Henkel's Sales Slightly Beat Expectations

By Mauro Orru

Henkel posted sales slightly ahead of analysts' forecasts for last year.

The German chemical and consumer-goods company on Monday reported sales of 21.51 billion euros ($23.32 billion) for 2023, down 3.9% in reported terms but up 4.2% organically from the previous year.

The company's adjusted return on sales increased to 11.9% from 10.4% in 2022. Adjusted earnings per preferred share--a closely watched profitability metric--grew 20% at constant exchange rates to EUR4.35.

Henkel said it would propose a 2023 dividend of EUR1.85 per preferred share and EUR1.83 per ordinary share to its annual general meeting on April 22, the same it paid for the previous year.

The group was expected to post annual sales of EUR21.50 billion, an adjusted return on sales of 12% and adjusted earnings per preferred share of EUR4.35, according to a Vara Research consensus based on estimates from 18 analysts.

This year, the group is forecasting organic sales growth of 2% to 4%, an adjusted return on sales between 12% and 13.5% and adjusted earnings per preferred share up 5% to 20% at constant exchange rates.

Write to Mauro Orru at mauro.orru@wsj.com

(END) Dow Jones Newswires

March 04, 2024 02:01 ET (07:01 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.