Henkel (HEN) Investor presentation summary

Investment profile and FY 2025 performance

• Adhesive Technologies holds the global #1 position in adhesives; Consumer Brands ranks #2 in its active markets, with products serving customers across >800 industries.

• FY 2025 sales were €20.5bn: Adhesive Technologies €10.7bn and Consumer Brands €9.7bn; group organic sales growth was 0.9%.

• FY 2025 adjusted EBIT was €3,026m, adjusted EBIT margin 14.8%, adjusted EPS €5.33 and adjusted EPS growth 4.7% at constant exchange rates.

• FY 2020–2025 organic sales CAGR was 4.8% for the group, 6.6% for Adhesive Technologies and 3.2% for Consumer Brands.

Growth strategy and capital allocation

• Priorities include innovation leadership, investment in high-growth markets, more solutions per customer unit, digital and AI capabilities, sustainability and selective M&A.

• Organic investment averages €650m–€700m in annual CAPEX over the past 10 years; acquisitions target adjacent technologies in Adhesive Technologies and core categories and white spaces in Consumer Brands.

• Five acquisitions announced in 2026 are expected to add €2bn of sales by 2030; expected sales contribution is ~€0.7bn in FY 2026 and ~€2.0bn in FY 2030.

• The 2026 acquisitions are expected to contribute high-single-digit OSG from FY 2027 onwards; adjusted EBITDA contribution is ≥10% of sales by FY 2030, with expected leverage within the single-A credit-rating corridor.

• The 2025 preferred-share dividend was €2.071, up 1.5% YoY; a second €1bn buyback was completed by end-March 2026, and >€10bn was distributed over the past 10 years.

Mid-term financial ambitions

• Group targets 3%–4% organic sales growth and ~16% adjusted EBIT margin; adjusted EPS growth target is mid- to high-single-digit at constant exchange rates, including M&A.

• Adhesive Technologies targets 3%–5% organic sales growth and a high-teens adjusted EBIT margin.

• Consumer Brands targets 3%–4% organic sales growth and a mid-teens adjusted EBIT margin.

• Cash priorities include continued free cash flow expansion, investment in the businesses and shareholder returns through dividends and buybacks.