Henkel Q Kasper Rorsted Carsten Knobel. Düsseldorf, August 12, 2015

Transcription

1 Henkel Q Kasper Rorsted Carsten Knobel Düsseldorf,

2 Disclaimer This information contains forward-looking statements which are based on current estimates and assumptions made by the corporate management of Henkel AG & Co. KGaA. Statements with respect to the future are characterized by the use of words such as expect, intend, plan, anticipate, believe, estimate, and similar terms. Such statements are not to be understood as in any way guaranteeing that those expectations will turn out to be accurate. Future performance and results actually achieved by Henkel AG & Co. KGaA and its affiliated companies depend on a number of risks and uncertainties and may therefore differ materially from the forward-looking statements. Many of these factors are outside Henkel's control and cannot be accurately estimated in advance, such as the future economic environment and the actions of competitors and others involved in the marketplace. Henkel neither plans nor undertakes to update any forward-looking statements. 2

3 Agenda 1. Key developments Q Financials Q Summary & outlook FY

4 Q2 2015: Solid performance in a challenging environment OSG +2.4% Adj. EBIT margin 16.4% Adj. EPS growth +11.2% OSG in EM +5.1% NWC in % of sales 6.6% Net financial pos. -634m 4

5 Delivering on profitable growth Sales increasing double-digit supported by FX, organic sales growth solid Emerging Markets with strong organic sales growth, Mature Markets positive Further improvement in adjusted EBIT margin Double-digit adjusted EPS growth Three acquisitions strengthening all business units: Laundry & Home Care: C-P detergents & prewash brands, Australia / New Zealand Adhesive Technologies: Novamelt GmbH, hotmelt adhesives, Europe / North America Beauty Care: Xtreme hairstyling brand, Mexico / Latin America - closed in July 5

6 Environment remains challenging Ongoing difficult geo-political situation, social tensions in some countries Moderate global GDP growth and volatile environment remain Adhesive Technologies below expectations, mixed SBU performance 6

7 Laundry & Home Care Solid OSG & strong margin improvement in Q Sales Return 10.8% Long-term overview 12.8% 13.0% 13.2% 14.5% 15.6% 16.2% 4,319 4,304 4,172 4,129 4,556 4,580 4,626 Solid OSG Laundry solid, Home Care strong Mature Markets positive North America positive Emerging Markets very strong Adj. EBIT margin showing strong increase ROCE below level of previous year (acquisitions & FX) 3.8% 2.9% 1.5% 2.9% 4.7% 5.7% 4.6% Sales in m Adj. EBIT margin OSG in % 7

8 Laundry & Home Care Strengthening innovation leadership across categories Bref Rim Blocks Escapes New Mileage Positioning Persil Power-Mix Caps New variants with innovative fragrance, building on global success Inspired by escapism : Hawaiian Plumeria Lei & Rio Carnival New & differentiating positioning of Value-for-Money brands in EM Delivers maximum yield & performance New caps range with a unique combination of liquid & powder Delivers best performance with superiority on bleachable stains 8

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10 Beauty Care Positive OSG & strong margin improvement in Q Sales Return Long-term overview 12.6% 12.9% 13.3% 14.2% 14.5% 15.0% 15.3% 3,269 3,399 3,542 3,510 3,547 3,016 3, % 3.5% 4.8% 5.4% 3.1% 3.0% 2.0% Sales in m Adj. EBIT margin OSG in % Positive OSG Retail solid, Hair Salon positive Mature Markets negative North America positive Emerging Markets very strong Adj. EBIT margin showing solid increase ROCE below level of previous year (FX) 10

11 Beauty Care Strengthening innovation leadership across categories Gliss Kur Oil Nutritive Fa Fresh & Dry Taft Ultimate 1 st Oil-Repair Range from Gliss Kur with precious Beauty-Oils & Keratin For healthy looking, shiny hair & up to 90% less split-ends* 1 st 48h reliable protection & all-day freshness activation from Fa Unique formula continuously releasing fragrance 1 st Taft range with hold level 6 for the strongest Taft-hold ever Formula with liquid crystal-glosseffect for luxuriously shiny hair 1 System usage Shampoo & Conditioner 11

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13 Adhesive Technologies Positive OSG & high margin level in Q Sales Return Long-term overview 10.1% 13.9% 15.1% 16.9% 17.2% 12.8% 8.1% 6,700 7,306 7,746 8,256 8,117 8,127 6, % -10.2% 11.8% 8.3% 3.6% 2.7% 3.7% Sales in m Adj. EBIT margin OSG in % Positive OSG Transport & Metal strong, Electronics solid General Industry & Packaging weak Mature Markets positive Emerging Markets solid Adj. EBIT margin at high level, below previous year ROCE below level of previous year (acquisitions) 13

14 Adhesive Technologies Fostering technology leadership with impactful activities Largest Adhesives Plant in India Pattex One for All Bonderite Conversion Coating Groundbreaking of new multifunctional factory near Pune Serving customers in automotive, metal & industrial sectors New, high-performance construction adhesive & sealant for DIY For all applications requiring high final strength, under all conditions New multi-metal pretreatment preventing flash rust, phosphate-free Higher efficiency in production process & increased sustainability 14

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16 Agenda 1. Key developments Q Financials Q Summary & outlook FY

17 Continuous commitment to profitable growth Sales in m, OSG in % Gross Margin Adj. in % EBIT Margin Adj. in % EPS Pref. Adj. in +2.4% +60bp +10bp +11.2% 4,137 4,

18 Focus on disciplined cash management NWC in % of Sales Free Cash Flow in m Net Financial Position in m +60bp - 63m - 790m

19 Double-digit nominal sales growth, balanced organic sales growth in m, changes in % +13.5% 4,137 OSG: +2.4% +1.2% +1.2% +7.3% +3.8% 4,695 Sales Q2/14 Price Volume FX M&A Sales Q2/15 19

20 Emerging Markets strong, Mature Markets positive in m, OSG in % Emerging Markets Mature Markets +5.1% +0.4% 1,844 2,047 2,261 2,617 Emerging Market sales share of 44% 20

21 Broad-based growth across regions in m, OSG in % Western Europe Eastern Europe Africa/Middle East +0.0% 1,450 1, % % North America Latin America Asia-Pacific +0.3% +8.4% +3.7% Mature markets with mixed dynamics Emerging markets driven by Mexico, Russia & India 21

22 Laundry & Home Care Fostering profitable growth path Sales in m, OSG in % EBIT Margin Adj. in % NWC in % of Sales 1, % 1, bp bp OSG driven by 0.5% in price and 3.8% in volume 22

23 Beauty Care Fostering profitable growth path Sales in m, OSG in % EBIT Margin Adj. in % NWC in % of Sales +1.9% +30bp -10bp 897 1, OSG driven by 1.6% in price and 0.3% in volume 23

24 Adhesive Technologies Positive OSG, profitability below high level of previous year Sales in m, OSG in % EBIT Margin Adj. in % NWC in % of Sales +1.7% -50bp +100bp 2,069 2, OSG driven by 1.5% in price and 0.2% in volume 24

25 Gross margin with very strong improvement Income statement adjusted Sales in m, nom. growth % Gross Profit in m Gross Margin in % of Sales 4, % 4, % +60bp ,969 2,265 25

26 Further increase in adjusted EBIT margin Income statement adjusted in m, % of sales 48.2% -25.0% 2, % -4.7% +0.5% 16.4% 768 Gross Profit Marketing, selling & distr. R&D Admin. OOI/OOE EBIT 26

27 Continuous adaptation of our structures to the market in m Reported EBIT Q2/15 One-time gains One-time charges Restructuring charges Adjusted EBIT Q2/15 27

28 Net financial position affected by higher dividend payout in m m

29 Agenda 1. Key developments Q Financials Q Summary & outlook FY

30 Q2 2015: Delivering on profitable growth Sales increasing double-digit supported by FX, organic sales growth solid Emerging Markets with strong organic sales growth, Mature Markets positive Mature Markets on 10bn sales run rate Further improvement in adj. EBIT margin Double-digit adj. EPS growth Executing on our strategy: three acquisitions 30

31 Executing on our strategy: recent acquisitions Novamelt GmbH Leading C-P Laundry Brands Xtreme Hairstyling Brand # 1 Laundry detergents, Australia # 2 Laundry detergents, New Zealand # 1 Hair Gel brand in Mexico Specialized hotmelt technologies Focus on Europe & North America Price 48m, closed in June Annual sales 2014 ~50m Coverage of key categories Leading positions in Australia & NZ Price 220m, signed in May Annual sales 2014 ~110m Full range of hairstyling products Leading positions in Mexico & LA Price 53m, closed in July Annual sales 2014 ~40m 31

32 Disciplined strategy execution continues in a volatile environment Moderate global GDP growth and volatile environment continuing Persisting geo-political tensions Strong innovation pipeline across all business units Continuous cost focus & adaptation of our structures Disciplined approach on acquisitions, very strong balance sheet 32

33 Highlights : on track for FY 2015 guidance 9.1bn Sales: up 1.1bn +3.0% OSG 1.5bn Adj. EBIT: up 14.0% 16.2% Adj. EBIT margin: up 20bp +12.3% Adj. EPS growth 33

34 Guidance FY confirmed Guidance FY 2015 Organic Sales Growth 3 5% Laundry & Home Care Beauty Care 3 5% ~2% Adhesive Technologies 3 5% Emerging Markets sales share At prior year level Adjusted EBIT Margin ~16% Laundry & Home Care Beauty Care All Business Units contributing Adhesive Technologies Adjusted EPS Growth ~10% 34

35 Upcoming events November 11 th, Q February 25 th, 2016 FY & Q May 19 th, 2016 Q June 6 th 7 th, 2016 Investor & Analyst Day, Adhesive Technologies, Germany 35

36 Thank you!

37 Guidance FY 2015 for selected KPIs - confirmed Guidance FY 2015 Total direct materials Stable prices Restructuring charges m CAPEX m 37

38 Key financials YTD (1/2) Sales in m, OSG in % Gross Margin Adj. in % EBIT Margin Adj. in % EPS Pref. Adj. in +3.0% 9,125 8, bp +20bp +12.3% /14 1-6/15 1-6/14 1-6/15 1-6/14 1-6/15 1-6/14 1-6/15 38

39 Key financials YTD (2/2) NWC in % of Sales Free Cash Flow in m Net Financial Position in m +60bp + 159m - 790m /14 4-6/15 1-6/14 1-6/15 4-6/14 4-6/15 39

40 Sales growth - YTD Henkel in m, changes in % +13.1% 8,066 OSG: +3.0 % +1.5% +1.5% +3.5% +6.6% 9,125 Sales 1-6/14 Price Volume FX M&A Sales 1-6/15 40

41 Further increase in adjusted EBIT margin Income statement adjusted - YTD in m, % of sales 48.7% -25.3% 4, % -4.9% +0.4% 16.2% 1,475 Gross Profit Marketing, selling & distr. R&D Admin. OOI/OOE EBIT 41

42 Reported to Adjusted EBIT - YTD in m 1, ,475 Reported EBIT 1-6/15 One-time gains One-time charges Restructuring charges Adjusted EBIT 1-6/15 42

43 Laundry & Home Care Key figures YTD Sales in m, OSG in % EBIT Margin Adj. in % NWC in % of Sales 2, % 2, bp +50bp /14 1-6/15 1-6/14 1-6/15 4-6/14 4-6/15 OSG driven by 1.4% in price and 3.4% in volume 43

44 Beauty Care Key figures YTD Sales in m, OSG in % EBIT Margin Adj. in % NWC in % of Sales +2.0% +30bp -10bp 1,753 1, /14 1-6/15 1-6/14 1-6/15 4-6/14 4-6/15 OSG driven by 1.9% in price and 0.1% in volume 44

45 Adhesive Technologies Key figures YTD Sales in m, OSG in % EBIT Margin Adj. in % NWC in % of Sales +2.5% -50bp +100bp 3,962 4, /14 1-6/15 1-6/14 1-6/15 4-6/14 4-6/15 OSG driven by 1.4% in price and 1.1% in volume 45