FRANKFURT (dpa-AFX) - Henkel 's preference shares fell sharply on Monday after the consumer goods and adhesives manufacturer's statements during the conference call. It was mainly details on the targets for the new year that were not well received by the market when the annual figures were presented.

After initial gains, the shares fell by 4.6 percent to 67.16 euros at the end of the Dax at midday and have now lost almost 8 percent since the beginning of the year. Shortly before, Henkel shares had fallen to their lowest level since October at 66.86 euros. In mid-January, they were still trading at just under 75 euros.

One trader pointed to stronger headwinds from currency effects than previously assumed as the main reason for this Monday's share price losses. Although the management had spoken of a strong start to the first two months of the new year, it had also spoken of pressure from exchange rate changes.

In terms of turnover, the effect is likely to be in the mid single-digit percentage range. The impact on profits is likely to be even more noticeable. The trader therefore concluded that earnings per share (EPS) could either remain stable or increase by a mid-range percentage. So far, Henkel has assumed an increase of five to 20 percent. The analysts' average EPS estimate (consensus) for the current year is likely to fall accordingly.

Analyst Olivier Nicolai from Goldman Sachs commented that the figures for 2023 are in line with expectations. Based on the middle of the forecast range, the outlook is basically optimistic. However, an unfavorable exchange rate development overshadows this and throws a spanner in the works./ck/ngu/stk