Henkel successful in the second quarter

Citation

(2003), "Henkel successful in the second quarter", Pigment & Resin Technology, Vol. 32 No. 6. https://doi.org/10.1108/prt.2003.12932fab.031

Henkel successful in the second quarter

Henkel successful in the second quarter

In the second quarter of 2003, after adjusting for foreign exchange effects, the Henkel Group recorded a 3.4 percent increase in sales to 2.4 billion euros and a 14.9 percent increase in operating profit (EBIT) to 180 million euros. "Due to efficient cost management we have been able to post a disproportionate increase in our operating profit" explains Professor Dr Ulrich Lehner, Chief Executive Officer of the Henkel Group. "We expect markets to stage a slow recovery in the second half of the year. On that basis we consider that the targets for the whole of 2003 are achievable". Sales in the Consumer and Craftsmen Adhesives business sector in the second quarter rose by 4.6 percent after adjusting for foreign exchange effects. Before adjustment, sales were down by 4.8 percent on the previous year's figure. Operating profit increased by 50.9 percent after adjusting for foreign exchange effects and by 30.0 percent before adjustment compared with the previous year. Whilst sales to the construction industry did not match the previous year's level, the position in consumer adhesives was further strengthened. After adjusting for foreign exchange effects, the Consumer and Craftsmen Adhesives business sector anticipates a double-digit percentage growth in operating profit for the whole of 2003.