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Henkel H1 Adj. EBIT Down; Lifts FY Organic Sales Growth Outlook

Henkel (HENOY.PK,HENKY.PK) reported that its adjusted operating profit or adjusted EBIT for the first half of 2022 declined 18.5% to 1.17 billion euros from last year's 1.43 billion euros mainly due to significantly higher prices for direct materials.

Adjusted earnings per preferred share were at 1.95 euros in the first half of 2022. At constant exchange rates, it represented a decline of 20.8 percent compared to the prior-year period.

Group sales for the first half of 2022 were 10.91 billion euros, up 9.9 percent from the prior-year level, driven by all business units and regions. Organic sales were up 8.9 percent.

Henkel now expects organic sales growth of 4.5 to 6.5 percent in fiscal 2022 compared to the prior outlook of 3.5 to 5.5 percent growth. Adjusted EBIT margin at Group level is expected to remain unchanged in the range of 9.0 to 11.0 percent. For the development of adjusted earnings per preferred share at constant exchange rates, Henkel continues to expect a decline in the range of 15 percent to 35 percent.

Henkel has enhanced its long-term sustainability strategy with its new "2030+ Sustainability Ambition Framework", introduced at the beginning of this year.

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