Germany · Delayed Price · Currency is EUR Henkel AG & Co. KGaA Earnings Call Transcripts
Fiscal Year 2026
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The AGM celebrated the company's 150th anniversary, reviewed strong 2025 financials with EUR 20.5 billion in sales, and announced a 1.5% dividend increase. Strategic initiatives included major acquisitions, business unit restructuring, and a continued focus on innovation and sustainability.
Fiscal Year 2025
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Organic sales grew 0.9% in 2025, with EBIT margin and EPS improving year-over-year. Early Consumer Brands integration, strong cash flow, and new acquisitions support further growth, while 2026 guidance anticipates continued top and bottom line expansion despite ongoing volatility.
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Q3 delivered positive organic sales growth in both business units, with strong performance in Adhesive Technologies and a return to positive volume in Consumer Brands. Full-year guidance remains unchanged, though organic sales growth may land at the lower end if economic conditions do not improve.
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Adhesive Technologies reported €11 billion in 2024 sales, a record EBIT, and a 16.6% margin, driven by innovation, sustainability, and a capital-light model. The business targets 3-5% midterm organic growth and high-teen EBIT margins, leveraging both organic and inorganic expansion.
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Adhesive Technologies and Consumer Brands divisions are focusing on global megatrends like mobility, connectivity, digitalization, and urbanization to drive growth.
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Q1 2025 saw organic sales decline by 1% due to negative volumes, but pricing remained positive and supply chain issues were largely resolved. Adhesive Technologies grew 1.1% organically, while Consumer Brands fell 3.5%. Guidance for 2025 is unchanged, with stronger growth expected in the second half.
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The AGM covered board changes, strong financial results with sales of EUR 21.6 billion, and a proposed dividend increase of over 10%. Strategic initiatives focused on innovation, sustainability, and digitalization, with new acquisitions and global gender-neutral parental leave.
Fiscal Year 2024
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Delivered strong 2024 results with 2.6% organic sales growth, record margins, and robust free cash flow. 2025 guidance anticipates continued growth, with H2 expected to outperform H1 amid ongoing macro volatility. Shareholder returns enhanced via higher dividends and a new share buyback.
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Strong Q3 organic sales growth of 3.3% was driven by both Adhesive Technologies and Consumer Brands, with robust gross margins and increased investments in innovation and sustainability. Full-year guidance was reiterated, with portfolio optimization in Consumer Brands set to conclude by year-end.
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Strong H1 2024 results with 2.9% organic sales growth, 28.4% higher adjusted operating profit, and raised full-year guidance. Consumer Brands and Adhesive Technologies both delivered margin and profit gains, while strategic exits and innovation drive future growth.