German Henkel has had a record second quarter, when turnover reached nearly 5.1 billion euro. For the first time ever, its six-month turnover surpassed the 10 billion euro milestone, thanks to its acquisition of laundry detergent company Sun.
Sun gives Henkel a boost
The German company, which owns brands like Pritt, Schwarzkopf and Persil, acquired American laundry detergent company Sun last year for 3.6 billion dollar. It proved to be the right move, because its most recent quarterly results show that it now has a 5.098 billion euro turnover, up 9.6 % compared to last year. Autonomous turnover growth (excluding acquisitions and exchange rate fluctuations) reached 2.2 %, despite “a highly challenging market environment”, as expressed by CEO Hans Van Bylen.
Henkel’s profit also grew: the company’s second quarter profit reached 839 million euro (compared to 757 million euro last year) and its net profit also grew, from 561 to 624 million euro.
For the first time ever, the company’s six-month turnover surpassed the 10 billion euro mark, to 10.162 billion euro (+ 11.5 % and + 3.1 % organically). Nevertheless, the board is still vigilant: it forecasts a 2 to 4 % full-year autonomous turnover growth, a performance it expects each of its divisions (Adhesive Technologies, Beauty Care and Laundry & Home) to achieve.