Henkel lowers sales outlook for 2023 amid rising costs and uncertainties

Henkel lowers sales outlook for 2023 amid rising costs and uncertainties

The company also said it expects its adjusted earnings before interest and taxes (EBIT) margin to be between 10.0 and 12.0 percent, compared with the previous guidance of 11.0 to 12.5 percent. The company said it will continue to implement price increases and efficiency measures to mitigate the cost pressures, but warned that the full impact of these actions will only be visible in the second half of the year.

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Henkel’s revised outlook came after it reported a 5.8 percent decline in nominal sales to 5.3 billion euros in the fourth quarter of 2023, mainly due to negative currency effects. Organic sales growth, which excludes currency and acquisition effects, was 3.2 percent, driven by strong pricing. Adjusted EBIT fell by 9.6 percent to 545 million euros, while adjusted EBIT margin dropped by 0.8 percentage points to 10.3 percent.

Henkel’s CEO Carsten Knobel said that the company delivered a “solid performance” in the fourth quarter, despite the challenging market environment. He added that the company made good progress in implementing its strategic growth agenda, which focuses on strengthening its core businesses, expanding its portfolio, and enhancing its sustainability and digitalization capabilities.

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Source : The Wall Street Journal

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