Henkel (HEN) Q2 2026 (Media) earnings summary

Executive summary

• Achieved strong organic sales growth of 3.2% in H1 2026, reaching €10.3 billion, with positive price and volume dynamics across business units.

• Upgraded top-line guidance for 2026, reflecting confidence in continued growth.

• Significant investments in brands, innovation, and M&A, with five acquisitions totaling €5 billion, four already closed.

• Both Adhesive Technologies and Consumer Brands contributed to growth, with Hair and Laundry Care showing strong performance.

Financial highlights

• Adjusted EBIT increased to €1,620 million (+0.3% year-over-year), with a margin of 15.7% (+10 bps).

• Adjusted EPS rose to €2.86 (+1.8% year-over-year, +7.1% at constant FX).

• Free cash flow increased to €612 million (H1 2025: €485 million).

• Net financial position at -€1,855 million as of June 30, 2026, reflecting acquisition and share buyback outflows.

Outlook and guidance

• Upgraded 2026 organic sales growth guidance to 1.5–3.5% for the Group (was 1.0–3.0%).

• Adhesive Technologies organic sales growth now expected at 2.0–4.0% (was 1.0–3.0%).

• Consumer Brands organic sales growth expected at 0.5–2.5%.

• Adjusted EBIT margin forecast at 14.5–16.0%; adjusted EPS to increase low to high single digits at constant FX.