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Germany's Henkel raises 2024 outlook on strong Q1

Published 05/03/2024, 04:05 AM
Updated 05/03/2024, 04:15 AM
© Reuters. A logo of consumer goods group Henkel is pictured before its annual news conference in Duesseldorf March 8, 2012.  REUTERS/Ina Fassbender/File Photo
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BERLIN (Reuters) -German consumer goods company Henkel slightly raised its guidance for 2024 on Friday, saying strong performance in the first quarter had boosted its sales and earnings outlook.

The group raised its guidance for full-year organic sales growth, now expecting an increase of 2.5% to 4.5% compared with a previous target of 2.0% to 4.0%.

It now sees an adjusted return on sales (EBIT margin) in a range of 13.0% to 14.0%, having previously targeted 12.0% to 13.5%.

Quarterly sales came in at 5.3 billion euros ($5.69 billion), up 3% organically, according to preliminary figures.

© Reuters. A logo of consumer goods group Henkel is pictured before its annual news conference in Duesseldorf March 8, 2012.  REUTERS/Ina Fassbender/File Photo

The company said it would provide further details on sales development on May 8.

($1 = 0.9316 euros)

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