09 maj: Aktier/Europa: Blød landing efter rød dag
10 maj: ESTIMAT Torm Q1 10/5: Underskud før skat 53 mio. dollar
10-05-2012 01:30:00

CORRECT: Henkel Joins Some European Peers In Lauding US Recovery

Relateret indhold

(In "Henkel Joins Some European Peers In Lauding US Recovery," issued at 1733 GMT, the geographic area was misstated brackets in the 16th paragraph. The correct version follows:)

By Sten Stovall and Simon Zekaria

Of DOW JONES NEWSWIRES

LONDON -(Dow Jones)- Henkel AG & Co. KGaA (HEN.XE), maker of laundry detergents, beauty products and consumer and industrial glues, Wednesday said it was experiencing a recovery in the U.S. market, echoing comments by some other European companies relying on overseas markets to compensate for the economic woes hitting sales back home.

The company, the world's biggest producer of glues used in everything from cell phones to autos, aircraft to refrigerators, as well as consumer products including Purex washing powder, Schwarzkopf hair products, and Right Guard deodorant, confirmed it is continuing to do well in China and emerging markets, but the U.S. has also re-emerged as a growth market.

"We've come back. We had almost 7% growth in the U.S. during the first quarter this year, a recovery that started in the middle of last year," Henkel Chief Executive Officer Kasper Rorsted told Dow Jones Newswires.

Europe's companies are relying on growth outside the continent to compensate for continued economic problems that are causing sales to continue falling in countries like Greece, Spain and Italy. The situation is somewhat better in Northern Europe, particularly Germany, but continued concerns about the eurozone as a whole means executives at companies including manufacturers, consumer goods companies and retailers expect a tough situation for years to come.

"You will have [for] a long time very low growth rates in Europe and over time you might have some states leaving the euro, Rorsted said.

But he doesn't believe the single currency will collapse, not least because such an event would prove disastrous for the continent." If the break up of the euro zone were to come tomorrow, you would have ten to twenty years of recession in Europe."

The return of growth in the U.S. is a definite plus for global companies like Henkel and it contributed to the company reporting a surge in first-quarter profits Wednesday.

"It's an election year there and I think it's important that you take that into consideration but the North American Economy is starting to pick up again," Mr Rorsted, 50, said in an interview.

He applauded the U.S. for taking much quicker corrective action after the 2008 financial crisis than Europe, although he warned the recovery there is still likely to be slow. He says he's optimistic for the medium term, but says growth is unlikely to reach single-digit levels any time soon.

Other European companies that have highlighted a US recovery include manufacturing giant Siemens AG, power and technology company ABB Ltd. (ABBN.VX), and carmakers Volkswagen AG (VOW.XE) and Daimler AG (DAI.XE). The experience isn't yet universal, with companies including chemicals giant BASF SE (BAS.XE) and truckmaker Volvo AB (VOLV-B.SK) among those still reporting weakness.

Henkel reported a 29.5% increase in net profit to EUR269 million in the first quarter, better than a 4.8% rise in sales to EUR4 billion because it reduced costs. Nearly all the growth was organic and the company, a rival to the likes of Procter & Gamble Co. (PG) and Unilever PLC (UN.LN) in the consumer market, said it wasn't expecting to make any significant acquisitions in the short-term. It said it managed to raise prices to overcome rising raw material costs.

Mr Rorsted, a Dane who has led the 135-year old German company for four years and was recently mandated by the board to run the company for a further five years at least, said he wasn't concerned by an apparent slowing of the phenomenal growth of China in recent years. The company has pushed hard into China, now its fourth biggest market, and expects to have opened the world's largest adhesives plant in Shanghai by the end of the year.

"If I look at the overall Chinese economic growth, it's now predicted to run at between 8% and 8.5% and last year it was between 9% and 9.5%. We think that overall it will continue to grow. You might see an overall slowdown in the next number of years from 15% to the high-single-digits but we still believe that there is still tremendous opportunity in China because what the Chinese government is doing is also trying to stimulate local consumption. Until now it's been very export-driven and they've been very focused on stimulating it, so I'm not concerned about it," Mr Rorsted said.

The picture across emerging markets is one of moderating growth in years to come, he added, with some countries like Brazil showing evidence of weakening faster than others.

Today, 41% of Henkel's revenues come from emerging markets, and that percentage is set to increase.

"Looking at the trajectory, last year we grew 5.9% [globally]. The year before was 6.5% and we're growing 4.7% in this quarter. We're growing consistently at almost twice the rate of GDP. In that context I'm very happy with the footprint that we have -- but I'm not satisfied. It's clear over time that we need to add one or two percentage points to emerging markets in the years that are coming, and we are on track for that."

Mr Rorsted's tenure so far has been marked by restructuring the company and focusing on brands it considers have the best growth potential. His strategy for the following years will include a continued focus on innovation, a key differentiator in both the consumer products market and for its technologically advanced glues.

Investors clearly believe in Henkel's growth plans. The company's shares ended up 2.4% at EUR46.04 Wednesday, not far off the all-time high of EUR47.44 hit Monday. The stock's 15.6% increase in 2012 so far is substantially outperforming a 4.5% rise in the value of the DAX, Germany's bluechip index.

-By Sten Stovall, Dow Jones Newswires; +44 207 842 9292; sten.stovall@dowjones.com

(END) Dow Jones Newswires

May 09, 2012 19:30 ET (23:30 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Aktier/tendens: Dongs solgte olieforretning tager fokus - NY

24-05-2017 08:18:00
Dong stryger i fokus onsdag morgen med en aftale om salg af sin olie- og gasforretning inden den forlængede weekend. Forretningsdelen blev sat til salg i efteråret, og køberen er Ineos, der tidligere har været rygtet som mulig køber.Prisen kan løbe op i 8,7 mia. kr. og ændrer ikke ved 2017-forventningerne. Dong-aktien steg tirsdag 0,6 pct. til 281,80 kr.C20 Cap-indekset sluttede tirsdag med en sti..

KORR: Topdanmark Q1: Gode resultater giver plads til opjustering

23-05-2017 16:10:36
(Korr: Periodens resultat i Q1 17 er rettet i tabel)Forsikringskoncernen Topdanmark kom ud af det første kvartal i år med et nettooverskud på 415 mio. kr., hvilket var bedre end analytikernes forventninger, og selskabet opjusterer forventningerne til 2017.Ifølge et estimat, som Ritzau Estimates har indsamlet, havde analytikerne ventet et overskud på 318 mio. kr. i kvartalet.I samme periode af 2016..

Gigantisk vindprojekt går efter 100 pct. PTC trods 2021/23-afslutning

23-05-2017 14:04:08
Et selskab under Denver-baserede The Anschutz Corporation, som den amerikanske multimilliardær Philip Anschutz står bag, går efter at få tildelt PTC-støtte til den fulde sats, selv om halvdelen af det gigantiske vindprojekt på 3000 megawatt først planlægges opført i 2021-2023.Det bekræfter udviklingsselskabet bag projektet, Power Company of Wyoming (PCW), over for Ritzau Finans.Hos Sydbank betegne..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Gigantisk vindprojekt går efter 100 pct. PTC trods 2021/23-afslutning
2
Trump holder fingrene fra medicinpriserne i USA trods kritik - citat
3
Aktier/middag: Tunge spillere som Novo sender C20 sydover
4
Zealand: Partner ser mulighed for kunstig bugspytkirtel i 2020/21
5
Tirsdagens aktier: Topdanmark stjal scenen på stille dag for C20

Relaterede aktiekurser

Volvo AB ser B 142,60 -0,5% Fald i aktiekurs
ABB Ltd N 24,35 0,4% Stigning i aktiekurs
Unilever DR 49,81 0,2% Stigning i aktiekurs
Unilever PLC ORD 3 1/9P 4.195,50 0,1% Stigning i aktiekurs
Procter & Gamble Company.. 86,08 0,0% Aktiekurs uændret
Unilever NV 55,40 0,0% Aktiekurs uændret
Unilever PLC 54,20 0,0% Aktiekurs uændret
ABB Ltd 24,85 0,0% Aktiekurs uændret
Basf SE Basf SE REG SHS 85,53 -0,5% Fald i aktiekurs
ABB Ltd 217,30 0,2% Stigning i aktiekurs
Volkswagen 142,97 0,6% Stigning i aktiekurs
VW 155,30 0,2% Stigning i aktiekurs
VW VZ 150,20 0,0% Aktiekurs uændret
Procter Gamble 76,22 0,0% Aktiekurs uændret
Basf N 92,85 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
24. maj 2017 10:01:07
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20170517.1 - EUROWEB6 - 2017-05-24 10:01:07 - 2017-05-24 10:01:07 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x