Henkel FY22 Profit Down, Sees Slower Organic Sales Growth In FY23; Stock Down

RTTNews | il y a 678

(RTTNews) - Shares of Henkel AG & Co. KGaA were losing around 3 percent in the morning trading in Germany after the chemical and consumer goods firm reported Tuesday weak earnings in its fiscal 2022, despite increased sales. Further, the company maintained its dividend, and said it sees slower organic sales growth in fiscal 2023.

For fiscal 2023, Henkel expects organic sales growth would be between 1.0 and 3.0 percent, compared to fiscal 2022 organic sales growth of 8.8 percent.

Adjusted earnings per preferred share at constant exchange rates for the new year would move in a range of down 10 percent to up 10 percent. Adjusted return on sales would be in the range of 10 to 12 percent, higher than last year.

Henkel CEO Carsten Knobel said, "Based on these assumptions, we expect subdued industrial demand compared to the previous year, as well as weakening growth dynamics in consumer demand in segments which are relevant for Henkel."

The company noted that the exceptionally volatile and challenging market environment that were present in fiscal 2022 will also continue to impact its businesses in 2023.

In the mid-term, the company aims to realize gross savings of around 500 million euros. The company sees significant synergy potential arising from adapted sales and administrative structures, a stronger focus in advertising and marketing, and an optimized supply chain.

Henkel plans implementation to take place in two phases. In the first phase, measures being implemented by the end of 2023 will result in net savings of around 250 million euros on an annual basis from 2024 onwards.

As a second step, the company will optimize the business unit's production and logistics network. The first measures will start in 2023 and aim for implementation by the end of 2025.

Further, Henkel said its Management Board, Supervisory Board and Shareholders' Committee will propose to the Annual General Meeting on April 24 a stable dividend relative to the previous year of 1.85 euros per preferred share and 1.83 euros per ordinary share.

In fiscal 2022, net income attributable to shareholders of Henkel dropped 23 percent to 1.26 billion euros from last year's 1.63 billion euros.

Earnings per preferred share were 2.95 euros, down 22 percent from 3.78 euros a year ago. Adjusted earnings per preferred share were 3.90 euros, compared to 4.56 euros in the prior year.

Adjusted operating profit or adjusted EBIT for fiscal year 2022 declined 13.7 percent to 2.32 billion euros from 2.69 billion euros in fiscal 2021. Adjusted EBIT margin was 8.1 percent, down 2.9 percentage points.

The earnings were mainly hit by the impact of significantly higher prices for raw materials and logistics.

Group sales were 22.40 billion euros in fiscal 2022, a growth of 11.6 percent from last year's 20.07 billion euros, driven by price increases across all business units.

Organic sales increased 8.8 percent as a 13.2 percent rise Adhesive Technologies and 6.3 percent growth in Laundry & Home Care sales offset a 0.5 percent drop in beauty care.

In the fourth quarter, Henkel sales were 5.51 billion euros, a growth of 6 percent organically, driven by a 11.5 percent rise Adhesive Technologies and 3 percent growth in Laundry & Home Care sales. Meanwhile, sales dropped 4 percent in beauty care.

In Germany, Henkel shares were trading at 67.34 euros, down 2.7 percent.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

Tags: HENKY.PK HENOY.PK

Henkel H1 Profit Surges, Confirms Outlook

German chemical and consumer goods firm Henkel AG & Co. KGaA (HENOY.PK) on Tuesday maintained its recently revised fiscal 2024 outlook after reporting significantly higher profit in its first half, despite slightly lower sales. Organic sales, however, grew from last year, with growth in both business units. Henkel further expects mid- to long-term financial ambition already to be reached mid-term.

RTTNews | il y a 153

Japan Stock Market May Spin Its Wheels On Tuesday

Ahead of Monday's holiday for Coming Of Age Day, the Japanese stock market has finished lower in three straight sessions, stumbling almost 900 points or 2.4 percent along the way. The Nikkei 225 now rests just beneath the 39,200-point plateau and it may see another soft start on Tuesday as it catches up on missed weak sentiment. The global forecast for the Asian markets is murky, with support from the oil companies likely offset by weakness from the technology shares. The European markets were down and the U.S. bourses were mostly higher and the Asian markets figure to split the difference. The Nikkei finished sharply lower on Friday following losses from the financial shares, technology stocks and automobile producers. For the day, the index stumbled 414.70 points or 1.05 percent to finish at 39,190.40 after trading between 39,166.05 and 39,591.46. Among the actives, Nissan Motor added 0.67 percent, while Mazda Motor slumped 1.57 percent, Toyota Motor plunged 2.43 percent, Honda Motor tumbled 1.61 percent, Softbank Group lost 0.84 percent, Mitsubishi UFJ Financial sank 0.73 percent, Mizuho Financial retreated 1.94 percent, Sumitomo Mitsui Financial stumbled 2.24 percent, Mitsubishi Electric shed 0.64 percent, Sony Group fell 0.31 percent, Panasonic Holdings dropped 0.95 percent and Hitachi surrendered 2,53 percent. The lead from Wall Street is mixed to higher as the major averages opened on opposite sides of the unchanged line on Monday and finished in the same manner.

RTTNews | il y a 5h 10min

Tech Shares May Keep KOSPI Floundering

The South Korea stock market has moved lower in two straight sessions, sinking almost 35 points or 1.4 percent along the way. The KOSPI now sits just beneath the 2,490-point plateau and it may remain stuck in neutral on Tuesday. The global forecast for the Asian markets is murky, with support from the oil companies likely offset by weakness from the technology shares. The European markets were down and the U.S. bourses were mostly higher and the Asian markets figure to split the difference. The KOSPI finished sharply lower on Monday following losses from the technology stocks, chemicals and industrials, while the financials offered support. For the day, the index dropped 26.22 points or 1.04 percent to finish at 2,489.56 after trading between 2,483.73 and 2,513.93. Volume was 569.34 million shares worth 8.89 trillion won. There were 637 decliners and 261 gainers. Among the actives, Shinhan Financial collected 0.30 percent, while KB Financial spiked 1.71 percent, Samsung Electronics stumbled 2.17 percent, Samsung SDI slumped 1.92 percent, LG Electronics retreated 1.75 percent, SK Hynix plunged 4.52 percent, Naver advanced 0.99 percent, LG Chem declined 1.63 percent, Lotte Chemical dropped 2.56 percent, SK Innovation added 0.64 percent, POSCO Holdings surrendered 1.91 percent, SK Telecom improved 0.72 percent, KEPCO skidded 1.23 percent, Hyundai Mobis lost 1.36 percent, Hyundai Motor tumbled 2.65 percent, Kia Motors eased 0.19 percent and Hana Financial was unchanged.

RTTNews | il y a 5h 25min

TSX Ends Weak For 2nd Straight Day

Canadian stocks turned in a weak performance on Monday as rising concerns about tariffs, and fading prospects of an interest rate cut by the Federal Reserve this month rendered the mood bearish.

RTTNews | il y a 5h 48min

Australia Building Approval Data Due On Tuesday

Australia will on Tuesday release November numbers for building approvals, highlighting a light day for Asia-Pacific economic activity. Approvals are expected to sink 3.6 percent on month after climbing 4.2 percent in October.

RTTNews | il y a 5h 55min

Dollar Rises Amid Fading Prospects Of Fed Rate Cuts

The U.S. Dollar climbed higher on Monday, scoring over some of its major counterparts, amid waning prospects of an interest rate cut by the Federal Reserve this month. Last week's upbeat U.S. jobs data has raised the possibility of the central bank going slow on rate cuts.

RTTNews | il y a 6h 35min

US Consumers Expect Higher Inflation In Next Few Years: NY Fed Survey

U.S. consumers' inflation expectations for the next three years increased sharply in December, while unemployment concerns were mixed, results of a monthly survey by the Federal Reserve Bank of New York showed on Monday. Median inflation expectations for the one-year horizon were unchanged at 3.0 percent but they increased to 3.0 percent from 2.6 percent for the three-year horizon.

RTTNews | il y a 7h 50min

Canadian Market Headed For Another Weak Close

The Canadian market is down firmly in negative territory Monday afternoon, with stocks from several sectors reeling under sustained selling pressure amid concerns the Federal Reserve will hold interest rates higher following a much bigger than expected addition of jobs in U.S. non-farm payroll employment in the month of December. Higher bond yields are also weighing on stocks.

RTTNews | il y a 8h 29min

EURUSD	1.02672	GBPUSD	1.22369	AUDUSD	0.61946
USDJPY	157.298	USDCAD	1.43578	USDCHF	0.91566