Henkel AG & Co. KGaA (HENOY.PK) reported first-quarter net income of 403 million euros, compared to 370 million euros last year. After deducting 10 million euros attributable to non-controlling interests, quarterly net income amounted to 393 million euros compared to 361 million euros last year. Earnings per preferred share rose to 0.91 euros from 0.84 euros.
Adjusted net income for the quarter after deducting non-controlling interests was 417 million euros compared to 369 million euros prior-year. Adjusted profit per preferred share was 0.96 euros for the quarter.
Sales were 4.03 billion euros; an increase of 0.6 percent year on year. Organic sales growth, which excludes the impact of foreign exchange and acquisitions/divestments, rose by 2.5 percent.
Henkel CEO, Kasper Rorsted, said, "Both Laundry & Home Care and Beauty Care outperformed their relevant markets while our Adhesives business was affected by weaker than expected demand from industrial customers. Nevertheless, we were able to substantially improve the profitability of all our business sectors."
The company confirmed previously stated outlook for fiscal 2013: Henkel expects organic sales growth for the full fiscal year to be between 3 and 5 percent. The company expects adjusted EBIT margin to increase to around 14.5 percent and adjusted earnings per preferred share to grow by about 10 percent.
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