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Henkel Raises 2022 Organic Sales Growth Outlook

Germany's Henkel raised its 2022 outlook for organic sales based on strong sales growth in its adhesives unit, the company noted on Tuesday.

The chemical and consumer goods company now expects organic sales growth of between 5.5% and 7.5% from a previous range of 4.5% to 6.5%, Henkel said on its Capital Markets Day.

The company had also raised its 2022 organic sales outlook in August on the back of a sales boost during the first half.

Updated Outlook

"In view of the continued strong sales growth in Adhesive Technologies, today we have updated the outlook for fiscal 2022 for both the Adhesive Technologies business unit and the Henkel Group," said Carsten Knobel, chief executive, Henkel. 

Sales targets for its cosmetics and detergents business remain unchanged.

Henkel is currently undergoing a restructuring, with Knobel merging the cosmetics business with the detergents division.

Slow Demand 

On the 5 May, the company announced that it was planning to cut 2,000 jobs in response to rising costs and low demand for its shampoos and hair sprays and that it was aiming to make €500 million ($530 million) in gross savings in the medium-term from the merger of its cosmetics and detergents units.

The job cut and savings targets, illustrate the depth of problems facing consumer goods companies as they find ways to offset rising costs which cannot be passed on to customers, Henkel noted.

Read More: Henkel To Cut 2,000 Jobs In Face Of Rising Costs, Slow Demand

News by Reuters, edited by Donna Ahern, Checkout. For more a-brand news, click here. Click subscribe to sign up for the Checkout print edition.

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