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A-Brands

Henkel CEO Says Clouded Economic Outlook Makes Planning Tough

By Steve Wynne-Jones
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Henkel CEO Says Clouded Economic Outlook Makes Planning Tough

A clouded economic outlook means it is impossible for Henkel to plan for the coming weeks with certainty at the moment, the chief executive of the chemical and consumer goods company told the Frankfurter Allgemeine Zeitung.

"We live in a time when it is impossible to reliably plan what will happen in the coming weeks," Carsten Knobel told the newspaper in comments published on Wednesday.

"We are still assuming cost increases in the mid-20 percent range, which has been consolidated at this level over the past months," he added. "But it is still too early to say how things will go in 2023."

Raised Outlook

Last month, Henkel raised its 2022 outlook for organic sales based on strong sales growth in its adhesives unit.

The home care company now expects organic sales growth of between 5.5% and 7.5% from a previous range of 4.5% to 6.5%, Henkel said in a statement to coincide with its Capital Markets Day.

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Restructuring Process

Henkel is currently undergoing a restructuring, with Knobel overseeing merging of the cosmetics business with the detergents division, described as an "important strategic step" by the chief executive.

Elsewhere, Henkel recently announced the acquisition of the Thermal Management Materials business, marketed as Thermexit, from Nanoramic.

Nanoramic is a US-based R&D company focused on developing high-end energy storage and thermal management technologies based on carbon composites.

With this acquisition, Henkel, which has significant presence in beauty and home care, aims to strengthen the position of its Adhesive Technologies business unit.

News by Reuters, edited by ESM. For more A-Brands news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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