Henkel delivers good organic sales growth in the first quarter of 2026

• Group sales: around 5.0 billion euros, organic growth +1.7 percent
• Organic sales growth driven by both business units, each with positive volume and price developments:
  • Adhesive Technologies: organic sales growth of 1.7 percent
  • Consumer Brands: organic sales growth of 1.8 percent
• Successful execution of the M&A growth strategy:
  • Five transactions representing a total sales volume of around 1.6 billion euros
  • Three deals already successfully closed: Wetherby Laroc, ATP Adhesive Systems, Not Your Mother’s
• Share buyback program of around 1 billion euros successfully completed at the end of March
• Outlook for fiscal 2026 unchanged:
  • Organic sales growth: 1.0 to 3.0 percent
  • Adjusted return on sales: 14.5 to 16.0 percent
  • Adjusted earnings per preferred share ‏(EPS): increase in the low to high single-digit percentage range ‏(at constant exchange rates)

In the first quarter of 2026, Henkel generated Group sales of around 5.0 billion euros and achieved good organic growth of 1.7 percent. The increase was driven by both business units, each with positive volume and price developments.

“In a challenging environment, we delivered good organic sales growth in the first quarter, driven by both business units. We achieved price and volume growth in both Adhesive Technologies and Consumer Brands,” said Henkel CEO Carsten Knobel.

“At the same time, we are consistently executing our strategic agenda and investing in the expansion of our businesses. This also includes the recently announced acquisitions in both business units, which together represent almost 1.6 billion euros in additional sales. In the meantime, we have already successfully closed three of the five transactions. The outlook for 2026 remains unchanged. We continue to see Henkel well on track for sustainable, profitable growth,” continued Carsten Knobel.    

The good organic sales growth in the Adhesive Technologies business unit in the first quarter was driven primarily by very strong growth in the Mobility & Electronics business area. The good organic sales development in the Consumer Brands business unit was mainly due to a very strong increase in the Hair business area.

Group sales performance

Group sales in the first quarter of 2026 totaled 4,952 million euros, a nominal decrease of -5.5 percent compared to the prior-year quarter (5,242 million euros). Organically (i.e. adjusted for foreign exchange and acquisitions/divestments), sales increased by 1.7 percent. Both price and volume showed a positive development. Acquisitions/divestments reduced sales by -2.1 percent. Foreign exchange effects also had a negative impact on sales performance of -5.2 percent.   

Organic sales development in the Europe region amounted to -3.4 percent in the first quarter. In the IMEA region, sales increased organically by 12.8 percent. Organic sales performance was positive in North America at 0.9 percent. In Latin America, organic sales were -3.1 percent below the prior-year quarter. The Asia-Pacific region achieved organic sales growth of 10.3 percent. 

Sales performance Adhesive Technologies

The Adhesive Technologies business unit achieved sales of 2,627 million euros in the first quarter of 2026, representing a nominal decrease of -3.2 percent compared to the prior-year quarter. Organically (i.e. adjusted for foreign exchange and acquisitions/divestments), sales increased by 1.7 percent versus the prior-year quarter, driven by positive developments in both price and volume. Foreign exchange effects reduced sales by -5.2 percent. Acquisitions/divestments had a slightly positive impact of 0.2 percent.

The good organic sales performance of the Adhesive Technologies business unit in the first quarter was driven primarily by the Mobility & Electronics business area, which posted very strong organic sales growth of 6.7 percent. This growth was driven by the Electronics and Industrial businesses, while the Automotive business declined in a continued challenging environment. The Packaging & Consumer Goods business area showed a positive organic sales development of 0.5 percent overall, driven by a good performance in the Consumer Goods business. In contrast, the Packaging business recorded a slight decline. The Craftsmen, Construction & Professional business area recorded a decline in organic sales of -2.3 percent compared to the prior-year quarter. This development was due to the Consumer & Construction business, while the General Manufacturing & Maintenance business recorded positive growth.

From a regional perspective, the performance of the Adhesive Technologies business unit was mixed overall. In Europe, organic sales were below the prior-year quarter due to developments in all three business areas. The North America region posted a flat sales development in an overall challenging market environment, supported by good organic sales development in the Mobility & Electronics business area. The IMEA region achieved very strong organic sales growth, driven in particular by a double-digit organic sales increase in the Mobility & Electronics and Packaging & Consumer Goods business areas. The Latin America region recorded a decline in growth, due to the Mobility & Electronics and Packaging & Consumer Goods business areas. The Asia-Pacific region posted double-digit organic growth, in particular driven by a double-digit increase in sales in the Electronics business in China. 

Sales performance Consumer Brands

In the Consumer Brands business unit, sales in the first quarter of 2026 totaled 2,285 million euros, a nominal decrease of -8.0 percent versus the prior-year quarter. Organically (i.e. adjusted for foreign exchange and acquisitions/divestments), sales increased by 1.8 percent. The business unit recorded both positive price and volume development compared to the first quarter of 2025. Foreign exchange effects had a negative impact of -5.2 percent on sales. Acquisitions/divestments also reduced sales by -4.6 percent.   

In the first quarter, the Laundry & Home Care business area posted flat organic sales development of 0.1 percent. The Laundry Care business showed a slight decline overall, which was mainly due to the Fabric Cleaning category, while the Fabric Care category recorded significant growth. The Home Care business, by contrast, achieved positive organic sales growth, driven mainly by double-digit sales growth in the Hand Dishwashing category.

The Hair business area achieved a very strong organic sales increase of 5.1 percent. The Consumer business posted very strong growth, with the strongest contribution coming from the Hair Colorants category. The Professional business also showed very strong development.

The Other Consumer Businesses business area recorded positive organic sales development of 0.5 percent, driven primarily by significant organic sales growth in the Body Care business in the North America region.

From a regional perspective, organic sales development in all regions – with the exception of Europe – was above the prior-year level. The IMEA region posted a double-digit organic sales increase, driven by double-digit organic sales growth in the Laundry & Home Care and Hair business areas. Europe, by contrast, recorded a decline due to the Laundry & Home Care business area, while the Hair business area posted a positive development. The North America region recorded good organic sales growth, driven by a very strong increase in sales in the Hair business area. The Asia-Pacific region showed very strong sales growth, driven by double-digit organic sales growth in the Hair business area. The Latin America region generated good organic sales growth, driven by the Laundry & Home Care and Hair business areas. 

Net assets and financial position of the Group

No substantial changes to the net assets and financial position of the Group occurred in the period under review compared to the situation as at December 31, 2025.

Outlook for the Henkel Group

For the current year, Henkel continues to expect organic sales growth of between 1.0 and 3.0 percent. For the Adhesive Technologies business unit, organic sales growth in the range of 1.0 to 3.0 percent is expected. For Consumer Brands, we anticipate an organic sales increase of 0.5 to 2.5 percent. 

Adjusted return on sales ‏(adjusted EBIT margin) is still expected to be in the range of 14.5 to 16.0 percent. Adjusted return on sales is anticipated to be between 16.5 and 18.0 percent for Adhesive Technologies and between 14.0 and 15.5 percent for Consumer Brands. 

Adjusted earnings per preferred share ‏(EPS) at constant exchange rates are still expected to increase in the low to high single-digit percentage range.

Furthermore, we have the following expectations for 2026:

• Acquisitions/divestments: positive effect in the low single-digit percentage range on nominal sales growth ‏(previously: neutral to slightly negative effect)
• Translation of sales in foreign currencies: negative impact in the low single-digit percentage range
• Prices of direct materials: high single-digit percentage increase compared to the previous year’s average (previously: low single-digit percentage increase)¹
• Restructuring expenses of 150 to 200 million euros
• Cash outflows from investments in property, plant and equipment and intangible assets of between 650 and 750 million euros

_{¹ Gross direct material price development, i.e. before countermeasures.}

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