Henkel Roadshow Presentation Roadshow Presentation April 2018 2. ... Pacific 30 % North America 26 %...
Transcript of Henkel Roadshow Presentation Roadshow Presentation April 2018 2. ... Pacific 30 % North America 26 %...
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This information contains forward-looking statements which are based on current estimates and
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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. This document has
been issued for information purposes only and is not intended to constitute an investment advice or
an offer to sell, or a solicitation of an offer to buy, any securities.
May 2018Henkel Roadshow Presentation 2
Agenda
3
1. Strong Foundation, Consistent Performance
2. Key Developments and Financials Q1 2018
3. Henkel 2020+ Progress
4. Outlook FY 2018
Henkel Roadshow Presentation May 2018
Henkel: Three areas of competenceA global leader in brands and technologies
4
Consumer business
Laundry & Home Care
Industrial business
Adhesive Technologies Beauty Care
Henkel Roadshow Presentation May 2018
Well-diversified portfolio
5
Adhesive TechnologiesBeauty Care
Laundry & Home Care 33 %
19 % 47 % Western Europe
Asia - Pacific
30 %
North America 26 %
EasternEurope 14 %
Africa/ Middle East 6 %
Emerging Markets 40%
Latin America 6 %
1 Corporate sales not included (accounts for 1% of sales) Henkel Roadshow Presentation
17 %
Sales by region 20171Sales by business unit 20171
May 2018
Top positions across all business units
Consumer business
Laundry & Home Care
Industrial business
Adhesive Technologies Beauty Care
Global leading positions
#1 globally
Leading category / country positions
#3 Hair Coloration
#3 Hair Professional
#1 Europe
#2 North America / MEA7Henkel Roadshow Presentation May 2018
Strong and consistent performance
16.5 16.4 16.4
18.118.7
20.0
14.1%
15.4%15.8%
16.2%16.9%
17.3%
2012 2013 2014 2015 2016 2017
Profitable growth path
▪ Sales exceeding € 20 bn, strong organic sales growth with all business units contributing
▪ Continued improvement of adjusted EBIT margin and new high of € 3.5 bn in adjusted EBIT
▪ Adjusted EPS (preferred share) up by 9.1% to € 5.85, strong CAGR 2012-17 of 9.6%
+3.1%+3.0%+3.4%+3.5%+3.8%
Sales & Adjusted EBIT Margin development
Sales
€ bn
OSG %
Adj.
EBIT %
+3.1%
8Henkel Roadshow Presentation May 2018
Agenda
9
1. Strong Foundation, Consistent Performance
2. Key Developments and Financials Q1 2018
3. Henkel 2020+ Progress
4. Outlook FY 2018
Henkel Roadshow Presentation May 2018
Operating in a heterogeneous environmentQ1 2018 key macroeconomic developments
2 Q1 2018 avg. USD / EUR y-o-y
Significant weakness of major currencies, e.g. US-Dollar -15%2
Currency devaluation
Substantial feedstock price increases, driven by crude oil and force majeures
Commodity inflation
Moderate global GDP growth, IPX increasing by >3.5%
Strong industrial production1
Decelerating volume growth and ongoing competitive/pricing pressure
HPC markets mixed
1 Source: IHS Markit Q1 2018 Henkel Roadshow Presentation May 2018 10
Positive development in Q1 2018
▪ Positive organic sales growth driven by very strong performance of Adhesive Technologies
▪ Delivery difficulties in North American consumer goods businesses
▪ Significant headwinds from FX impacting top and bottom line
▪ Continuous improvement in Adjusted EBIT Margin supported by strong cost management focus
▪ Adjusted EPS above previous year
€ 4.8 bn +1.1%Sales Organic Growth
€ 842 m 17.4%Adjusted EBIT Adjusted EBIT %
+1.4%Adjusted EPS Growth
Henkel Roadshow Presentation May 2018 11
Committed to sustainable profitable growthKey Financials Q1 2018
Sales in €m, OSG in % Gross Margin Adj. in % EBIT Margin Adj. in % EPS Pref. Adj. in €
+1.1% -40bp +50bp +1.4%
x1 x2 2016 2017 x1 x2x1 x2
5,0644,835
47.947.5 16.9
17.41.41 1.43
Q1/17 Q1/18 Q1/17 Q1/18 Q1/17 Q1/18 Q1/17 Q1/18
Henkel Roadshow Presentation May 2018 12
Focus on disciplined cash managementKey Financials Q1 2018
NWC in % of Sales Free Cash Flow in €m Net Financial Position in €m
+130bp € - 278 m € - 22 m
x1 x2 x1 x2
4.9
6.2
300
22 -3,225 -3,247
Q1/17 Q1/18 Q1/17 Q1/18 FY/17 Q1/18
Henkel Roadshow Presentation May 2018 13
Delivery difficulties in North AmericaImpact on Q1 2018 results
Henkel Group Results
Q1 2018Actuals
Q1 2018 w/o deliverydifficulties
Organic Growth
+1.1% >2.5%
NWC in % of Sales
6.2% ~ 5%
Henkel Roadshow Presentation May 2018 14
▪ Q1 impacted by delivery difficulties resulting
from change in the transportation and logistics
processes and systems
▪ Causes have been identified, countermeasures
defined and are being implemented
▪ Service levels already improved significantly –
on track to return to normal service levels in the
course of the second quarter
▪ Excluding the effects from the delivery difficulties
organic growth in Q1 was in line with FY outlook
Strong topline impacted by currencies
Sales Volume Price M&A FX Sales
5,064
4,835
Organic & inorganic
+0.6% +0.5%
+3.0%
-8.6%
-4.5%
Sales Q1/17 Volume Price M&A FX Sales Q1/18
Sales in €m, changes in %
+4.1%
Henkel Roadshow Presentation May 2018 15
UAE
Japan
UK
Korea
Poland
Turkey
Mexico
Russia
China
USA
Softer US Dollar and EM currencies
Quarterly Development of USD vs. EUR2Top 10 non-€ countries1 and FX-development
1.00
1.05
1.10
1.15
1.20
1.25
1.30
1.23
Q1 Q3 Q4Q2
China
USA
Russia
Turkey
Mexico
Poland
UK
South Korea
Japan
UAEQuarterly avg. exchange rate
1.06
1.10
1.17 1.18
1 Full year 2017 group revenue exposure in EUR terms 2 Source: Bloomberg, as per 8 May 2018
--
-
+
--
----
2017 2018 y-t-d
Henkel Roadshow Presentation May 2018 16
Western Europe
€ 1,587 m (33%)
Eastern Europe
€ 701 m (14%)
North America
€ 1,095 m (23%)
Latin America Asia-PacificAfrica/Middle East
-6.5% +0.2% +7.6%
+7.3% +8.6% +4.2%
abs. in €m (share of total)
OSG in %
282 m € (6%) € 807 m (16%)€ 332 m (7%)
Emerging Markets: +6.9% to € 1,989 m, 41% of Group Sales
Mature Markets: -2.8% to € 2,814 m
Emerging Markets driving growth
Henkel Roadshow Presentation May 2018 17
EBIT Margin Adj. in %
+/- 0bp
x1 x2
18.1 18.1
Q1/17 Q1/18
Adhesive TechnologiesKey Financials Q1 2018
Sales in €m, OSG1 in % Regional Performance
+4.7%
x1 x2
2,295 2,270
Q1/17 Q1/18
1 Volume: 3.6% Price: 1.1%
Very strong growth driven by all business areas
Continued implementation of price increases and strict cost management offset direct material headwinds
Mature Markets: good,
driven by Western Europe
and North America
Emerging Markets: significant,
driven by Eastern Europe
and Asia
Henkel Roadshow Presentation May 2018 18
▪ Industrial AssemblyDouble-digit growth with new assembly solutions for
manufacturers of appliances and white goods
▪ Infrastructure ElectronicsDouble-digit growth with solutions for energy
generation and power management systems
▪ Flexible PackagingSignificant growth with innovative food safety
solutions enhancing sustainability for global customers
Adhesive TechnologiesHighlights Q1 2018
Beauty CareKey Financials Q1 2018
-4.3%
x1 x2
1,011965
Q1/17 Q1/18
Sales in €m, OSG1 in %
1 Volume: -3.6% Price: -0.7%
+/- 0bp
x1 x2
16.7 16.7
Q1/17 Q1/18
EBIT Margin Adj. in %Regional Performance
Mature Markets: negative,
due to North America,
Western Europe mixed
Emerging Markets: very strong,
mainly driven by Eastern Europe
Hair Professional with strong growth, Retail negative
Continued good profitability level despite challenges
Henkel Roadshow Presentation May 2018 20
▪ Eastern EuropeStrong development in Retail driven by growth
across all categories
▪ ColorationSignificant sales growth and market share expansion
Strong contribution from base portfolio and innovations
▪ Hair ProfessionalStrong growth momentum in Q1 across all regions
fueled by Schwarzkopf Professional and acquisitions
Beauty CareHighlights Q1 2018
Laundry & Home CareKey Financials Q1 2018
-0.7%
x1 x2
1,7261,569
Q1/17 Q1/18
Sales in €m, OSG1 in %
1 Volume: -1.1% Price: 0.4%
+120bp
x1 x2
17.3
18.5
Q1/17 Q1/18
EBIT Margin Adj. in %Regional Performance
Mature Markets: negative,
due to North America
Emerging Markets: significant,
driven by Middle East / Africa
and Eastern Europe
Laundry Care negative, Home Care with good organic growth
Excellent increase in profitability driven by continued realization of Sun synergies and Fund Growth initiatives
Henkel Roadshow Presentation May 2018 22
Highlights Q1 2018
▪ GermanyStrong development of brand portfolio, especially Persil
with double-digit growth thanks to Liquid and Caps
▪ Middle East / AfricaDouble-digit growth driven by successful Persil
relaunch and strong development of Pril
▪ Toilet CareContinued momentum with double-digit growth
thanks to successful innovations
Laundry & Home CareHighlights Q1 2018
Adjusted Gross Profit to Adjusted EBIT
AdjustedGross Profit
Marketing, selling &distribution
R&D Admin OOI/OOE AdjustedEBIT
-23.6% +0.3pp
47.5%-0.4pp
€ 842 m
-2.4% +0.0pp
-4.5% +0.2pp +0.4%
+0.4pp17.4%+0.5pp
in % of sales
Impact on Adjusted EBIT Margin in pp vs. PY
Henkel Roadshow Presentation May 2018 24
Strong FX-adjusted EPS growth
Adj. EPS Organic / anorganic FX Sales
€ 1.41€ 1.43
-6.4%+7.8%
+1.4%
Q1 2017 FX Q1 2018Operational
Strong FX-headwinds in the first quarter even above Q4 2017 impact
Excluding FX, continued strong EPS performance despite delivery difficulties in North America
Henkel Roadshow Presentation May 2018 25
Net Working Capital above prior year
▪ Adjusted for acquisition effects Net Working Capital
of Adhesive Technologies close to prior-year level
▪ Increase in Beauty Care due to delivery difficulties
in North America and acquisitions
▪ Laundry & Home Care negatively affected by
delivery difficulties in North America
+40bpsAdhesive Technologies
Beauty Care
Laundry & Home Care
Henkel Group
+240bps
+120bps
+130bps
11.9
11.5
5.8
3.4
-1.2
-2.4
6.2
4.9
in %
Henkel Roadshow Presentation May 2018 26
Higher CapEx affecting Free Cash Flow
Net Financial Position in €m
31.03.17 31.12.17 31.03.18
-1,961
-3,247-3,225
Investments Other Sales
391-51
Operating CF CapEx Other
Free Cash Flow in €m, ∆ PY in €m
FCF
-345-227
-24+/- 0
22-278
FCF impacted by NWC development and higher CapEx due to a technology acquisition
Net Financial Position remains stable, continuously strong balance sheet
Henkel Roadshow Presentation May 2018 27
Agenda
28
1. Strong Foundation, Consistent Performance
2. Key Developments and Financials Q1 2018
3. Henkel 2020+ Progress
4. Outlook FY 2018
Henkel Roadshow Presentation May 2018
Compelling ambition 2020
Organic Sales Growth2 – 4%
(Average 2017 – 2020)
Adjusted EPS Growth7 – 9%
(CAGR 2016 – 2020, per preferred share)
Adjusted EBIT MarginContinued improvement in
adjusted EBIT margin
Free Cash FlowContinued focus on
free cash flow expansion
30Henkel Roadshow Presentation May 2018
Focus on implementation of strategic priorities
▪ Generate profitable growth and attractive returns
▪ Become more customer-focused, innovative and agile
▪ Lead digital transformation in all business activities
▪ Promote sustainability across the entire value chain
▪ Advance our portfolio with value-adding acquisitions
▪ Clear and exciting growth strategy going forward
31Henkel Roadshow Presentation May 2018
Customer & Consumer EngagementRoadmaps for top 100 industrial customers
Digital Connect2Consumer program
Leading Brands & TechnologiesSales of top 3 brands increased to € 6.4 bn
Focus on successful development of local brands
Exciting Innovations & ServicesSuperior tailor-made solutions in growth segments
First influencer brands established in Hair Professional
New Sources of GrowthCompelling acquisitions complementing our portfolio
VC investments in digital services & technologies
Drive Growth
Drive Digital BusinessDouble-digit increase of digital sales in all
business units
Leverage Industry 4.0Smart factory concepts and further digitalization
of integrated Global Supply Chain
eTransform OrganizationChief Digital Officer driving digital transformation,
launch of Henkelx
Accelerate Digitalization
Energized and Empowered Teams“Henkel 2020+ Talks“ – powerful global dialogs
between leaders/employees
Fastest Time-to-MarketAdhesive Technologies’ 28 customer-facing steering
units enable closer customer collaboration,
acceleration of time-to-market of consumer goods
innovations
Smart SimplicityImplementation of flexible business models
to adapt to fast-changing markets
Increase Agility
ONE!ViEWNew approach to further optimize cost management
Net Revenue ManagementIncreased efficiency of our promotion activities
Most efficient structuresContinue optimization and consolidation of structures
ONE! Global Supply ChainOptimize cost, fully capturing cross-business synergies
Fund GrowthInitiatives
FY 2017 - Henkel Investor & Analyst Call February 22, 2018 36
Fund GrowthImplementation at full speed
>€ 100 m efficiency gains in 2017Fully on track in the realization of efficiencies,
already significant contribution in 2017
>€ 500 m annual efficiency gainsExpected sustainable annual efficiency gains
in full swing by 2020
Re-invest in growthFair share of annual efficiency gains are re-invested
to support innovation and future growth
February 22, 2018FY 2017 - Henkel Investor & Analyst Call 37
Visual
Excellence in value creationUsage of cash
Capital Expenditures€ 663 m spent in 2017
Acquisitions€ 2 bn invested in 2017
Dividends€ 736 m distributed in 2017
Adhesives TechnologiesAsia-Pacific – India
New multi-technology plant
Beauty CareEastern Europe – Russia
Plant upgrade & expansion
Laundry & Home CareAfrica / Middle East – Egypt
New production site
CapEx€ 663 m in 2017
Adhesives TechnologiesComplementary leading technologies,
adding more than € 300 m in sales
Beauty CareStrengthen position in Hair Professional,
adding more than € 300 m in sales
Venture Capital Enhance know-how by investments in start-ups
with digital or technological expertise
Acquisitions€ 2.0 bn in 2017
Dividends€ 736 m distributed in 2017
February 22, 2018FY 2017 - Henkel Investor & Analyst Call 40
10.5% higher dividendRecord dividend of € 1.79 per preferred share
paid in April 2018
30.7% payout-ratioIn line with target range of 25-35% of
adjusted net income after minorities
Payout doubled since 2012Compared to dividend of € 0.95 per
preferred share in 2012
Henkel 2020+
Fully committed to deliver on our financial ambition 2020
Henkel 2020 ambition Status 2017
OSG2 – 4%
(Average 2017 – 2020)3.1%
Adj. EPS Growth7 – 9%
(CAGR 2016 – 2020, pref. share)9.1%
Adj. EBIT MarginContinued improvement in
adjusted EBIT margin+40bp (17.3%)
Free Cash FlowContinued focus on
free cash flow expansion€ 1,701 m
41Henkel Roadshow Presentation May 2018
Agenda
42
1. Strong Foundation, Consistent Performance
2. Key Developments and Financials Q1 2018
3. Henkel 2020+ Progress
4. Outlook FY 2018
Henkel Roadshow Presentation May 2018
Guidance 2018
FY 2018 – previously FY 2018 – updated1
Organic Sales Growth2 - 4%
All Business Units within this range
Henkel: 2 - 4%
Adhesive Technologies: 2 - 4%Beauty Care: 0 - 2%
Laundry & Home Care: 2 - 4%
Adjusted EBIT MarginImprovement to a level
above 17.5%
Improvement to a level
above 17.5%
Adjusted EPS Growth5 - 8%
Reflecting currency uncertainty
5 - 8%Reflecting currency uncertainty
1 Updated on March 19, 2018 Henkel Roadshow Presentation May 2018 43
▪ Build on strong momentum in Adhesive Technologies and continue to outperform competition
▪ Get back to normal service level in North American consumer businesses in Q2
▪ Fully focus on implementation of innovation strategy in Beauty Care and Laundry & Home Care
▪ Execute fund growth initiatives to support investments and bottom-line
▪ Focus on Net Working Capital improvement
▪ Successfully complete integration of acquisitions
Committed to deliver on our Outlook 2018
Henkel Roadshow Presentation May 2018 44
▪ May 29, 2018 Investor & Analyst Day Laundry & Home Care, Düsseldorf
▪ August 16, 2018 Q2 2018 Earnings Release
▪ November 15, 2018 Q3 2018 Earnings Release
▪ February 21, 2019 FY 2018 Earnings Release
▪ April 8, 2019 Annual General Meeting
Upcoming Events
Henkel Roadshow Presentation May 2018 45
Adaptation of our structures to the market
Reported EBIT One-time gains One-time charges Restructuring charges Adjusted EBIT
-11
+30
+84
739
842
Reported EBIT Q1/18 Adjusted EBIT Q1/18One-time gains One-time charges Restructuring charges
in €m
Henkel Roadshow Presentation May 2018 47
FY 2018: Additional input for selected KPIs
Prices for Direct MaterialsModerate increase
vs. the level of the prior year
Restructuring Charges € 200 – 250 m
CapEx € 750 – 850 m
Henkel Roadshow Presentation May 2018 48
Impact from US tax reform
Reported tax rate in % Adjusted tax rate in %
x1 x2 x1 x2
Positive one-time impact of € 270 m on reported tax rate, mainly from revaluation of deferred tax liabilities
On a recurring basis from 2018 the tax reform should have a neutral to slightly positive effect
23.7
15.4
24.7 25.0
2016 2017 2016
49
2017
Henkel Roadshow Presentation May 2018
Commitment to sustainable profitable growthKey financials FY 2017
Sales in €m, OSG in % Gross Margin Adj. in % EBIT Margin Adj. in % EPS Pref. Adj. in €
+3.1% -130bp +40bp +9.1%
x1 x2 2016 2017 x1 x2x1 x2
18,714
20,029 48.4
47.116.9
17.35.36
5.85
2016 2017 2016 2017 2016 2017 2016 2017
50Henkel Roadshow Presentation May 2018
Focus on disciplined cash managementKey financials FY 2017
NWC in % of Sales Free Cash Flow in €m Net Financial Position in €m
+130bp -22.9% € - 924 m
x1 x2 x1 x2
3.5
4.8 2,205
1,701
-2,301
-3,225
2016 2017 2016 2017 2016 2017
51Henkel Roadshow Presentation May 2018
Sales Volume Price M&A FX Sales
18,714
20,029
+9.0%
Significant organic & inorganic sales growth
Organic & inorganic
+2.9% +0.2%
+5.9%
-2.0%
+7.0%
Sales 2016 Volume Price M&A FX Sales 2017
in €m, changes in %
52Henkel Roadshow Presentation May 2018
Emerging Markets: +5.3% to € 8,130 m, 40% of Group Sales
Mature Markets: +1.5% to € 11,776 m
Western Europe
€ 6,033 m (30%)
Eastern Europe
€ 2,897 m (14%)
North America
€ 5,162 m (26%)
Latin America Asia-PacificAfrica/Middle East
+3.0% +0.5% +6.0%
+4.4% +1.7% +5.9%
abs. in €m (Share of Total)
OSG in %
€ 1,142 m (6%) € 3,371 m (17%)€ 1,302 m (6%)
53
Organic growth supported by all regions
Henkel Roadshow Presentation May 2018
Adhesive TechnologiesKey Financials FY 2017
Sales in €m, OSG1 in % EBIT Margin Adj. in % NWC in % of Sales
+5.0% +30bp -30bp
x1 x2 x1 x2 x1 x2
Very strong growth driven by all regions and business areas
Acceleration of pricing throughout 2017
1Volume: 4.6% Price: 0.4%
8,9619,387
18.218.5
11.0 10.7
2016 2017 2016 2017 2016 2017
54Henkel Roadshow Presentation May 2018
Beauty CareKey Financials FY 2017
+0.5% +30bp +330bp
x1 x2 x1 x2 x1 x2
Retail below expectations, Professional continuing good growth momentum
Despite challenges in topline, further increase in adjusted EBIT margin
1Volume: 0.4% Price: 0.1%
3,838 3,86816.9
17.2
0.6
3.9
2016 2017 2016 2017 2016 2017
55
Sales in €m, OSG1 in % EBIT Margin Adj. in % NWC in % of Sales
Henkel Roadshow Presentation May 2018
Laundry & Home CareKey Financials FY 2017
+2.0% +30bp +300bp
x1 x2 x1 x2
Good organic growth driven by both Laundry Care and Home Care
Successful integration of Sun business, realization of synergies fully on track
1Volume: 1.9% Price: 0.1%
5,795
6,65117.3
17.6
-5.4
-2.4
2016 2017 2016 2017 2016 2017
56
Sales in €m, OSG1 in % EBIT Margin Adj. in % NWC in % of Sales
Henkel Roadshow Presentation May 2018
Adjusted Gross Profit to Adjusted EBIT
AdjustedGross Profit
Marketing, selling &distribut. expenses
R&D Admin OOI/OOE AdjustedEBIT
€ 9,431 m
-23.3% +1.1pp
47.1%-1.3pp
€ 3,461 m
-2.3% +0.2pp -4.3%
+0.3pp +0.1% +0.1pp
17.3%+0.4pp
in % of sales
impact on adj. EBIT margin in pp vs. PY
57Henkel Roadshow Presentation May 2018
Adjusted EPS growth – FX impacts
Currency headwinds increasingly impacting adjusted EPS in fiscal year 2017
58
Adj. EPS Organic / anorganic FX Sales
5.36
5.85
Full Year 2017 Q4 2017
-1.0%+10.1%
+9.1%
Adj. EPS 2016
FX Adj. EPS 2017
Organic / Inorganic
Adj. EPS Organic / anorganic FX Sales
1.27
1.35-3.9%+10.2%
+6.3%
Adj. EPS Q4 2016
FX Adj. EPS Q4 2017
Organic / Inorganic
Henkel Roadshow Presentation May 2018
Henkel: Profitable growth pathHenkel Group
59
Corporate
Adhesive Technologies
Beauty Care
Laundry & Home Care
1 %
47 %33 %
19 %
Corporate = sales and services not assignable to the individual business units.
-3.5%
7.0%5.9%
3.8% 3.5% 3.4% 3.0% 3.1% 3.1%
10.0%
12.3%13.0%
14.1%15.4% 15.8% 16.2%
16.9% 17.3%
2009 2010 2011 2012 2013 2014 2015 2016 2017
Organic Sales Growth Adjusted EBIT margin
Henkel Roadshow Presentation
Sales by Business Unit 2017 Profitable Growth Path
May 2018
Henkel: Profitable growth pathAdhesive Technologies
60
Packaging & Consumer Goods
Transport & Metal
Electronics
Consumer, Craftsmen & Building
32 %
23 %19 %
11 %
-10.2%
11.8% 8.3%
3.6%2.7%
3.7%2.4% 2.8%
5.0%
8.1%
12.8%13.9%
15.1%16.9% 17.2% 17.1%
18.2% 18.5%
2009 2010 2011 2012 2013 2014 2015 2016 2017
General Industry 15%
Organic Sales Growth Adjusted EBIT margin
Henkel Roadshow Presentation
Sales by Business Areas 2017 Profitable Growth Path
May 2018
Henkel: Profitable growth pathBeauty Care
61
Hair Care
Skin / Oral
70 %
4 %
3.5%4.8%
5.4%
3.1% 3.0%2.0% 2.1% 2.1%
0.5%
12.9% 13.3%14.2% 14.5% 15.0% 15.3%
15.9%16.9% 17.2%
2009 2010 2011 2012 2013 2014 2015 2016 2017
Body Care 26 %
Organic Sales Growth Adjusted EBIT margin
Henkel Roadshow Presentation
Sales by Business Areas 2017 Profitable Growth Path
May 2018
Henkel: Profitable growth pathLaundry & Home Care
62
Laundry Care
Home Care
75 %
25 %
2.9%
1.5%
2.9%
4.7%5.7%
4.6% 4.9% 4.7%
2.0%
12.8% 13.0% 13.2%
14.5%15.6%
16.2%17.1% 17.3% 17.6%
2009 2010 2011 2012 2013 2014 2015 2016 2017
Organic Sales Growth Adjusted EBIT margin
Henkel Roadshow Presentation
Sales by Business Areas 2017 Profitable Growth Path
May 2018