HENOF - Henkel AG & Co. KGaA (HENKY) Q1 2025 Earnings Call Transcript

2025-05-10 15:11:47 ET

Henkel AG & Co. KGaA (HENKY)

Q1 2025 Earnings Conference Call

May 8, 2025 3:00 AM ET

Company Participants

Leslie Iltgen – Head-Investor Relations

Carsten Knobel – Chief Executive Officer

Marco Swoboda – Chief Financial Officer

Conference Call Participants

Guillaume Delmas – UBS

Fulvio Cazzol – Berenberg

Rashad Kawan – Morgan Stanley

Tom Sykes – Deutsche Bank

Patrick Folan – Barclays

Presentation

Leslie Iltgen

Good morning to everyone here on the call. A warm welcome to everyone joining Henkel's Q1 2025 Results Conference Call today. I'm Leslie Iltgen, Head of Henkel's Investor Relations. Today, I'm joined by our CEO, Carsten Knobel; and our CFO, Marco Swoboda. Carsten will begin with an overview of the key developments and highlights in the first quarter.

Marco will follow with a more detailed review of the financial performance. As always, following the presentation, we will open up the lines and Carsten and Marco will be happy to take your questions.

Before handing over to Carsten, please let me remind you that this call will be recorded and a replay will be made available on our Investor Relations website shortly after this call. By asking a question during the Q&A session, you agree to both the live broadcasting as well as the recording of your question, including salutation to be published on our website.

Also, please be reminded that this presentation contains the usual formal disclaimer in regard to forward-looking statements within the meaning of relevant U.S. legislation. It can also be accessed via our website at henkel.com. As always, the presentation and discussion are conducted subject to this disclaimer.

With this, it is my great pleasure to hand over to our CEO, Carsten Knobel. Carsten, please go ahead.

Carsten Knobel

Thanks, Leslie, and a warm welcome also from my side to everyone joining our conference call today. And as always, we do appreciate your interest in our company, and we look forward to answering your questions. After walking you through the key developments of the first quarter, we will elaborate on Henkel's business performance and the full year outlook in more detail.

So let me move straight to the key topics and the highlights of the first quarter. Our first quarter topline came in softer, in line what we had indicated in our full year call in March. On group level, Henkel recorded a minus 1% organic net sales growth. Our consumer business reported minus 3.5% and thus came in within the expected range, also reflecting high prior year comparables due to strong innovation launches in the first half of 2024....

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