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Henkel Q1 Group Sales Edge Up; Raises FY21 Earnings, Sales Growth View

German consumer goods maker Henkel AG & Co. KGaA (HENOY, HENKY) reported Thursday that its first-quarter sales reached 4.968 billion euros, up 0.8 percent on a reported basis, significantly impacted by currency headwinds.

Sales grew 8.3 percent adjusted for foreign exchange. Group organic sales growth was 7.7 percent with 1.7 percent rise in price and 6 percent increase in volume.

The company noted that all business units reported organic sales growth.

Further, Henkel raised guidance for fiscal 2021. The company now expects adjusted earnings per preferred share at constant exchange rates to increase in the high single-digit to mid-teens percentage range, while previous guidance was a growth of 5 percent to 15 percent percent.

The company now expects an adjusted return on sales or EBIT margin of between 14.0 and 15.0 percent, compared to previous guidance of 13.5 to 14.5 percent.

Further, organic sales growth is now expected between 4.0 and 6.0 percent in fiscal 2021, up from earlier expected growth of 2 percent to 5 percent.

Looking ahead to the rest of fiscal 2021, Henkel CEO Carsten Knobel said: "After the strong start to the year, we have raised our guidance and now expect higher growth in both sales and earnings for the full year."

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