Henkel AG & Co. KGaA

EANS-News: Henkel AG & Co. KGaA /


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Financial Figures/Balance Sheet


Düsseldorf (euro adhoc) - August 1, 2012


Good performance continued through second quarter 2012


Henkel reports strong increase in sales and earnings




    - Sales rise 6.4 percent to 4,206 million euros (organic: + 4.0%)
    - Adjusted* operating profit: + 18.6 percent to 609 million euros
    - Adjusted* EBIT margin: + 1.5 percentage points to 14.5 percent
    - Adjusted* earnings per preferred share (EPS): + 22.8 percent to 0.97
      euros
    - Emerging markets again primary success drivers (organic sales: + 8.1%)

 - Targets for 2012 confirmed; EPS growth outlook raised from at least 10
   percent to around 15 percent

Düsseldorf - "Henkel continued its  good  performance  in  the  second  quarter,
despite a difficult market environment. We generated profitable  growth  in  all
our business sectors and posted a substantial  increase  in  our  EBIT  margin,"
said Henkel CEO Kasper Rorsted.  "The  solid  results  achieved  in  the  second
quarter also reflect our persistent focus on our strategic priorities.  We  have
thus taken an important step towards achieving our targets for 2012."

Looking at the full fiscal year 2012, Rorsted said: "We  expect  that  the  very
volatile  environment  with  uncertainties  in  our  markets  will  persist.  In
particular, the effects of  the  debt  and  financial  crises  in  a  number  of
countries will continue to be a challenge. Hence, we will continue  to  analyze,
adapt and further improve our processes and structures."

Guidance for 2012 confirmed - Outlook for EPS growth raised

"Based on our solid performance in this first half year,  we  are  confident  of
achieving our targets for 2012. We expect organic sales growth to be  between  3
and 5 percent and to increase adjusted EBIT margin to 14 percent.  For  adjusted
earnings per preferred share, we have raised our growth outlook  from  at  least
10 percent to around 15 percent," Rorsted added.

Henkel's sales in the second quarter  of  2012  were  4,206  million  euros,  an
increase of 6.4 percent compared to  the  figure  for  the  prior-year  quarter.
Organic  sales,   which   exclude   the   impact   of   foreign   exchange   and
acquisitions/divestments, rose by 4.0 percent, a solid increase compared to  the
prior-year quarter.

All three business sectors contributed to this positive development:  Laundry  &
Home Care registered strong organic growth of 5.1 percent; organic sales  growth
at the Cosmetics/Toiletries business sector reached a  solid  2.8  percent;  and
the Adhesive Technologies business sector also  generated  solid  organic  sales
growth amounting to 3.6 percent.

After allowing for one-time gains, one-time charges and  restructuring  charges,
adjusted operating profit improved by 18.6 percent, from 514  million  euros  to
609 million euros,  with  all  three  business  sectors  contributing.  Reported
operating profit (EBIT) increased by 8.5 percent, from 537 million euros to  583
million euros.

Adjusted  return  on  sales  (EBIT  margin)  increased  significantly   by   1.5
percentage points, from 13.0 percent to 14.5 percent. Reported return  on  sales
was 13.9 percent, following 13.6 percent in the comparative prior-year period.

The company's financial result improved  versus  the  prior-year  quarter  by  6
million euros to -35 million euros. At 24.8 percent, the tax rate  was  slightly
above the level of the previous year (24.4 percent).

Net income for the quarter rose by 9.9 percent, from 375 million  euros  to  412
million euros. After deducting 11 million euros attributable to  non-controlling
interests, quarterly net  income  amounted  to  401  million  euros  (prior-year
quarter: 366 million euros). Adjusted quarterly net income after deducting  non-
controlling interests amounted to 420 million  euros  compared  to  343  million
euros in the prior-year quarter. Earnings per preferred share  (EPS)  rose  from
0.85 euros to 0.92 euros. The adjusted figure was 0.97 euros  compared  to  0.79
euros in the prior-year quarter.

Further good progress was  made  in  the  management  of  net  working  capital.
Compared to the prior-year period, the ratio of net  working  capital  to  sales
improved by 0.9 percentage points to 7.5 percent. Net debt was reduced to  1,269
million euros as of June 30, 2012 (June 30, 2011: 1,959 million euros).

Business performance January through June 2012

In the first six months of fiscal 2012, Henkel increased sales versus the prior-
year period by a strong 5.6 percent to 8,214 million euros. Organic  sales  also
showed solid growth of 4.3 percent versus  the  first  half  of  2011.  Adjusted
operating profit rose by 17.6 percent, from 987 million euros to  1,160  million
euros,  with  all  three  business  sectors   contributing   to   the   positive
performance. Adjusted return on sales (EBIT margin) improved from  12.7  percent
to 14.1 percent.

Net income for the half year rose by 21.8 percent, from  671  million  euros  to
817 million euros.  After  deducting  20  million  euros  attributable  to  non-
controlling interests, quarterly  net  income  amounted  to  797  million  euros
(prior-year period: 657 million euros). Adjusted earnings  per  preferred  share
(EPS) rose by 21.1 percent, from 1.52 euros to 1.84 euros.

Business sector performance second quarter 2012

The Laundry & Home Care business sector continued its strong sales and  earnings
performance in the second quarter, with  all  its  key  financials  outstripping
those of the second quarter of 2011. Nominal sales rose by 6.6 percent to  1,147
million euros, compared to  1,076  million  euros  in  the  prior-year  quarter.
Organically, sales rose by 5.1 percent.

All regions contributed to the strong sales performance achieved.  The  greatest
impetus again came  from  the  emerging  markets,  which  achieved  double-digit
growth rates overall, with Africa/Middle East  and  Latin  America  posting  the
highest growth rates. Sales in Eastern Europe were also very  strong,  supported
in particular by a double-digit rate of growth in Russia and  Turkey.  Following
a slight decrease in sales  in  the  first  quarter,  the  company  returned  to
positive sales growth in Western Europe against a still weak market  environment
in the Southern European countries and a persistently high level of  competitive
intensity. Sales in North America increased despite  a  further  contraction  in
the market.

Adjusted operating profit increased significantly - by almost 20  percent  -  to
167 million euros, while adjusted return on sales  improved  by  1.5  percentage
points to 14.5 percent, with  ongoing  measures  to  reduce  costs  and  enhance
efficiency having a positive  effect.  Reported  operating  profit  totaled  153
million euros compared to  157  million  euros  in  the  comparative  prior-year
quarter.

The Cosmetics/Toiletries business sector continued  its  uptrend  in  profitable
growth during the second quarter. Nominal sales totaled 921 million  euros,  4.5
percent above the  881  million  euros  generated  in  the  prior-year  quarter.
Organic sales rose by 2.8 percent.

Growth  was  supported  by  all  regions,  albeit  with  the  emerging   markets
continuing to show the strongest dynamics. The  regions  of  Africa/Middle  East
and Asia (excluding Japan) delivered double-digit growth rates,  with  sales  in
Eastern Europe and Latin America likewise  developing  positively.  Bucking  the
adverse economic conditions  prevailing  in  the  mature  markets,  the  company
generated solid sales growth in Western Europe and also posted a positive  sales
performance in North America.

Adjusted operating profit increased by 7.1 percent  to  133  million  euros.  At
14.4 percent, adjusted return on sales rose by 0.3  percentage  points  compared
to the second quarter of 2011. Reported operating  profit  was  at  131  million
euros following 140 million euros in the prior-year quarter, this latter  figure
having included a one-time gain from the disposal of the branded consumer  goods
business in India.

The Adhesive Technologies business sector  again  succeeded  in  increasing  its
sales in the second quarter  of  2012,  accompanied  by  a  further  substantial
improvement in earnings. Nominal sales rose by  6.9  percent  to  2,099  million
euros, with organic growth coming in at 3.6 percent.

The emerging markets provided important impetus for  the  solid  sales  increase
achieved, with good, above-average sales being posted in the regions of  Eastern
Europe and Africa/Middle  East  particularly.  In  Western  Europe,  sales  were
slightly below the level of the prior-year quarter,  due  primarily  to  adverse
market conditions in Southern Europe. By  contrast,  the  strong  growth  posted
once again by the businesses in North America made a major contribution  to  the
rise in sales.

Adjusted operating profit again increased by a substantial 18.7 percent  to  330
million euros. Adjusted return on  sales  improved  by  1.5  percentage  points,
reaching 15.7 percent for the first time. Compared to  the  prior-year  quarter,
reported operating profit rose by 21.3 percent to 327 million euros.

Regional performance

At 1.425 million euros and with organic growth of -0.1 percent sales in  Western
Europe, which account for around one third of total Henkel  sales,  remained  at
the level of the prior year quarter in a highly competitive market  environment.
The effects of the growing financial crisis  in  Southern  Europe  were  offset.
Sales in the Eastern Europe region rose by 5.8 percent  to  771  million  euros.
Organic  growth  was  7.9  percent.  Among  the  primary  contributors  to  this
improvement were the company's businesses in Turkey and its adhesives  operation
in Russia. Henkel once  again  generated  double-digit  organic  growth  in  the
Africa/Middle East region, posting an increase this time of  14.1  percent.  The
contribution made here by the  Laundry  &  Home  care  business  was  especially
strong. Nominal sales rose by 20.7 percent to 279  million  euros,  compared  to
231 million euros in the comparative prior-year quarter.

Sales in the North America region rose by 13.2 percent  to  765  million  euros.
Despite a reluctant consumer climate, sales grew  organically  by  3.8  percent,
driven in particular by the adhesives business. At 270 million euros,  sales  in
the Latin America region remained  roughly  at  the  prior-year  level.  Organic
sales grew by  3.9  percent,  with  business  development  in  Mexico  making  a
particularly important contribution. The Asia-Pacific  region  registered  sales
growth of 11.8 percent to 657 million euros. In organic  terms,  sales  rose  by
4.5 percent, driven in particular by growth in China and Indonesia.

Sales growth was again given a particular  boost  by  the  emerging  markets  of
Eastern Europe, Africa/Middle East, Latin America  and  Asia  (excluding  Japan)
where sales rose by 9.3 percent to 1,829 million euros. Organic growth  was  8.1
percent. The share of sales attributable to  these  emerging  markets  increased
from 42 percent of consolidated sales in the prior-year quarter  to  43  percent
this time.

Sales and profits forecast 2012

Henkel continues to expect an organic sales growth  rate  of  between  3  and  5
percent for the  full  fiscal  year.  Henkel  is  confident  of  continuing  the
positive growth trend posted by its  consumer  goods  businesses,  with  organic
sales expected to expand in the  low  single-digit  percentage  range.  For  the
Adhesive Technologies business sector, Henkel expects organic sales to  grow  in
the mid single-digit percentage range.  Henkel  confirms  its  forecast  for  an
adjusted return on  sales  (EBIT)  of  14  percent  (2011:  13.0  percent).  The
forecasted increase in adjusted earnings per preferred share (2011 figure:  3.14
euros) has been specified. Henkel now expects an increase of around  15  percent
(previously: at least  10  percent).  This  guidance  is  based  on  anticipated
increases  in  Henkel's  selling  prices  and  the  ongoing  adaptation  of  its
structures  to  the  constantly  changing  market  conditions.   Through   these
activities and the maintenance of its strict cost discipline, Henkel intends  to
more than offset the effects of increased raw material costs on its earnings.


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,
forecast 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
E-mail: lars.witteck@henkel.com      E-mail: wulf.klueppelholz@henkel.com

Henkel AG & Co. KGaA



The report for the second quarter of 2012 and other information with download
material and the link to the teleconference broadcast can be found in our press
folder on the internet at:
http://www.henkel.com/press/publication-report-q2-half-year-2012-36162.htm


press@henkel.com


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

end of announcement                               euro adhoc 
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company:     Henkel AG & Co. KGaA
             Henkelstr. 67
             D-40191 Düsseldorf
phone:       +49 (0)211 797-0
FAX:         +49 (0)211 798-4008
WWW:      http://www.henkel.com
sector:      Consumer Goods
ISIN:        DE0006048432, DE0006048408
indexes:     DAX, CDAX, HDAX, Prime All Share
stockmarkets: free trade: Hannover, München, Hamburg, Düsseldorf, Stuttgart,
             regulated dealing: Berlin, regulated dealing/prime standard:
             Frankfurt 
language:   English
 

 

 



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