Consumer goods giant Henkel has raised its sales and earnings outlook for full-year 2024, after a solid performance in its first quarter.
The Persil-maker now expects organic sales growth in the range of 2.5% to 4.5%, up from 2.0% to 4.0% announced previously.
The company kept its forecast for its Adhesive Technologies division unchanged, while it lifted the outlook for the Consumer Brands business to 3.0% to 5.0% from 2.0% to 4.0%.
Adjusted earnings per share (EPS) is expected to increase in the range of 15.0% to 25.0% at constant exchange rates, from the previously announced range of 5.0% to 20.0%, Henkel added.
'On The Right Track'
Carsten Knobel, CEO of Henkel stated, “The very good start to the year and the increase in the full-year outlook demonstrate very clearly that we are on the right track with our growth agenda.
“We have always pointed out that we want to deliver. And that is what we are doing. The changes initiated in both business units are showing clear results.”
Quarterly Highlights
Group sales increased 3.0% year on year to around €5.3 billion in the first quarter.
The Adhesive Technologies business recorded sales of around €2.7 billion and organic sales growth of 1.3%.
The Consumer Brands unit generated €2.6 billion in sales with organic sales growth of 5.2%.
Performance in the adhesive technologies business was boosted by robust business, gross margin growth and recovery in the electronics business, Henkel said.
The implementation of strategic measures and initiatives helped the company's Consumer Brands segment, with the hair business reporting strong performance.
In March of this year, Henkel reported organic sales growth of 4.2% in its full financial year 2023, with group sales amounting to €21.5 billion.
