Henkel: raises growth forecasts again
(CercleFinance.com) - On Tuesday Henkel further raised its forecasts for FY 2022 ahead of a CMD at its Düsseldorf headquarters.
The German consumer goods manufacturer is now targeting organic growth of 5.5% to 7.5% for the year, up a point from +4.5% to +6.5% previously.
This is the third time since the start of the financial year that the German group has raised its growth target, which was initially set at +2%/4% before being raised to +3.5%/5.5%, and now +4.5%/6.5%.
However, these new targets are only driven by the adhesives division and are in line with (or slightly below) the Alpha consensus of 7%, RBC analysts said.
Despite the better outlook, these announcements resulted in the share falling by 0.9% on Tuesday morning in Frankfurt, underperforming the market (down just 0.1%).
Having fallen by 13% YTD, the share has still outperformed the 19% fall in the market.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The German consumer goods manufacturer is now targeting organic growth of 5.5% to 7.5% for the year, up a point from +4.5% to +6.5% previously.
This is the third time since the start of the financial year that the German group has raised its growth target, which was initially set at +2%/4% before being raised to +3.5%/5.5%, and now +4.5%/6.5%.
However, these new targets are only driven by the adhesives division and are in line with (or slightly below) the Alpha consensus of 7%, RBC analysts said.
Despite the better outlook, these announcements resulted in the share falling by 0.9% on Tuesday morning in Frankfurt, underperforming the market (down just 0.1%).
Having fallen by 13% YTD, the share has still outperformed the 19% fall in the market.
Copyright (c) 2022 CercleFinance.com. All rights reserved.