Henkel's preliminary Q3 EBIT up 52% on lower restructuring cost

29 October 2009 11:13  [Source: ICIS news]

LONDON (ICIS news)--Henkel’s preliminary third-quarter operating profit increased 52% year on year to €290m ($426m) on lower restructuring charges, said the German adhesives and soap maker said on Wednesday.

Excluding one-time and restructuring charges, adjusted operating profit (earning before interest tax, depreciation and amortisation [EBIT]) fell slightly from €391m to €385m, the company added in a statement.

The company’s sales also fell – they were down 7% to €3.49bn.

Due to the volume declines suffered by major customer industries, the Adhesive Technologies business sector saw third-quarter EBIT fall from €169m to €89m on the same period last year.

“We [the Group] outperformed market expectations for our earnings development in the third quarter,” said Henkel management board chairman Kasper Rorsted.

“This reflects both the stabilisation in our markets and our programmes on structural and cost alignment,” he added.

Rorsted said the company did not expect fourth-quarter results to be as strong.

Henkel is due to publish its consolidated third-quarter results on 11 November.

($1 = €0.68)

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By: Lucy Craymer
+44 20 8652 3214

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