Germany’s Henkel raises 2024 outlook on strong Q1

blog image

German consumer products behemoth Henkel raised its fiscal year 2024 projection slightly due to strong performance in the first quarter, which improved sales and profitability expectations. The company made the announcement on Friday.

The conglomerate is now aiming for an increase of 2.5% to 4.5% in organic sales for the full year, up from 2.0% to 4.0% previously. Also, Henkel’s revised objective for adjusted return on sales (EBIT margin) is between 13% and 14%, up from 12.5–13% previously.

In the first three months of the year, sales were 5.3 billion euros ($5.69 billion), up 3% year-over-year. On May 8, the business will reveal more details about the sales trend.

The upward revision at Henkel highlights the company’s capacity to adapt and persevere in the face of changing market conditions. The company’s dedication to innovation and operational excellence positions it to take advantage of new opportunities and provide long-term value to its stakeholders.

Ethan Sullivan

Ethan's penchant for the pulse of the fashion world extends to covering lifestyle topics, offering readers a seamless blend of the latest style updates and lifestyle trends.

Read more