Henkel raises 2022 forecast thanks to booming adhesives business

BERLIN, Nov 8 (Reuters) – Germany’s Henkel raised its full-year sales and profit guidance on Tuesday after reporting a 17 percent rise in third-quarter sales to 5.98 billion euros ($5.98 billion). Benefit from the price increase of its adhesive products.

The adhesives division’s sales rose 22.6% in the July-September period and contributed half of the group’s sales.

The chemical and consumer products company said it now expects organic sales to rise 7% to 8% after previously forecasting growth of 5.5-7.5%. Adjusted return on sales is now expected to be 10-11% this year, not 9-11%.

Henkel is currently undergoing a restructuring, with CEO Carsten Knobel combining the cosmetics business with the detergent division.

(1 USD = 1.0002 EUR)

Reporting by Kirsti Knolle Editing by Paul Carrel

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