German household consumer products maker Henkel AG & Co. KGaA (HENKY.PK,HENOY.PK) on Monday confirmed its fiscal 2013 forecast for higher earnings and sales despite the overall difficult market conditions. At Henkel's Annual General Meeting today, CEO Kasper Rorsted also outlined Henkel´s new strategy and financial targets for the period through 2016.
For 2013, the company continues to project organic sales growth of 3 to 5 percent, with adjusted return on sales rising to around 14.5 percent and adjusted earnings per preferred share increasing by around 10 percent. Adjusted earnings per preferred share in 2012 was 3.70 euros.
Referring in particular to the challenging situation in the Eurozone, the company noted that the global economic environment will remain difficult.
The company also said that a number of major industrial sectors recorded weaker growth than expected during the first months of 2013. However, Henkel expects an improving development during the second half of the year.
While reviewing its successful performance over the preceding four years and referring to the challenging economic environment between 2008 and 2012, Rorsted said, "We stayed on track and implemented our strategy. Despite all the headwinds, we succeeded in achieving our targets and even exceeding them."
In early March, Henkel reported a higher fourth-quarter profit, benefited by growth from all of its business sectors.
At the Annual General Meeting, Henkel is proposing to increase its dividend per preferred share to 0.95 euros from 0.80 euros and the dividend per ordinary share to 0.93 euros from 0.78 euros. This amounts to a total payout of about 410 million euros.
Looking at the future development of the company, Rorsted said, "With our successful development during the last four years and a record year in 2012, we have laid a strong foundation for the next four years through 2016."
The company will announce further details while publishing first-quarter results on May 8.
On Frankfurt's Xetra, Henkel shares are currently trading at 72.58 euros, up 0.49 euros or 0.67 percent.
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