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Henkel AG & Co. KGaA

EANS-News: Henkel AG & Co. KGaA /

Düsseldorf (euro adhoc) -

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Company Information/quarterly report/9-month report
Düsseldorf, November 10, 2010
Henkel reports outstanding third quarter results
CEO Kasper Rorsted: "2010 will be an            important step to achieving our
2012 targets"
• Sales increase by 13.7 percent to 3,961 million euros
    • Organic sales growth of 6.5 percent
    • Share of sales of emerging markets: plus 3 percentage points to 42 percent
    • Adjusted operating profit: plus 27.0 percent to 517 million euros
    • Adjusted EBIT margin: plus 1.3 percentage points to 13.0 percent
    • Adjusted earnings per preferred share (EPS): plus 35.6 percent to 0.80
      euros
"In the third quarter, we further extended our  recent  successes  with  results
even better than the good performance we have shown in recent quarters. This  is
the first quarter that we have ever achieved  an  adjusted  EBIT  margin  of  13
percent," said Kasper Rorsted, Chairman of the Henkel  Management  Board.     "I
would particularly like to emphasize the fact that all our regions and  business
sectors  made  a  positive  contribution  to  this  success  in  a  
persistently challenging environment. Growth was  once  again  given 
major  impetus  by  our strong brands and successful innovations. 
However, the adaptation  of  our  cost structures and further 
progress in the pursuit of our strategic priorities  were also 
important contributory factors."
Looking at the current fiscal year as a  whole,  Rorsted  said:  "We 
expect  to achieve  an  adjusted  EBIT  margin  of  well  above  12.0
percent  for   2010, accompanied by an improvement in adjusted 
earnings per preferred share  of  more than 45 percent. 2010 is 
likely to be the most successful  fiscal  year  in  our corporate 
history, taking us an important step  closer  to  our  2012  
financial targets."
In the third quarter of 2010, Henkel posted sales of 3,961 million 
euros. In  an overall positive  market  environment,  this  
represents  an  increase  of  13.7 percent above the level of the 
prior-year quarter. After adjusting  for  foreign exchange, sales 
improved by 6.4 percent. Organically, i.e. after  adjusting  for 
foreign exchange, acquisitions and divestments, the increase  was  
6.5  percent, representing  another  significant  rise  versus  the  
prior-year  period.  This positive development was  supported  by  
all  the  company´s  business  sectors. Following a slight decline in
organic sales development in  the  second  quarter of   2010,   
Laundry   &   Home   Care   recorded   growth   of   3.4   percent. 
Cosmetics/Toiletries once again substantially outperformed  market  
growth  with an increase of 4.6 percent. With growth of 9.7 percent 
driven by both price  and volumes, Adhesive  Technologies  achieved  
an  almost  double-digit  improvement versus the prior-year quarter.
Operating profit (EBIT) rose by 73.0 percent, from  290  million  
euros  to  501 million euros. This is primarily due to the 
substantial improvement attained  by Adhesive Technologies,  which  
was  able  to  maintain  a  significant  rate  of increase in 
earnings. After allowing for one-time gains (10 million  euros)  and 
restructuring charges (26 million euros), adjusted operating profit 
improved  by 27.0 percent, from 407 million euros to 517 million 
euros.
Return on sales (EBIT margin) increased significantly, from 8.3 
percent to  12.7 percent. Adjusted return on sales rose from 11.7 
percent to 13.0 percent.
The company´s financial result improved from -40 million euros  to  
-37  million euros due to lower net debt. The tax rate was 26.1 
percent.
Thanks to the increase in  EBIT,  net  income  for  the  quarter  
rose  by  90.6 percent, from 180 million euros to  343  million  
euros.  After  deducting  non- controlling interests totaling 6 
million euros, net income for the quarter  came in at 337 million 
euros  (prior-year  quarter:  172  million  euros).   Adjusted 
quarterly net income after non-controlling interests  amounted  to  
349  million euros compared to 256 million euros in the third quarter
of 2009.  Earnings  per preferred share (EPS) doubled from  0.39  
euros  to  0.78  euros.  The  adjusted figure was 0.80 euros compared
to 0.59 euros in the prior-year quarter.
Good progress was also made in the management of net working  
capital.  Compared to the prior-year period, the ratio of net working
capital to sales improved  by 2.5 percentage points, decreasing to 
7.8  percent.  Due  in  particular  to  the substantial rise in net 
income, our debt coverage ratio increased in the  period under review
to close to 56 percent.
Business performance January through September 2010
In the first nine months of fiscal  2010,  Henkel  increased  sales  
versus  the prior-year period by 11.1 percent to 11,363 million euros
within  an  expanding market environment. After adjusting for foreign
exchange, sales improved by  6.6 percent. At 7.3 percent, organic 
sales growth also  came  in  appreciably  above the level of the 
prior-year period. Operating profit (EBIT)  increased  by  70.9 
percent, from 787 million euros to 1,344 million euros. This was  
primarily  due to the substantial improvement  shown  by  the  
Adhesive  Technologies  business sector following the heavy impact it
suffered from the crisis in the first half- year 2009. After allowing
for restructuring charges (104 million euros) and one- time charges 
(9 million euros) and gains (43 million euros), adjusted  operating 
profit improved by 48.8 percent, from 950 million euros to 1,414 
million  euros. Return on sales (EBIT margin) increased 
significantly, from 7.7 percent to  11.8 percent. Adjusted return on 
sales rose from 9.3 percent to 12.4 percent,
Due to the increased EBIT, net income for the nine months almost 
doubled, from 451 million euros to 889 million euros. After deducting
non-controlling minority interests of 20 million euros, net income 
for the period totaled 869 million euros (previous year: 432 million 
euros). Earnings per preferred share (EPS) more than doubled from 
1.00 euros to 2.01 euros, while the adjusted figure rose from 1.27 
euros to 2.13 euros.
Business sector performance in the third quarter
The Laundry & Home Care business sector increased sales by 8.4 
percent to  1,123 million euros. The foreign exchange impact amounted
to a positive  5.4  percent. Strong price and promotional competition
continued  in  all  relevant  markets, leading to a decline in prices
of 5.6 percent compared  to  the  previous  year. However, thanks to 
very strong volume growth of 9.0 percent, organic sales  rose by 3.4 
percent compared to the prior-year quarter. One of the  main  drivers
of the organic sales growth achieved was again the Africa/Middle East
region  which registered a double-digit percentage increase. Western 
Europe  also  recorded  a substantial rise in sales, driven in 
particular by strong business  developments in Germany. Sales in 
North America declined  slightly  in  the  face  of  strong 
competitive pressures. In the other regions, the business  sector  
succeeded  in maintaining the sales levels of the prior-year quarter,
with market share  gains ensuing as a result. Operating profit rose 
by 1.4 percent to 139 million  euros. At 13.6 percent, adjusted 
return on sales was slightly below the high  level  of the prior-year
quarter which was positively influenced by both  a  high  selling 
price level and lower material prices. However, compared to the 
second  quarter, adjusted return on sales improved by more than  one 
percentage  point,  despite continuous pressure on gross margin due 
to further increases in material  prices and still declining selling 
price levels.  In the Laundry business segment,  the strongest growth
momentum was  generated  by  the  heavy-duty  detergents,  with 
Persil  doing  especially  well.  Products  of  the  Weisser  Riese  
brand  also performed very well, particularly the Intensive Color 
powder  and  gel  variants with their active color power.   The  
positive  trend  with  respect  to  fabric softeners continued, 
supported by further innovations.  In Western  Europe,  for example, 
a fabric softener with innovative fresh pearls was launched  under  
the Vernel brand, combining wash-protective properties with 
long-lasting and  drier- resistant fragrances. The continuing  
positive  developments  in  organic  sales registered by the Home 
Care business were further boosted in particular  by  the results 
generated by the company´s dish-washing products.  In the machine  
dish- washing segment, the products Somat 9 and Somat Perfect Gel 
made  an  especially strong contribution to the gratifying 
performance achieved.  Henkel's hand dish- washing products  
experienced  similarly  encouraging  growth  rates.   Positive sales 
momentum was also generated by the WC products business  with  the  
launch of the first WC rim block with four active pearls.
The Cosmetics/Toiletries business  sector  continued  the  excellent 
sales  and profit performance of previous quarters.  With organic 
growth of 4.6 percent  to 845 million euros, it significantly 
exceeded the sales  levels  achieved  in  an already   strong   
prior-year   period.   The   rate   of   growth   posted   by 
Cosmetics/Toiletries was once again above  that  of  the  relevant  
markets  and resulted from strong performance in both the mature  
markets  and  the  emerging economies. The business sector continued 
to generate steady growth  momentum  in Western Europe, while 
developments in North America were stable. Performance  in the growth
regions of Asia (excluding Japan), Africa/Middle East, Latin  America
and Eastern Europe was somewhat above-average, with organic sales 
growth in  the double-digit percentage range right across the board. 
Operating profit rose  by 13.4 percent to 113 million euros,  and  by
7.3  percent  after  adjusting  for foreign exchange. As a result, 
there was also an improvement in return on  sales for this quarter. 
At 13.4 percent, it was 0.4 percentage points above the  level for 
the prior-year quarter. Adjusted  for  restructuring  charges  and  
one-time gains, return on sales rose by an even better  0.6  
percentage  points  to  13.6 percent, representing a new high for the
Cosmetics/Toiletries  business  sector. The Hair Cosmetics segment 
continued to perform very well, expanding its  market share and 
posting record results in all categories. In addition  to  the  
launch of the Schauma Silk  Comb  range,  the  Hair  Care  business  
also  pursued  the relaunch of Gliss Kur Oil Nutritive as one of its 
headline  activities.  In  the Colorants business, the focus was on 
continuing the successful roll-out  of  the Syoss Color line and the 
introduction of the first permanent  foam  colorant  in the form of 
Perfect Mousse. In the Styling category, the relaunch  of  Taft  and 
the new sub-line Taft Ultra with Argon Oil  likewise  contributed  to
the  good results  achieved.  In  the  third  quarter,  the   Body   
Care   business   was characterized by the expansion of the 
innovation offensives at its core  brands. In Western and Eastern 
Europe, the high-performance  deodorant  brand  for  men, Right 
Guard, was able to establish a position for itself in  a  challenging
and competitive environment.  Meanwhile, the focus with respect to  
Fa  was  on  the introduction of the innovative Mystic Moments  
range.   Market  share  in  North America was substantially increased
with the successful launch  of  Right  Guard Total Defense 5. The 
chief activities pursued in the Skin Care  segment  related to the 
launch of the new sub-line  Novagen  under  the  Diadermine  brand.  
The priority in the Oral Care segment was on expanding the successful
Theramed  2in1 series through the inclusion of the innovative Power 
Clean  &  White  line.  The positive growth trend in the  Hair  Salon
subsegment  continued  in  the  third quarter, supported by the 
relaunch of the cross-segment brand  Essensity.  In  a persistently 
difficult market environment, the business was  therefore  able  to 
further consolidate its good market position and gain additional 
market share.
The Adhesive  Technologies  business  sector  succeeded  in  
generating  further profitable growth in the third quarter. Sales 
exceeded the level  of  the  still crisis-affected prior-year quarter
by  a  substantial  19.3  percent,  reaching 1,945 million euros and 
outpacing market growth in all regions.   Organic  sales rose by 9.7 
percent.  With  price  levels  only  slightly  higher,  the  growth 
performance and the market share gains that came with it were largely
driven  by volume  increases.  All  the  businesses  and  regions   
contributed   to   this essentially positive development. The  
emerging  economies  of  Asia  (excluding Japan), Africa/Middle East,
Latin  America  and  Eastern  Europe  continued  to exhibit 
above-average increases in sales, with overall  organic  growth  in  
the double-digit percentage range. There were also substantial  
increases  in  sales in the mature markets of Western Europe  and  
North  America.  Operating  profit tripled compared to the prior-year
quarter,  reaching  a  record  mark  of  268 million  euros.  Return 
on  sales  likewise  increased  significantly  by   8.3 percentage 
points to a new high of 13.8 percent. And  this  development  is  all
the more notable, as rising raw material and packaging prices  in  
this  quarter had a considerably greater adverse effect than in the  
previous  quarters.   The Adhesives for Craftsmen, Consumers and 
Building  segment  continued  to  develop well in all regions. Both 
our business serving craftsmen and consumers  and  our activities  
involving  the  construction  industry  contributed  to  the  growth 
achieved.  Substantial  increases  compared  to  the  prior-year  
quarter   were registered in Latin America and Eastern  Europe.  The 
significant  improvements seen in the Transport and Metal business 
continued  unabated.   Particularly  in Asia-Pacific, Latin America 
and Eastern Europe, the sales  figures  posted  were substantially 
higher than in the prior-year quarter.  Double-digit growth  rates 
were also generated in the regions of  North  America  and  
Europe/Africa/Middle East.  The  General  Industry   segment   also  
continued   to   perform   very encouragingly.  Indeed,  it  was  
here  that  the  strongest  sales  growth  was achieved from within 
the business sector in the period under  review,  with  all regions 
contributing to, in  some  cases,  substantial  double-digit  
percentage revenue growth rates. There  was  also  a  further  
increase  in  sales  in  the Packaging, Consumer Goods  and  
Construction  Adhesives  business,  the  highest growth rates being 
achieved in Asia-Pacific, Latin America and  Western  Europe. The 
Electronics  business  continued  to  benefit  from  the  continuing 
strong recovery taking place in  the  semiconductor  industry.   All 
Henkel´s  regions contributed to the appreciable growth achieved, 
with Europe  and  North  America performing particularly well.
Regional performance
In the Europe/Africa/Middle East  region,  sales  improved  
organically  by  5.3 percent compared to the third quarter  of  2009,
coming  in  at  2,342  million euros, with all three business sectors
contributing. In Africa/Middle  East  and Eastern Europe, organic 
growth was in the high  single-digit  percentage  range. Western 
Europe including Germany posted  an  organic  growth  rate  in  the  
mid single-digits, as it had done in the first two quarters of 2010. 
At 733  million euros, sales of the  North  America  region  grew  
organically  by  4.2  percent compared to the prior-year quarter. 
Sales of the Adhesive Technologies  business sector developed 
particularly well, while sales at Laundry & Home Care  declined 
slightly and those of the Cosmetics/ Toiletries business sector  
remained  flat. Meanwhile, the successful development of  the  Latin 
America  region  continued unabated. Here, organic sales increased by
10.8 percent to  259  million  euros, with all business sectors  
contributing.  In  the  Asia-Pacific  region,  growth remained 
double-digit at 14.9 percent, with  organic  sales  coming  in  at  
579 million euros in the wake of gratifying increases in sales  
posted  by  Adhesive Technologies and Cosmetics/Toiletries. In the 
growth regions of Eastern  Europe, Africa/Middle East, Latin America 
and Asia  (excluding  Japan),  sales  rose  by 20.7 percent to  1,656
million  euros.  Compared  to  the  prior-year  quarter, organic 
growth amounted to 10.1 percent, keeping it in the  double-digit  
range. The increase was supported in particular by higher sales 
generated  by  Adhesive Technologies and Cosmetics/Toiletries.  The 
share of sales attributable  to  the growth regions increased from 39
to 42 percent.
Sales and profits forecast 2010
In view of the economic forecasts for the current year, Henkel 
anticipates  that the world economy will grow by around 3.5 percent.
Henkel is confident of again outperforming its  relevant  markets  in
terms  of organic sales growth. A number of measures have been 
introduced and  implemented on the operational side, from which 
Henkel expects additional positive  momentum to develop. For example,
it anticipates further contributions to profit  arising both from the
synergies created through the integration of the  National  Starch 
businesses  and  from  the  company´s  strictly  disciplined   cost  
management approach. These factors will, together with  the  expected
increase  in  sales, positively influence our  results.  Compared  to
the  levels  in  2009,  Henkel expects the adjusted EBIT margin to  
gratifyingly  increase  to  a  figure  well above 12.0 percent and an
improvement in adjusted earnings per  preferred  share of more than 
45 percent.
This document  contains  forward-looking  statements  which  are  
based  on  the current estimates and assumptions made by the 
corporate management of Henkel  AG & Co. KGaA. Forward-looking 
statements are characterized by  the  use  of  words such as expect, 
intend, plan, predict,  assume,  believe,  estimate,  anticipate and 
similar formulations. Such statements are not to be  understood  as  
in  any way guaranteeing that those expectations will turn out to  be
accurate.  Future performance and the results actually achieved by 
Henkel AG & Co.  KGaA  and  its affiliated companies depend on a 
number  of  risks  and  uncertainties  and  may therefore differ 
materially from the forward-looking statements. Many  of  these 
factors are outside Henkel´s control  and  cannot  be  accurately  
estimated  in advance, such as the future economic environment and 
the actions of  competitors and others involved in the marketplace. 
Henkel neither plans nor  undertakes  to update forward-looking 
statements.
Contact
Lars Witteck     Wulf Klüppelholz
Tel.  +49 211 797 - 2606    Tel.  +49 211 797 - 1875
Fax   +49 211 798 - 4040    Fax   +49 211 798 - 4040
Henkel AG & Co. KGaA
Photo material available for downloading at http://www.henkel.com/press. For
more detailed facts and figures relating to the third quarter of 
2010, please go to: http://www.henkel.com/ir.
press@henkel.com
[pic]
end of announcement                               euro adhoc

Further inquiry note:

Irene Honisch
Corporate Communications
Tel.: +49 (0)211 797-5668
E-Mail: irene.honisch@henkel.com

Branche: Consumer Goods
ISIN: DE0006048432
WKN: 604843
Index: DAX, CDAX, HDAX, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade
Berlin / regulated dealing

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