Henkel AG & Co. KGaA (HENOY.PK,HENKY.PK), a German chemical and consumer goods firm, reported that group sales for the third quarter of increased nominally by 17.3 percent to 5.98 billion euros. Organic sales, which adjusted for foreign exchange and acquisitions/divestments, for the quarter increased by 11.3 percent. The increase was driven by price, while volume developments differed among the business units. Acquisitions and divestments reduced sales by 0.6 percent. By contrast, foreign exchange effects had a positive impact of +6.6 percent on sales.
Sales in the Adhesive Technologies business unit increased nominally by 22.6 percent to 2.995 billion euros in the third quarter of 2022. Organically, sales grew by 16.8 percent.
In the third quarter of 2022, sales in the Beauty Care business unit increased nominally by 8.4 percent to 1.013 billion euros. Organically, sales were up 0.9 percent compared to the prior-year level.
The Laundry & Home Care business unit generated sales of 1.902 billion euros in the third quarter of 2022, equivalent to a nominal increase of 13.2 percent compared to the prior-year quarter.
The company raised its full year 2022 guidance for sales and earnings.
The company now expects organic sales growth at Group level of 7.0 percent to 8.0 percent in fiscal 2022 compared to the previous projection of 5.5 percent to 7.5 percent growth.
For adjusted earnings per preferred share at constant exchange rates, the company now expects a decline in the range of 15 percent to 25 percent compared to the prior outlook -15 percent to -35 percent.
The company now expects annual adjusted return on sales (EBIT margin) to be in the range of 10.0 to 11.0 percent compared to the prior outlook of 9.0 to 11.0 percent.
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