henkel kgaa-spons adr pfd (HENOY) Key Developments
Henkel AG & Co. KGaA Reports Earnings Results for the Third Quarter and Nine Months Ended September 2014; Provides Earnings Guidance for the Fourth Quarter of 2014; Reaffirms Earnings Guidance for the Full Year of 2014
Nov 11 14
Henkel AG & Co. KGaA reported earnings results for the third quarter and nine months ended September 2014. For the quarter, the company reported sales increased by 1.2% to EUR 4,236 million compared to the prior-year quarter. Adjusted return on sales (EBIT margin) increased by 0.3 percentage points to 16.4%. Reported return on sales reached 14.2% compared to 15.5% in the third quarter 2013. The financial loss improved from EUR 25 million in the prior-year quarter to EUR 11 million in the third quarter of 2014. This positive development is primarily due to an improvement in net interest result. The reasons for this include repayments of senior bonds and interest-rate fixings maturing in March 2014. Net income for the quarter amounted to EUR 450 million compared to EUR 469 million in the prior-year quarter. After deducting EUR 10 million attributable to non-controlling interests, net income amounted to EUR 440 million compared to EUR 458 million a year ago. Adjusted net income for the quarter after deducting non-controlling interests increased by 6.7% from EUR 476 million to EUR 508 million. Earnings per preferred share (EPS) amounted to EUR 1.01 compared to EUR 1.06 in the prior-year quarter. After adjustment, EPS increased by 6.4% from EUR 1.10 to EUR 1.17. The free cash flow came in with EUR 629 million on the level of the prior year. The company spent EUR 351 million for investments in PPE and intangible assets. This is roughly EUR 60 million more than the comparable period of the last year.
For the first nine months, the company reported sales of EUR 12,302 million, 1.6% below the figure for the prior-year period. Organically, however, sales grew by 3.3%, a solid performance to which all business units contributed. Adjusted operating profit increased by 2.8% from EUR 1,932 million to EUR 1,986 million. Adjusted return on sales (EBIT margin) increased from 15.5% to 16.1%. Adjusted net income for the first nine months (after deducting non-controlling interests) grew by 7.8% from EUR 1,354 million to EUR 1,459 million. At EUR 3.37, adjusted earnings per preferred share (EPS) exceeded the prior-year figure by 7.7%.
The company continues to expect organic sales growth of 3% to 5% in the fiscal year 2014. In line with its 2016 strategy, the company also expects a slight increase in the share of sales from its emerging markets. The company now expects adjusted return on sales increases to just under 16.0% compared to 15.5% in 2013. As before, the company expects an increase in adjusted earnings per preferred share in the high-single digits. The company expects capex between EUR 500 million and EUR 550 million. The company takes the EBIT margin up to just under 16% from the previous guidance of 15.5%. The company expects the tax rate roughly of 25%.
The company expects a similar EPS growth in the fourth quarter as it has seen in the third quarter.
Henkel AG & Co. KGaA Presents at UBS European Conference 2014, Nov-11-2014 03:00 PM
Nov 8 14
Henkel AG & Co. KGaA Presents at UBS European Conference 2014, Nov-11-2014 03:00 PM. Venue: London, United Kingdom. Speakers: Kasper B. Rorsted, Chief Executive Officer, Chairman of The Management Board and Member of Management Board.
Henkel AG & Company Introduces Loctite 4090 Hybrid Adhesive
Sep 17 14
Henkel AG & Company has introduced Loctite 4090 hybrid adhesive. The Loctite 4090 combines the key features of structural and instant adhesives - bond strength and speed. This powerful combination provides high impact resistance, high strength bonding on a variety of substrates, and high temperature resistance, making it versatile enough to solve a wide range of design and assembly challenges. Loctite 4090 adhesive greatly expands the capabilities of traditional adhesives and opens the door to new applications and new solutions. This is the first hybrid adhesive, it delivers the speed of a cyanoacrylate and the strength of an epoxy.
Henkel AG & Co. KGaA Opens New Automated Storage Facility in Dusseldorf, Germany
Sep 12 14
Henkel AG & Co. KGaA opened a new automated storage facility at its corporate headquarters in Dusseldorf, Germany. The result is a facility: built on an area the size of two football fields, its ten rack levels offer storage capacity for more than 25 million packs of laundry and home care products.
Henkel AG & Co. KGaA Reports Group Earnings Results for the Second Quarter and First Half Ended June 30, 2014; Provides Earnings Guidance for the Fiscal Year 2014
Aug 12 14
Henkel AG & Co. KGaA reported group earnings results for the second quarter and first half ended June 30, 2014. For the quarter, the company reported due to the negative foreign-exchange impact, sales amounted to EUR 4,137 million, 3.5% below the figure for the prior-year quarter. After allowing for one-time gains, one-time charges and restructuring charges, adjusted operating profit rose by 2.1%, from EUR 660 million to EUR 674 million. Reported operating profit (EBIT) amounted to EUR 589 million compared to EUR 607 million in the prior-year quarter. The financial loss amounted to EUR 11 million compared to EUR 27 million in the second quarter of 2013. This positive development is primarily due to an improvement in the net interest result. Net income was increased by 10.8%, from EUR 432 million to EUR 446 million. After deducting EUR 5 million attributable to non-controlling interests, net income amounted to EUR 441 million compared to prior year quarter of EUR 418 million. Adjusted net income for the quarter after deducting non-controlling interests was EUR 499 million compared to EUR 461 million in the prior-year period. Earnings per preferred share (EPS) rose from EUR 0.96 to EUR 1.02. After adjustment, EPS increased by 8.4%, from EUR 1.07 in the second quarter of 2013 to EUR 1.16.
For the first half, the company reported sales of EUR 8,066 million, 3.0% below the figure for the prior-year period. Adjusted operating profit increased by 2.7%, from EUR 1,260 million to EUR 1,293 million. There was a very strong increase in adjusted return on sales (EBIT margin) from 15.1% to 16.0%, with all business units contributing. Adjusted net income was EUR 963 million compared to EUR 902 million in the same prior-year period. After deducting non-controlling interests of EUR 12 million, adjusted net income increased by 8.3%, from EUR 878 million to EUR 951 million. At EUR 2.20, adjusted earnings per preferred share (EPS) exceeded the prior-year figure by 8.4%.
The company expects to generate organic sales growth of between 3% and 5% in the fiscal year 2014. The company anticipates that each business unit will generate organic sales growth within this range. In line with its 2016 strategy, the company also expects a slight increase in the share of sales from its emerging markets. Compared to the 2013 figures, the company expects adjusted return on sales (EBIT) to rise to around 15.5% and an increase in adjusted earnings per preferred share in the high single-digits.