Henkel posts organic sales increase in Q1, but volumes down
Reuters
Published May 04, 2023 07:53
BERLIN (Reuters) - Henkel on Thursday posted a rise in organic sales for the first quarter, with a year-on-year increase of 6.6% to 5.6 billion euros ($6.21 billion).
The increase slightly exceeded analysts' expectations of a sales volume of 5.4 billion in the quarter, according to Refinitiv estimates.
Sales volumes decreased by 5.4% during the period, slightly below a consensus of -5.2%.
Henkel shares fell 2.1% in early Frankfurt trade.
"Group volumes missed consensus a tad ... and remain weak overall," said a Credit Suisse (SIX:CSGN) analyst.
The consumer goods company, home to the Pritt and Persil brands, also confirmed its outlook for 2023, with sales growth of between 1 and 3% and adjusted return on sales of between 10 and 12% expected.
($1 = 0.9024 euros)
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Written By: Reuters
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