Henkel Ag & Co. Kgaa · XETR:HEN
Henkel Ag & Co. Kgaa — Q1 2026 Earnings Presentation
39 slides from Henkel Ag & Co. Kgaa's earnings presentation, May 7, 2026
Slide 1: Henkel Q1 2026
HENKEL Q1 2026 CARSTEN KNOBEL, MARCO SWOBODA – 07 MAY 2026
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking statements which are based on current estimates and assumptions made by the corporate management of Henkel AG & Co. KGaA. Statements with respect to the future are characterized by the use of words such as “expect”, “intend”, “plan”, “anticipate”
Slide 3: Agenda
AGENDA 01 Key Developments 02 Business Performance Q1 2026 & Outlook 03 Key Take-Aways & Closing 3 HENKEL Q1 2026
Slide 4: At a glance
AT A GLANCE HENKEL GROUP NOMINAL ORGANIC SALES SALES GROWTH Q1 2026 performance €5.0bn 1.7% ▪ Good organic sales growth supported by both business units ▪ Positive price and volume development in both business units – ADHESIVE TECHNOLOGIES with volumes in positive territory for three consecutive qua
Slide 5: Investing into our business while letting shareholders participate in our success
INVESTING INTO OUR BUSINESS WHILE LETTING SHAREHOLDERS PARTICIPATE IN OUR SUCCESS VALUE-ADDING ACQUISITIONS ARE AN CASH RETURNS INTEGRAL PART OF OUR STRATEGY TO SHAREHOLDERS Investing ~€5bn Returning ~€2bn to shareholders: in recently announced acquisitions1 ▪ Second share buyback of €1bn Adding ~€1
Slide 6: Enhancing growth with attractive M&A opportunities in Adhesive Technologies (I/II)
ENHANCING GROWTH WITH ATTRACTIVE M&A OPPORTUNITIES IN ADHESIVE TECHNOLOGIES (I/II) ATP ADHESIVE SYSTEMS (closed as of April 1st) – ~270 MEUR sales1 • Entry into fast-growing high-performance water-based specialty tapes market (~7% CAGR2) • Portfolio expansion beyond liquid adhesives offering additio
Slide 7: Enhancing growth with attractive M&A opportunities in Adhesive Technologies (II/II)
ENHANCING GROWTH WITH ATTRACTIVE M&A OPPORTUNITIES IN ADHESIVE TECHNOLOGIES (II/II) STAHL GROUP1 – ~725 MEUR sales2 • Expansion into specialty coatings market for flexible materials (3–4% CAGR3) • Highly complementary product portfolio serving various customer segments • Focus on environmentally res
Slide 8: Expanding our technology portfolio through recent acquisitions
EXPANDING OUR TECHNOLOGY PORTFOLIO THROUGH RECENT ACQUISITIONS TECHNOLOGY CORE NEW TECHNOLOGIES through acquisitions1 Expanding BROADEST Hotmelts Waterbased Polyurethanes ENGINEERED PORTFOLIO in the industry with Adhesives INFRASTRUCTURE ATTRACTIVE ADJACENCIES SYSTEMS (2023 / 2024) Surface Treatment
Slide 9: Leveraging our broad solution portfolio as partner of choice for our customers (I/II)
LEVERAGING OUR BROAD SOLUTION PORTFOLIO AS PARTNER OF CHOICE FOR OUR CUSTOMERS (I/II) ENABLER OF NASA’S ARTEMIS II MISSION Delivering INDUSTRY-LEADING PERFORMANCE and RELIABILITY across structural integrity, thermal protection, surface technologies, and safety-critical sealing Fueling space explorat
Slide 10: Leveraging our broad solution portfolio as partner of choice for our customers (II/II)
LEVERAGING OUR BROAD SOLUTION PORTFOLIO AS PARTNER OF CHOICE FOR OUR CUSTOMERS (II/II) GROWTH & TECHNOLOGY LEADERSHIP IN PAPER PACKAGING Expanding COATINGS EXPERTISE to capture HIGH-GROWTH packaging opportunities Enabling SHIFT TOWARDS RECYCLABLE PAPER-BASED PACKAGING with expanded BARRIER and HEAT
Slide 11: M&A focused on strengthening hair business in Consumer Brands (I/II)
M&A FOCUSED ON STRENGTHENING HAIR BUSINESS IN CONSUMER BRANDS (I/II) NOT YOUR MOTHER‘S (closed as of April 24th) – ~190 MEUR sales1 • Expanding hair consumer footprint in the largest global retail hair market (~4% CAGR2) • A leading and fast-growing hair care and styling consumer brand in the US – f
Slide 12: M&A focused on strengthening hair business in Consumer Brands (II/II)
M&A FOCUSED ON STRENGTHENING HAIR BUSINESS IN CONSUMER BRANDS (II/II) OLAPLEX1 – ~370 MEUR sales2 • Expanding global presence in premium hair care (~5% CAGR3) • Well-established, globally active premium channel hair care brand with a portfolio of science-led, high-performance products • Diversified
Slide 13: Transforming Consumer Brands portfolio through strategic refocus & targeted M&A
TRANSFORMING CONSUMER BRANDS PORTFOLIO THROUGH STRATEGIC REFOCUS & TARGETED M&A HCB PORTFOLIO 2021 HCB PORTFOLIO 2025 (pro-forma1 ; incl. recent M&A) ATTRACTIVE CATEGORIES & Oral/ Body sharpened BRAND FOCUS Body Skin Care Hair Care Care M&A1 3% Laundry 6% Laundry 7% Care Care CLEAR M&A STRATEGY with
Slide 14: Building on a strong foundation to become the authority in hair
BUILDING ON A STRONG FOUNDATION TO BECOME THE AUTHORITY IN HAIR WINNING COLORATION Well positioned with CONSUMER AND PROFESSIONAL UNDER ONE ROOF Driving organic growth with Sales Share1 STRONG BRANDS like Schwarzkopf Masterbrand, Syoss and Got2B LEADING STYLING Professional 45% 55% Consumer Deliveri
Slide 15: Continuing strong growth dynamics of top 10 brands
CONTINUING STRONG GROWTH DYNAMICS OF TOP 10 BRANDS STRONG PERFORMANCE of premium brands within FABRIC CLEANING & CARE TOP 10 BRANDS with ~5% ORGANIC GROWTH PERSIL with in Q1 MID-SINGLE-DIGIT GROWTH in Q1 Driven by BALANCED PRICE & VOLUME MARKET LEADER in Germany with 200 BPS MARKET SHARE GAINS in FY
Slide 16: Outlook 2026
OUTLOOK 2026 ORGANIC SALES GROWTH 1.0 to 3.0% ADJUSTED EBIT MARGIN 14.5 to 16.0% ADJUSTED EPS1 low to high single-digit % increase 16 HENKEL Q1 2026 1 per preferred share, at constant exchange rates
Slide 17: Agenda
AGENDA 01 Key Developments 02 Business Performance Q1 2026 & Outlook 03 Key Take-Aways & Closing 17 HENKEL Q1 2026
Slide 18: Organic sales development
ORGANIC SALES DEVELOPMENT Q1 2026 1.7% -2.1% -5.2% -5.5% OSG A&D FX NOMINAL PRICE VOLUME SALES 0.7% 1.0% €5.0bn 18 HENKEL Q1 2026
Slide 19: Organic sales development by region
ORGANIC SALES DEVELOPMENT BY REGION Q1 2026 Group organic sales growth Group sales share EUROPE NORTH AMERICA ASIA-PACIFIC IMEA LATIN AMERICA -3.4% 0.9% 10.3% 12.8% -3.1% 39% 25% 18% 11% 8% 19 HENKEL Q1 2026
Slide 20: Adhesive Technologies
ADHESIVE TECHNOLOGIES Q1 2026 NOMINAL SALES €2.6bn ORGANIC SALES GROWTH 1.7% PRICE VOLUME 0.4% 1.3% 20 HENKEL Q1 2026
Slide 21: Adhesive Technologies organic sales growth development
ADHESIVE Organic Sales Growth Development TECHNOLOGIES in % 2.0 Q1 2026 1.3 0.3 0.5 ▪ Good organic sales growth driven by 0.1 positive price and volume development ▪ Volume development also supported 0.6 0.5 0.8 0.4 1.0 by forward buying ▪ Electronics and Industrials continue to be Q1/25 Q2/25 Q3/25
Slide 22: Mobility & Electronics
MOBILITY & ELECTRONICS Q1 2026 ORGANIC SALES SALES GROWTH 6.7% €1.0bn Double-digit growth in Electronics and very strong growth in Industrials Automotive still impacted by muted demand in key markets 22 HENKEL Q1 2026
Slide 23: Packaging & Consumer Goods
PACKAGING & CONSUMER GOODS Q1 2026 ORGANIC SALES SALES GROWTH 0.5% €0.8bn Good growth in Consumer Goods Packaging negative reflecting persistent muted demand 23 HENKEL Q1 2026
Slide 24: Craftsmen, Construction & Professional
CRAFTSMEN, CONSTRUCTION & PROFESSIONAL Q1 2026 ORGANIC SALES SALES GROWTH -2.3% €0.9bn Manufacturing & Maintenance with positive development Consumer & Construction below prior year due to the challenging market environment 24 HENKEL Q1 2026
Slide 25: Consumer Brands
CONSUMER BRANDS Q1 2026 NOMINAL SALES €2.3bn ORGANIC SALES GROWTH 1.8% PRICE VOLUME 1.1% 0.7% 25 HENKEL Q1 2026
Slide 26: Consumer Brands organic sales growth development
CONSUMER Organic Sales Growth Development BRANDS in % 2.8 Q1 2026 2.0 0.7 1.5 0.9 ▪ Good organic sales growth with both price 1.4 1.1 and volume development in positive territory -0.6 -1.2 ▪ Hair continues to be the main growth driver with >5% OSG -5.5 ▪ Very strong growth contribution from Q1/25 Q2
Slide 27: Laundry & Home Care
LAUNDRY & HOME CARE Q1 2026 ORGANIC SALES SALES GROWTH 0.1% €1.4bn Positive growth in Home Care driven by double-digit growth in Hand Dishwashing Laundry Care slightly negative due to Fabric Cleaning; Fabric Care with significant growth 27 HENKEL Q1 2026
Slide 28: Hair
HAIR New premium scalp care line launched in Q1 Q1 2026 ORGANIC SALES SALES GROWTH 5.1% €0.8bn Very strong growth in Consumer with strongest contribution from Coloration Very strong growth in Professional also supported by strong growth in North America 28 HENKEL Q1 2026
Slide 29: Other Consumer Businesses
OTHER CONSUMER BUSINESSES Q1 2026 ORGANIC SALES SALES GROWTH 0.5% €0.1bn Positive growth in Body Care driven by North America 29 HENKEL Q1 2026
Slide 30: Outlook 2026
OUTLOOK 2026 ORGANIC ADJUSTED ADJUSTED SALES GROWTH EBIT MARGIN EPS1 GROUP 1.0 to 3.0% 14.5 to 16.0% Low to high single- digit % increase ADHESIVE TECHNOLOGIES 1.0 to 3.0% 16.5 to 18.0% CONSUMER BRANDS 0.5 to 2.5% 14.0 to 15.5% 30 HENKEL Q1 2026 1 per preferred share, at constant exchange rates
Slide 31: Agenda
AGENDA 01 Key Developments 02 Business Performance Q1 2026 & Outlook 03 Key Take-Aways & Closing 31 HENKEL Q1 2026
Slide 32: Key take-aways
KEY TAKE-AWAYS ▪ Good organic sales growth supported by both business units ▪ Positive price and volume development in both business units – with volumes in positive territory for three consecutive quarters ▪ Successfully executing on M&A: – 5 transactions1 recently signed with a sales of ~€1.6bn –
Slide 33: Questions & Answers
QUESTIONS & ANSWERS 33 HENKEL Q1 2026
Slide 34: Upcoming events
UPCOMING EVENTS 2026 MAY 7 | Q1 2026 RELEASE Quarterly Statement AUG 6 | HY 2026 RELEASE Half-Year Report NOV 10 | Q3 2026 RELEASE Quarterly Statement MAR 8 | FY 2026 RELEASE Annual Report 34 HENKEL Q1 2026
Slide 35: Thank you.
THANK YOU. 35 HENKEL Q1 2026
Slide 36: Organic sales growth and nominal sales Q1 2026
ORGANIC SALES GROWTH AND NOMINAL SALES Q1 2026 Sales Organic sales Q1 2025 Q1 2026 +/- growth HENKEL GROUP 5,242 4,952 -5.5% 1.7% ADHESIVE TECHNOLOGIES 2,715 2,627 -3.2% 1.7% MOBILITY & ELECTRONICS 966 977 1.1% 6.7% PACKAGING & CONSUMER GOODS 804 758 -5.7% 0.5% CRAFTSMEN, CONSTRUCTION & PROFESSIONAL
Slide 37: Outlook 2026 additional input for selected KPIs
OUTLOOK 2026 ADDITIONAL INPUT FOR SELECTED KPIS CURRENCY IMPACT ON SALES Low single-digit % negative1 M&A IMPACT ON SALES Low single-digit % positive Previously: neutral to slightly negative PRICES FOR DIRECT MATERIALS2 High single-digit % increase1 Previously: low single-digit % increase1 RESTRUCTU
Slide 38: Balanced and diversified portfolio
BALANCED AND DIVERSIFIED PORTFOLIO FY 2025 1% 38% 52% €20.5bn 47% 26% ADHESIVE CONSUMER SALES TECHNOLOGIES BRANDS 29% 34% 7% 17% 1% 10% Corporate €10.7bn €9.7bn 35% SALES SALES 6% 36% 60% Europe Asia/Pacific IMEA Latin America Mobility & Electronics Laundry & Home Care North America Corporate Packag
Slide 39: Find out more on henkel.com/ir
FIND OUT MORE ON HENKEL.COM/IR