(CercleFinance.com) – Henkel moved little on Monday in the first trading on the Frankfurt Stock Exchange despite half-year results that exceeded analysts’ expectations.
The German group of consumer products generated over the first six months of the year an operating profit (Ebit) of 1.17 billion euros, down 18.5%.
The Düsseldorf group explains that the sharp rise in the prices of raw materials and logistics costs could not be fully offset by its price increases and its efforts to control expenditure.
Its operating margin stands at 10.7%, down 3.7 points, against a consensus of 10.1%.
The owner of Locite glue, Le Chat laundry detergent and Schwarzkopf shampoos says it achieved half-year sales up 9.9% to 10.9 billion euros, including +8.9% organic growth .
For comparison, analysts expected a turnover of 10.9 billion euros.
Despite this publication above expectations, the Henkel title listed on the DAX index only nibbled away at 0.2% on Monday morning, after starting the session down slightly.
‘These are impressive results, but broadly in line with those already published by other groups in the sector’, commented RBC analysts this morning.
Henkel has also revised upwards its forecast for organic growth for the full year, now forecasting sales up 4.5% to 6.5%, against 3.5-5.5% until now.
‘Again, this forecast is in line with consensus estimates, which average +5.2%’, add RBC analysts.
Henkel, on the other hand, confirmed its objective of an adjusted operating margin (Ebit) between 9% and 11% this year.
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