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Henkel AG & Co. KGaA

EANS-News: Henkel AG & Co. KGaA
Henkel delivers sales and earnings at record levels

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annual report/annual result/Henkel, Press Conference 


Düsseldorf (euro adhoc) - March 8, 2012


Ambitious 2011 targets achieved


Henkel delivers sales and earnings at record levels




    • Sales increase of 3.4% to 15,605 million euros (organic: +5.9%)
    • Adjusted* operating profit: plus 9.0% to 2,029 million euros
    • Adjusted* EBIT margin: plus 0.7 percentage points to 13.0%
    • Adjusted* earnings per preferred share (EPS): plus 11.3% to 3.14 euros
    • Double-digit increase in emerging markets (organic: +10.8%)
    • Higher dividend proposed: plus 11.1% to 0.80 euros per preferred share
    • 2012 financial targets reconfirmed


Düsseldorf - "2011 was another very successful year for  Henkel.  Despite  major
challenges in a volatile economic environment, we fully achieved  our  ambitious
targets - and even overdelivered on some of them. Sales and profits  are  higher
than ever before," said Henkel CEO  Kasper  Rorsted.  "A  major  factor  driving
Henkel´s strong performance was the further expansion of  our  position  in  the
emerging markets, where we once again registered double-digit  growth.  We  made
considerable progress in 2011,  establishing  a  strong  platform  for  Henkel´s
future. Thus, we are very confident of achieving the  targets  for  fiscal  2012
that we set in 2008."

For the  fiscal  year  2012,  Rorsted  provided  the  following  guidance:  "The
economic environment remains challenging.  It  is  significantly  more  volatile
today than in the past. As a consequence we need to constantly  adapt  in  order
to respond quickly and flexibly to changes in our markets. However, we  consider
Henkel to be well-positioned. We  expect  organic  sales  growth  for  the  full
fiscal year to be between 3 and 5  percent.  We  also  expect  to  increase  our
adjusted EBIT margin to 14 percent and improve adjusted earnings  per  preferred
share by at least 10 percent."

Operating in a challenging  economic  environment,  Henkel  increased  sales  in
fiscal 2011 to 15,605 million euros, a rise  of  3.4  percent  compared  to  the
prior-year figure. Organic sales, which exclude the impact of  foreign  exchange
and acquisitions/divestments, increased by an even stronger 5.9 percent.

All the company´s business sectors contributed  to  this  positive  development,
further  expanding  their  market  shares  in  the  relevant  markets.  Adhesive
Technologies increased sales organically by 8.3 percent to a new high  of  7,746
million euros. The Cosmetics/Toiletries business  sector  continued  its  strong
growth trend of recent years and, with organic  sales  growth  of  5.4  percent,
grew significantly stronger than the predominantly declining market.  Laundry  &
Home Care achieved a solid improvement in organic sales  of  2.9  percent  in  a
slightly declining market.

After allowing for one-time gains, one-time charges and  restructuring  charges,
adjusted operating profit improved by 9.0 percent, from 1,862 million  euros  to
2,029 million euros, with all three  business  sectors  contributing.  Operating
profit (EBIT) totaled  1,857  million  euros  and  was  7.8  percent  above  the
comparable prior-year level.

Despite the substantial increase in prices on the procurement markets,  adjusted
return on sales (EBIT margin) improved 0.7 percentage points, from 12.3  percent
to 13.0 percent, thus achieving Henkel´s guidance. Return on sales  came  in  at
11.9 percent, following 11.4 percent in the previous year.

Financial result improved by  16  million  euros  to  -155  million  euros,  due
primarily to lower net debt. The tax  rate  was  24.6  percent,  1.8  percentage
points lower than prior year.

Adjusted net income for the year after deducting non-controlling interests  rose
by 11.4 percent compared to the previous  year,  from  1,217  million  euros  to
1,356 million euros. Net income for 2011 was 1,283  million  euros  compared  to
1,143 million euros in 2010. After deducting  non-controlling  interests  of  30
million euros, net income for the year came in at 1,253 million euros  (previous
year: 1,118 million euros). Adjusted earnings per preferred share (EPS) rose  by
11.3 percent to 3.14 euros compared to 2.82 euros  in  the  previous  year.  The
nominal figure was 2.90 euros versus 2.59 euros in 2010.

The Management Board, Supervisory Board  and  Shareholders´  Committee  will  be
proposing to the Henkel Annual General Meeting  to  increase  the  dividend  per
preferred share to 0.80  (previous  year:  0.72)  euros  and  the  dividend  per
ordinary share to 0.78 (previous year: 0.70) euros.

The ratio of net working capital to sales was 7.3 percent,  slightly  above  the
prior-year level. Net debt as of December 31, 2011 was 1,677 million euros,  666
million euros below the prior-year level.

Business sector performance

Laundry & Home Care achieved an increase in organic sales of 2.9 percent, thus
substantially outstripping its slightly declining relevant markets. Average
selling prices rose by 1.6 percent, while volume increase contributed 1.3
percent to organic sales growth. Nominally, sales declined slightly by 0.3
percent to 4,304 million euros. The increase in market shares was mainly driven
by the positive development in both Europe and North America.

All regions contributed to the  solid  business  performance  achieved.  Western
Europe posted an increase in organic sales, benefiting from a solid  performance
in Germany. In North America, a slight increase in  sales  was  achieved  in  an
intensely competitive and appreciably  declining  market.  Developments  in  the
emerging markets were strong across the board.

Adjusted operating profit rose by 1.4 percent to  570  million  euros.  Adjusted
return on sales increased by 0.2 percentage points to 13.2 percent. Fiscal  2011
was generally characterized by  high  raw  material  price  increases.  However,
through product price increases, particularly in the second half  of  the  year,
and ongoing measures to reduce costs and increase efficiency in both  production
and supply chain, the negative impact caused by  the  strong  rise  in  material
costs was extensively offset.  Due  to  higher  restructuring  charges,  nominal
operating profit amounted to 511 million euros versus 542 million euros  in  the
previous year.

Again in 2011, the Cosmetics/Toiletries business  sector  continued  its  strong
growth path of recent years and, with organic growth of 5.4 percent,  once  more
significantly  outperformed  its  relevant  markets.  The  foundation  for  this
success was again provided by a  strong  innovation  program.  Nominally,  sales
rose by 4.0 percent, reaching 3,399 million euros.

The business sector generated growth  in  all  regions,  with  emerging  markets
growing double-digits. The  strongest  rises  were  once  again  posted  by  the
emerging markets of  Africa/Middle  East,  Latin  America  and  Asia  (excluding
Japan). Solid growth  was  also  achieved  in  Eastern  Europe.  Sales  likewise
increased in the mature markets in all regions.  The  mature  markets  in  Asia-
Pacific experienced very strong growth. In Western Europe  and,  in  particular,
North America, the  growth  achieved  was  higher  than  that  of  the  relevant
markets.

Adjusted operating profit significantly increased versus  prior  year,  by  10.5
percent to 482 million euros, the business sector´s highest earnings  figure  to
date. As a result, adjusted return on sales rose by  0.9  percentage  points  to
14.2 percent, likewise  reaching  a  new  high.  The  foundation  for  this  was
provided partly by measures to  reduce  costs  and  increase  efficiency,  which
helped to overcompensate the negative impact caused by the increase in  material
costs. In addition, the strict cost management approach  contributed  to  margin
improvement. Operating profit increased compared to the previous  year  by  14.6
percent to 471 million euros, likewise reaching a new high.

2011 saw the Adhesive  Technologies  business  sector  continue  its  profitable
growth trend. In an increasingly difficult economic environment, sales  improved
nominally by 6.0 percent to a new high of 7,746 million euros. At  8.3  percent,
organic growth was once again significantly higher than  that  of  the  relevant
markets. This very strong  performance  was  achieved  through  both  price  and
volume increases.

With growth in the mid-single-digit percentage  range,  the  mature  markets  of
Western Europe and  North  America  showed  strong  expansion  overall.  In  the
emerging markets, Henkel again generated disproportionate growth in the  double-
digit range, with the highest rates of increase occurring in the Eastern  Europe
region.

Once again, adjusted operating profit rose significantly compared to  the  prior
year, by 14.7 percent to 1,075 million euros. As a result,  adjusted  return  on
sales improved by 1.1 percentage points to another new  high  of  13.9  percent.
With an EBIT of 1,002 million euros, operating profit passed the 1 billion  euro
mark for the first time.

Regional performance

In the highly competitive market environment of Western Europe, sales  increased
by 2.8 percent to 5,624 million euros. Organic  sales  growth  amounted  to  2.3
percent, driven primarily by expansion in Germany and France. Sales  in  Eastern
Europe rose by 6.2 percent to 2,813 million euros.  Organic  sales  growth  here
was an impressive 10.3 percent, generated primarily by the businesses in  Turkey
and the adhesives business in Russia. Growth in the  Africa/Middle  East  region
was adversely affected by the political unrest in  some  countries.  Sales  rose
nominally by 3.7 percent to 934 million euros,  although  organic  sales  growth
did pass the double-digit mark with a  10.0  percent  increase,  achieved  as  a
result of double-digit growth rates in the United Arab  Emirates,  Saudi  Arabia
and Algeria.

Due to foreign exchange factors, sales of the  North  America  region  decreased
slightly, by 0.3 percent to 2,716 million euros. Despite  a  reluctant  consumer
climate in the USA, organic sales growth of the region came in at  4.4  percent.
The Latin America region continued  to  develop  very  strongly,  posting  sales
growth of 8.4 percent to 1,065 million euros.  The  double-digit  organic  sales
growth  of  11.0  percent  was  driven  in  particular  by   Henkel´s   business
performance  in  Mexico,  Brazil  and  Venezuela.   Within   Asia-Pacific,   the
consequences of the natural disaster in Japan exerted a dampening  influence  on
regional sales growth. This amounted to 5.9 percent, taking the total  to  2,296
million euros. With an organic growth rate of 8.6 percent, however,  the  region
continued to show a very strong  development,  driven  particularly  by  double-
digit growth rates in China, India and South Korea.

Sales in the emerging markets  of  Eastern  Europe,  Africa/Middle  East,  Latin
America and Asia (excluding Japan) increased by 6.2  percent  to  6,512  million
euros.  Organic  growth  reached  10.8  percent,   with   contributions   coming
particularly from the Adhesive Technologies  and  Cosmetics/Toiletries  business
sectors, both of which posted double-digit  increases.  The  share  of  Henkel´s
sales accounted for by the emerging markets rose from 41 to 42 percent.

Fourth quarter 2011

In the fourth quarter of 2011, Henkel  increased  sales  versus  the  prior-year
period by 1.9 percent to 3,800 million euros.  Adjusted  for  foreign  exchange,
sales improved by 2.8 percent. Organic sales growth reached 3.8  percent.  After
allowing  for  one-time  gains,  one-time  charges  and  restructuring  charges,
adjusted operating profit rose by 12.3 percent, from 448 million  euros  to  502
million euros. At 439 million euros, operating profit  was  15.8  percent  above
the comparable figure for the previous year.  Adjusted  return  on  sales  (EBIT
margin) improved by 1.2 percentage points, from 12.0 percent  to  13.2  percent.
Return on sales came in  at  11.5  percent  compared  to  10.2  percent  in  the
comparative prior-year  period.  Adjusted  net  income  for  the  quarter  after
deducting non-controlling interests increased compared to the previous  year  by
13.2 percent, from 295 million euros to 334 million euros. Net  income  amounted
to 304 million euros compared to 254 million euros in the previous  year.  After
deducting non-controlling interests of 9 million  euros,  quarterly  net  income
was  295  million  euros  (prior-year  quarter:  249  million  euros).  Adjusted
earnings per preferred share (EPS) rose by 11.6 percent to 0.77 euros,  compared
to 0.69 euros in the previous year. The nominal figure improved from 0.58  euros
to 0.68 euros.

Sales and profits guidance for 2012
The Henkel Group expects to generate organic sales growth of  between  3  and  5
percent in fiscal 2012. Henkel is confident of continuing  the  positive  growth
trend posted by its consumer goods businesses, with sales likely  to  expand  in
the low single-digit percentage range. For the  Adhesive  Technologies  business
sector, Henkel expects sales to grow in the mid-single-digit  percentage  range.
In recent years, Henkel has introduced a number of  measures  that  have  had  a
positive impact on its cost structure. Also in  this  year,  Henkel  intends  to
further adapt its structures to the constantly changing market conditions  while
maintaining its strict cost discipline.  Henkel  also  aims  to  counteract  the
burden on earnings caused by high raw material costs.  These  factors,  together
with the expected  increase  in  sales,  should  positively  influence  earnings
development.  Based  on  the  2011  results,  Henkel  anticipates  achieving  an
increase in adjusted return on sales (EBIT) to 14 percent (2011:  13.0  percent)
and an increase in  adjusted  earnings  per  preferred  share  of  at  least  10
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,
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
Phone +49 211 797 - 2606                Phone      +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 2011 Annual Report and further information and download material relating
to fiscal 2011 together with the link to the live webcast of the press kit for
fiscal 2011 can be found in our press folder at:
http://www.henkel.com/press/press-conference-annual-and-sustainability-report-
2011-34779.htm

 
press@henkel.com


Further inquiry note:
Irene Honisch
AsTel.: +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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