Henkel (HEN) AGM 2026 summary

Opening remarks and agenda

• AGM opened with a welcome and recognition of the company's 150th anniversary, highlighting its growth from a small business to a global leader in adhesives and consumer goods.

• The convocation and agenda were published in accordance with legal requirements, with all necessary notifications and documents made available to shareholders.

• The agenda includes 10 items, covering financial statements, proposed resolutions, and special items such as by-elections and amendments to the articles of association.

Board and executive committee updates

• No changes in the Supervisory Board since the last AGM; however, Mr. Jean-François van Boxmeer resigned from the Shareholders' Committee, with Dr. Stefan Hartung proposed as his successor.

• Dr. Hartung brings expertise in mobility, industrial engineering, and international management.

• No changes in the Management Board since the previous AGM.

Financial performance review

• Group sales for 2025 reached approximately EUR 20.5 billion, with organic sales growth of 0.9%.

• Adjusted operating profit was around EUR 3 billion, slightly below the previous year due to negative currency effects, but adjusted return on sales improved to 14.8%.

• Free cash flow was EUR 1.9 billion, and the company ended the year debt-free with a positive net financial position.

• Share buyback program completed, repurchasing over 14 million shares for nearly EUR 1 billion.

• Outlook for 2026 targets organic sales growth of 1%-3%, EBIT margin of 14.5%-16%, and EPS growth in the low- to high-single-digit percentage range.