52 450
Free-Float 62,6%
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Consensus
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Mean consensus HOLD
Number of Analysts 23
Last Close Price 64,74 €
Average target price 66,60 €
Spread / Average Target 2,87%
EPS Revisions
Managers and Directors
Carsten Knobel Chairman-Management Board
Marco Swoboda Chief Financial Officer & Executive VP-Finance
Simone Bagel-Trah Member-Supervisory Board
Thomas Gerd Kuehn Chief Compliance Officer & General Counsel
Michael Kaschke Member-Supervisory Board