Henkel to Merge Businesses, Launch EUR1 Billion Share Buyback

   By Cecilia Butini

German home and personal-care products company Henkel AG & Co. KGaA said Friday that it intends to merge its laundry-and-home-care and beauty-care divisions into one unit to be called Henkel Consumer Brands, and that it will launch a share-buyback program with a total value of up to one billion euros ($1.11 billion).

The company also reported preliminary results for 2021, and set targets for 2022 and for the mid-to-long term.

In the mid-to-long term, Henkel said it is pursuing organic sales growth of 3% to 4% and an adjusted margin on earning before interest, taxes, depreciation and amortization of around 16%.

The company said it is also targeting growth in adjusted earnings per share in the mid-to-high single-digit percentage range. The targets are based on the planned division merger, which the company said is expected to generate "significant synergies."

The planned share-buyback program is set to run from February 2022 to March 31, 2023, the company said.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

January 28, 2022 03:16 ET (08:16 GMT)

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