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Henkel to 2010, more profitable

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HB DUSSELDORF. Henkel has stopped at the end of the rapid descent of his ailing adhesives division and in 2009 it survived almost without major scarring. 2010, the manufacturer of Persil, Pritt and sales will cut more than its competitors and operate more profitably.

Thanks to the final sprint from October to December "could Henkel complete the recession year of 2009 as a whole better than anticipated, "summed up the Dusseldorf group said Thursday. In the economic crisis, particularly hard-hit industries and adhesives division, which accounts for nearly half of consolidated sales could decline in revenues will be significantly slowed down. The division’s revenue declined in the fourth quarter to 1.5 (previous year: 1.66) billion, operating profit (EBIT) gave in on 59 (147) million. Organic – ie adjusted for foreign exchange and sales – sales still fell by 0 , 7 per cent – considerably less than in the past. In the second quarter had been a decrease of 15.4 percent in the books. The division supplies most of the crisis-hit sectors like auto, construction and electrical industries.

When generated detergents and cosmetics Henkel almost stable in the fourth quarter sales and earnings. In the Group sales edged down to 3.3 (3.5) billion. Organically registered Henkel even an increase of 0.6 percent. The consumer products manufacturer Procter & Gamble and Colgate-Palmolive had recorded higher sales of the year.

For the full year is now, according to preliminary figures, sales declined by 3.5 percent to 13.57 billion euros in the books. Even German rivals such as Beiersdorf 2009 must have had feathers. The operating result (EBIT) grew at Henkel also thanks to a rigid austerity on 1.08 billion (previous year: 779 million) euros. The one-off expenses, income, and restructuring costs, adjusted EBIT was 1.36 (1.46) billion.

For 2010, the Group expects adjusted earnings per preferred share and adjusted operating profit "significantly improved" compared to the values of the previous fiscal year.

A specific forecast for 2009 had HenkelHead Rorsted because of economic uncertainty has not been provided. The group had been completed at the end of a rigid austerity program that included the elimination of about 3,000 jobs. More job cuts had Rorsted not excluded in the past.