Q2 2024 Henkel AG & Co KGaA Earnings Call Transcript
Key Points
- Henkel AG & Co KGaA (HELKF) reported a 2.9% organic sales growth at the group level for the first half of 2024.
- The Consumer Brands business delivered a standout performance with 4.3% organic sales growth.
- Adhesive Technologies achieved a 2.0% growth, driven by strong performance in the automotive sector and recovery in electronics.
- The company recorded a significant margin increase and an EPS increase, supported by portfolio optimization and supply chain efficiencies.
- Henkel AG & Co KGaA (HELKF) raised its earnings guidance for the full year 2024, reflecting strong business performance and confidence in meeting mid to long-term financial targets.
- North America sales declined organically by 1.6%, impacted by ongoing portfolio measures and challenging market conditions.
- The company faced a challenging environment in the general manufacturing and maintenance business, which remained slightly below the prior year.
- Despite strong performance, the Consumer Brands business experienced muted volume growth due to portfolio measures.
- Henkel AG & Co KGaA (HELKF) anticipates an increase in raw material prices in the second half of the year, which could impact margins.
- The company continues to face competitive pressures and increased promotional intensity in the consumer business, particularly in home care.
Good morning and welcome to the Henkel conference call. For the duration of the call, you will be on listen-only. (Operator instructions) I will now hand over to Leslie Iltgen, Head of Investor Relations. Please go ahead.
Thank you and good morning and a warm welcome to everyone joining our call at Henkel's half year performance. I'm Leslie Iltgen, Head of Henkel's Investor Relations. Today, I'm joined by our CEO, Carsten Knobel, and our CFO, Marco Swoboda. Carsten will begin with an overview of the key developments and highlights in the first half.
Marco will then follow with a more detailed review of the financial performance. As always, following the presentation, we will open up the lines and Carsten and Marco will be happy to take your questions.
Before handing over to Carsten, please let me remind you that this call will be recorded and a replay will be made available on our Investor Relations website shortly after this call. By asking a question during the Q&A
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