DUESSELDORF (dpa-AFX) - German chemical and consumer goods major Henkel AG & Co. KGaA (HENOY.PK, HENKY.PK) reported Thursday higher profit in its first half, but sales declined from last year. Further, the company maintained fiscal 2025 adjusted earnings per share forecast, and raised margin view, but trimmed forecast for organic sales growth.
Looking ahead, for fiscal 2025, Henkel continues to expect adjusted earnings per preferred share at constant exchange rates to increase in the low to high single-digit percentage range.
However, the company raised the expectation for the adjusted return on sales or adjusted EBIT margin to a range between 14.5 and 15.5 percent from previous view of 14.0 percent to 15.5 percent.
The company now expects organic sales growth of between 1.0 and 2.0 percent, lower than previously projected growth of 1.5 to 3.5 percent.
In the first half, net income attributable to shareholders grew 7.9 percent to 1.11 billion euros from last year's 1.03 billion euros. Earnings per preferred share were 2.66 euros, up 8.1% from prior year's 2.46 euros.
Adjusted earnings per preferred share were 2.81 euros, compared to 2.78 euros a year ago.
Operating profit or EBIT grew 4.8 percent year-over-year to 1.54 billion euros, and adjusted EBIT edged up 0.2 percent to 1.614 billion euros.
Adjusted EBIT margin registered an increase of 60 basis points to 15.5 percent from 14.9 percent last year.
Henkel achieved Group sales of 10.40 billion euros in the first half, down 3.8 percent from 10.81 billion euros last year. In organic terms, sales were down 0.1 percent from last year.
In the second quarter, sales were 5.16 billion euros, down 6.1 percent from the prior year on a reported basis, but up 0.9 percent organically.
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