DÜSSELDORF (dpa-AFX) - Consumer goods group Henkel has again raised its earnings targets after a good run in the second quarter. The return on sales before interest and taxes (EBIT) adjusted for special items is now expected to be in the range of 13.5 to 14.5 percent in 2024, the Group announced on Wednesday. Adjusted earnings per share are expected to increase by 20 to 30 percent at constant exchange rates. To date, the Düsseldorf-based company's operating margin target has been 13 to 14 percent, while adjusted earnings per share are expected to increase by 15 to 25 percent. Henkel stated that the increase was mainly due to the rising profit expectations for the consumer division.

On the other hand, organic sales growth - i.e. excluding acquisitions and disposals of business units and exchange rate fluctuations - is expected to remain between 2.5 and 4.5 percent. The share price initially rose, but profits then crumbled again.

Most recently, the DAX-listed preference share was up 0.5 percent at 81.86 euros. This means that the share price has risen by a good 16 percent this year. The operating result and earnings per share of the consumer goods group clearly exceeded market expectations in the second quarter, wrote analyst James Edwardes Jones from the Canadian bank RBC. However, the company's organic sales growth was slightly disappointing.

In the first half of the year, the Persil and Pattex manufacturer's turnover fell by one percent to 10.8 billion euros due to the discontinuation of business in Russia and negative exchange rate effects. On its own, however, it would have increased by 2.9 percent, Henkel calculated. Organic growth was driven by higher prices in both divisions, while volumes developed slightly positively.

Adjusted operating profit increased by 28.4 percent to 1.61 billion euros. The margin thus increased by 3.4 percentage points to 14.9 percent. On an adjusted basis, Henkel generated earnings per preferred share of 2.78 euros at constant exchange rates - a third more than in the previous year./men/nas/he