Henkel: strong sales and earnings performance in the first half of the year

In the first half of 2026 Henkel recorded strong organic sales growth and very good earnings performance, despite a particularly challenging economic environment.

Sales and earnings performance

The company’s total sales amounted to 10.348 million euros in the first half of 2026, corresponding to nominal growth of -0,5% (Q2: 5.396 million euros, +4,6%). Currency effects reduced sales by 3,9% (Q2: -2,6%). Acquisitions and divestments had a slightly positive impact on sales of 0,2% (Q2: +2,5%). While the divestment of the private-label business in North America (April 2025) had a negative impact, the acquisitions completed in both divisions in the first half of 2026, particularly Atp Adhesive Systems and Not Your Mother’s, contributed positively to the results. On an organic basis, i.e. excluding the effects of currencies and acquisitions/divestments, Henkel recorded strong sales growth of 3,2% (Q2: +4,7%).

The Adhesive Technologies division

The sales of the Adhesive Technologies division increased by 2,2% in nominal terms, reaching 5.534 million euros in the first half of 2026 (Q2: 2.908 million euros, +7,6%). In organic terms, Adhesive Technologies recorded very strong sales growth of 4,5% (Q2: +7,4%). This growth was supported by positive developments in both prices and volumes.

Across the various business areas, organic sales growth in the Adhesive Technologies division in the first half of the year was driven in particular by the significant increase of 7,8% recorded by the Mobility & Electronics (Q2: +8,8%). This result was supported by double-digit organic growth in the Electronics business and a significant increase in sales in the Industrial business. By contrast, the Automotive business recorded an overall decline in the first half of the year, although it improved in the second quarter, with good organic growth.

The Packaging & Consumer Goods business recorded very strong organic growth of 4,7%, supported by the excellent performance of the Packaging business and the strong organic increase in the Consumer Goods business (Q2: +9,1%). This development was also supported by customers bringing purchases forward in response to geopolitical uncertainties. The Craftsmen, Construction & Professional business area recorded organic sales growth of1% (Q2: +4,4%). This growth was driven in particular by the strong organic increase in the General Manufacturing business & Maintenance, while the Consumer & Construction business recorded slightly negative organic sales performance.

Adjusted operating profit came to 982 million euros, exceeding the previous year’s level despite negative currency effects. The adjusted return on sales increased to 17,7%, compared with 17,2% recorded in the same period of the previous year. Economies of scale resulting from volume growth and the business mix had a favourable impact in this case.

The Consumer Brands division

The Consumer Brands division recorded sales of 4.733 million euros in the first half of 2026, corresponding to a nominal decline of -3,5% compared with the same period of the previous year (Q2: 2.448 million euros, +1,1%). In organic terms, sales increased by1,7% (Q2: +1,6%), thanks to positive developments in both prices and volumes compared with the first half of 2025.

In the first half of the year, the Laundry & Home Care business area recorded organic sales growth of 0,7% (Q2: +1,3%). The Laundry Care segment achieved positive organic growth, supported by a significant increase in sales in the Fabric Care category and positive growth in the Fabric Finisher category. By contrast, the Fabric Cleaning category recorded a slight decline. The Home Care business also posted good organic sales growth, driven in particular by double-digit growth in the Hand Dishwashing category. The Hair business recorded very strong organic growth of 4,2% (Q2: +3,3%), confirming its position as the main growth driver of the Consumer Brands division.

This positive performance was supported both by the Consumer business, which recorded strong organic sales growth, and by the Professional business, which achieved a very significant increase. Within the Consumer business, all categories contributed to growth, with Hair Colorants and Hair Styling making the largest contributions. The Other Consumer Businessesarea, however, recorded negative organic sales performance of -2,1% (Q2: -4,6%), mainly due to the performance of the Body Care business in the Europe region. By contrast, the North America region recorded good organic sales growth.

Theadjusted operating profit came to 724 million euros, slightly below the previous year’s level, mainly due to the divestment of the private-label business in North America in April 2025 and negative currency effects. By contrast, the adjusted return on sales remained unchanged at 15,3% compared with the same period of the previous year.

The commentary

“Once again, organic sales growth was driven by both divisions, which recorded positive developments in both prices and volumes. In Adhesive Technologies, the improvement in sales and earnings was also supported by the consistent and rapid implementation of pricing initiatives aimed at offsetting the pressure resulting from rising raw material costs,” said Henkel CEO Carsten Knobel. “In Consumer Brands, the Hair business continued its strong growth trajectory, while the Laundry Care business returned to growth.”

“We are consistently implementing our strategy, with a clear focus on targeted growth, and the results demonstrate the success of this approach. In the first half of the year, we achieved an overall very solid business performance, while continuing to invest significantly in our future across brands, technologies and innovation. In addition, we significantly accelerated our M&A. activities. We reached agreements for five acquisitions worth a total of approximately 5 billion euros, which will substantially strengthen both of our divisions. Four of these acquisitions have already been completed. In the coming years, the acquired businesses are expected to generate above-average growth in the mid-to-high single-digit percentage range and contribute approximately 2 billion euros in additional annual sales. This represents another important step forward in the sustainable implementation of our growth agenda,” continued Carsten Knobel.

“Based on the strong performance recorded in the first half of the year, we have raised our sales growth expectations for both the Group and the Adhesive Technologies division. At Group level, we now expect organic sales growth of between1,5% and 3,5%, compared with the previous forecast of between1% and 3%. For Adhesive Technologies, we have increased our organic sales growth expectations from a range of between1% and 3% to a range of between 2% and 4%. We therefore continue to believe that Henkel is well positioned to achieve sustainable and profitable growth,” concluded the Henkel CEO.

This article was translated from the original Italian version with the assistance of artificial intelligence. In case of discrepancies, please refer to the original Italian version.