Henkel raises its full-year forecast for 2024
The German manufacturer of fast-moving consumer goods said it generated sales of around 5.3 billion euros in the first three months of the year, representing organic growth of 3%.
The group said its adhesives division posted "record" sales of 2.7 billion euros, representing organic growth of 1.3%.
The Consumer Products Division posted organic growth of 5.2%, with sales of 2.6 billion euros.
Henkel is now targeting organic sales growth of 2.5% to 4.5% this year, compared with a previous forecast of 2% to 4%.
Its adjusted margin is now expected to be between 13% and 14%, instead of between 12% and 13.5%.
"Clearly, profitability is recovering well", said analysts at RBC.
These announcements sent the share price up by more than 7% on the Frankfurt Stock Exchange, by far the biggest gainer on the DAX index of Germany's 40 biggest stocks, which was up by 0.3% at this stage. The share price thus returned to an almost one-year high.
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