This represents a new all-time high for quarterly sales and equates to double-digit organic growth of +11.3 percent, driven by double-digit price developments in all business units and across all regions. Volumes were down overall year on year due to the consumer businesses. In nominal terms, sales grew by +17.3 percent.
'In a market environment that remains extraordinarily challenging, we continued to drive our strategy execution and achieved clear double-digit sales growth. It is particularly gratifying that all business units and regions contributed to this strong business performance, which was driven, in particular, by the clear double-digit increase in sales achieved by the Adhesive Technologies business unit in the third quarter,' said
'The double-digit sales growth in the third quarter is further proof of the strength of our robust and balanced portfolio of successful brands and innovative technologies. In addition, we have consistently driven forward the implementation of our portfolio optimization measures, continued our strict cost management and worked on further efficiency improvements. Moreover, as we merge our two consumer businesses, we are ahead of our planned schedule in implementing the new structures. This strong performance is the achievement of our global team whose outstanding commitment is critical to the long-term success of
The Beauty Care business unit achieved positive organic sales growth in the third quarter, despite implementing the announced portfolio measures. Both the Professional and Consumer business areas contributed to this performance.
The Laundry & Home Care business unit generated significant organic sales growth, driven mainly by the Laundry Care business area.
In regional terms, sales increased organically in all regions in the third quarter. The Group's strong sales performance was mainly driven by the emerging markets, where all regions showed double-digit organic growth rates.
Looking ahead to the rest of fiscal 2022, Knobel commented: 'We are operating in a business environment which is characterized by a high degree of volatility and uncertainty. In this overall inflationary environment with increased raw material and energy costs, we delivered a strong business performance in the first nine months. Against this background, we are raising our full year 2022 guidance for sales and earnings.'
At Group level,
Group sales performance
In the third quarter of 2022, Group sales increased nominally by +17.3 percent to
In the first nine months of 2022, sales increased nominally by +12.5 percent to
The emerging markets posted double-digit organic sales growth of +18.6 percent in the third quarter. The mature markets recorded organic sales growth of +5.6 percent. Sales in the
In the first nine months of 2022, organic sales growth in the emerging markets amounted to +14.8 percent, while the mature markets recorded an increase of +5.5 percent.
Sales performance Adhesive Technologies
Sales in the Adhesive Technologies business unit increased nominally by +22.6 percent to
In the first nine months of 2022, the Adhesive Technologies business unit increased sales nominally by +17.6 percent to
From a regional perspective, the sales growth generated by Adhesive Technologies in the emerging markets compared to the third quarter of the prior year was in the double digits. This performance was driven by double-digit increases in all regions, with particular contributions from the Packaging & Consumer Goods and Automotive & Metal business areas.
The mature markets also achieved double-digit organic sales growth in all regions. Within the regions of
Sales performance
In the third quarter of 2022, sales in the Beauty Care business unit increased nominally by +8.4 percent to
In the first nine months of 2022, sales in the Beauty Care business unit were nominally up +2.9 percent year on year, at
In the Consumer business area, we recorded positive organic sales growth in the third quarter of 2022 - driven by double-digit price increases which more than offset the declining volumes resulting from the implementation of the announced portfolio measures and demand elasticity. Overall, the Hair Cosmetics category recorded very strong organic sales growth, to which all businesses contributed. The Hair Styling business generated double-digit organic sales growth, thus continuing the recovery of recent quarters following the pandemic-related decline. Organic sales performance was strong in both the Hair Colorants and Hair Care businesses, driven in particular by the emerging markets. Sales performance in the Body Care category was down year on year, mainly due to the announced portfolio optimization measures.
In the third quarter, the Professional business area was able to build on its strong performance in the first half of the year and showed good organic sales growth, driven in particular by a double-digit increase in the emerging markets.
Sales growth in the emerging markets was significant in the third quarter. All regions contributed to this performance - with the exception of the
Organic sales performance in the mature markets was down overall year on year, due in particular to a decline in
Sales performance Laundry & Home Care
The Laundry & Home Care business unit generated sales of
In the first nine months of 2022, the Laundry & Home Care business unit recorded a nominal increase in sales of +8.9 percent to
The Laundry Care business area recorded double-digit organic sales growth in the third quarter of 2022 that was driven in particular by the double-digit increase in the heavy-duty detergents and specialty detergents categories. Our core brands Persil, 'all and Perwoll each achieved double-digit growth.
Organic sales performance in the Home Care business area was flat overall in the third quarter, attributable in particular to the continued strong performance of our dishwashing products with our brand families Pril and Somat. In contrast, sales performance in the hard surface cleaners and toilet cleaners categories was negative due to demand for hygiene products returning to normal following the increase in the prior-year period in response to the COVID-19 pandemic.
In the emerging markets, we achieved double-digit organic sales growth in the third quarter. The
The mature markets showed good organic sales growth overall in the third quarter. Organic sales growth was good in the
Net assets and financial position of the Group
No substantial changes to the net assets and financial position of the Group occurred in the period under review compared to the situation as at
Outlook for the
Based on the business development in the first nine months of 2022 and assumptions regarding progress to the end of the fiscal year, the Management Board of
We now expect organic sales growth at Group level of +7.0 to +8.0 percent in fiscal 2022 (previously: +5.5 to +7.5 percent).
For the Adhesive Technologies business unit, we now anticipate organic sales growth in the range of +11.0 to +12.0 percent (previously: +10.0 to +12.0 percent). For the Beauty Care business unit, we now expect organic sales development of -1.0 to 0.0 percent (previously: -3.0 to -1.0 percent), with performance mainly being impacted by the implementation of the already announced portfolio measures. For the Laundry & Home Care business unit, we now expect organic sales growth in the range of +5.5 to +6.5 percent (previously: +4.0 to +6.0 percent).
We now expect the
For adjusted earnings per preferred share (EPS) at constant exchange rates, we now expect a decline in the range of -25 to -15 percent (previously: -35 to -15 percent).
In addition, we have the following expectations for 2022: Restructuring expenses in the range of 450 to
Cash outflows for investments in property, plant and equipment and intangible assets of around
The guidance continues to be based on the assumptions that there will be no new wide-spread pandemic-related business and production closures in industry and retail and that the effects of the war in
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This document includes supplemental financial indicators that are not clearly defined in the applicable financial reporting framework and that are or may be alternative performance indicators. These supple-mental financial measures should not be viewed in isolation or as alternatives to measures of
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