Henkel to Merge Businesses, Launch EUR1 Billion Share Buyback
28 Gennaio 2022 - 9:31AM
Dow Jones News
By Cecilia Butini
German home and personal-care products company Henkel AG &
Co. KGaA said Friday that it intends to merge its
laundry-and-home-care and beauty-care divisions into one unit to be
called Henkel Consumer Brands, and that it will launch a
share-buyback program with a total value of up to one billion euros
($1.11 billion).
The company also reported preliminary results for 2021, and set
targets for 2022 and for the mid-to-long term.
In the mid-to-long term, Henkel said it is pursuing organic
sales growth of 3% to 4% and an adjusted margin on earning before
interest, taxes, depreciation and amortization of around 16%.
The company said it is also targeting growth in adjusted
earnings per share in the mid-to-high single-digit percentage
range. The targets are based on the planned division merger, which
the company said is expected to generate "significant
synergies."
The planned share-buyback program is set to run from February
2022 to March 31, 2023, the company said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
January 28, 2022 03:16 ET (08:16 GMT)
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