Consumer businesses report continued success; slight recovery of Adhesives business.
In a persistently difficult
market environment, Henkel achieved sales
of 3,485 million euros in the second quarter of 2009, 5.0% less than in the
prior-year period. Organic sales (i.e.,
sales after adjusting for foreign exchange and acquisitions/ divestments) were
5.3% below the level of the second quarter of 2008, but improved slightly
compared to the first quarter of this year. Against this background, developments
at the company’s three business sectors continued to show a very mixed picture.
The consumer goods businesses Laundry
& Home Care and Cosmetics/Toiletries
were able to successfully continue their positive trend with organic growth rates
of 6.3% and 3.5%, respectively. The Adhesive Technologies business sector
improved compared to the first quarter, but due to the volume decreases in
major customer industries worldwide, was unable to avoid posting a decline in
organic sales of 15.4%.
Due primarily to the restructuring
charges burden on the results of the prior-year quarter, operating profit (EBIT) increased by 145%, from 113 million euros
to 279 million euros. After adjusting for one-time
gains/charges and restructuring charges, adjusted operating profit (“adjusted EBIT”)
decreased by 17.2%, from 372 million euros to 308 million euros. This is
largely attributable to the decrease in earnings at Adhesive Technologies.
The EBIT margin was 8.0%, while the adjusted EBIT margin decreased from
10.1% to 8.7%.
For more information, visit
Henkel Reports Positive Trend in Second Quarter (8/18/09)
August 18, 2009