Highlights

• Group sales rose to approximately €5.5 billion, marking a 3.3% organic growth.
• Both business units contributed to organic growth: Adhesive Technologies achieved 3.7% growth, and Consumer Brands saw a 2.7% increase.
• Henkel expanded its ambitious climate goals with a net-zero roadmap targeting greenhouse gas reductions by 2045.
• FY 2024 sales and earnings guidance remains consistent, with potential to reach the upper half of earnings expectations.

In Q3 2024, Henkel’s Group sales increased to around €5.5 billion, achieving an organic growth rate of 3.3%, attributed to strong pricing and positive volume trends. In nominal terms, sales rose by 1.0% compared to the same period in 2023. "We continued to deliver solid results in Q3, with strong gross margins allowing us to invest further in our businesses and brands,” said Carsten Knobel, CEO of Henkel. "Our results affirm that we’re on the right path with our growth strategy."

Henkel has maintained its optimistic outlook for 2024, noting a strong year-to-date performance with a clear opportunity to reach the higher end of the earnings range for adjusted EBIT margin and adjusted EPS growth. Additionally, Henkel is advancing its sustainability agenda, unveiling a validated net-zero roadmap aimed at achieving greenhouse gas neutrality by 2045.

Business Unit Performance

Adhesive Technologies: Sales reached €2.8 billion in Q3, reflecting a 3.3% nominal increase and 3.7% organic growth. This growth was driven by volume increases across all business areas, while pricing remained stable. Geographically, Europe and IMEA led the growth, while North America faced slight declines due to market challenges in Mobility & Electronics.

Consumer Brands: The Consumer Brands unit posted €2.65 billion in sales in Q3, down -1.6% nominally but up 2.7% organically, driven by continued strong pricing. The Laundry & Home Care sector experienced mixed results, while the Hair business achieved robust organic growth, primarily due to strong performance in Hair Styling and Professional categories. Regional growth was notable in Europe and IMEA, while North America faced challenges in Laundry & Home Care.

Financial Outlook for FY 2024

Henkel projects organic sales growth of 2.5–4.5% for the full year, with Adhesive Technologies expected to grow by 2.0–4.0% and Consumer Brands by 3.0–5.0%. The adjusted EBIT margin is anticipated to be between 13.5% and 14.5%, with an expected increase in adjusted EPS by 20–30% at constant exchange rates.

Source: Henkel