11.08.16
After spending billions to build a bigger presence in the US, Henkel's CEO is watching out for his new investment. Earlier this year, the German consumer goods group acquired Sun Products, the US-based maker of laundry detergent brand Snuggle. Now, Hans Van Bylen said he will be watching the presidential elections closely and is hoping for a stable political outcome.
"We will all stay awake tonight and watch the results to see who will become the next president," Van Bylen told journalists during an earnings call.
"A stable political environment in the US is important for us," Van Bylen said, adding that around a fourth of all of Henkel's sales originated in the US and that the country was an overall important growth market.
Henkel bought Sun Products for about $3.54 billion in June, setting it up to become the region's second-biggest player with a roughly 20% market share in that segment behind competitor Procter & Gamble.
While Van Bylen and company will be watching the news tonight, today Henkel made news of its own, as sales rose 3.4% to 4.7 billion euros. The sales performance was driven by the solid organic development as well as acquisitions. Organic sales growth; i.e., adjusted for foreign exchange and acquisitions/divestments, was at 2.8%. Adjusted for negative foreign exchange impact of 3.3%, sales increased 6.7%.
Organic sales growth was driven by the solid performance of all business units. Laundry & home care recorded organic sales growth of 4.0%. Beauty care posted an improvement in organic sales of 2.6%.
"We will all stay awake tonight and watch the results to see who will become the next president," Van Bylen told journalists during an earnings call.
"A stable political environment in the US is important for us," Van Bylen said, adding that around a fourth of all of Henkel's sales originated in the US and that the country was an overall important growth market.
Henkel bought Sun Products for about $3.54 billion in June, setting it up to become the region's second-biggest player with a roughly 20% market share in that segment behind competitor Procter & Gamble.
While Van Bylen and company will be watching the news tonight, today Henkel made news of its own, as sales rose 3.4% to 4.7 billion euros. The sales performance was driven by the solid organic development as well as acquisitions. Organic sales growth; i.e., adjusted for foreign exchange and acquisitions/divestments, was at 2.8%. Adjusted for negative foreign exchange impact of 3.3%, sales increased 6.7%.
Organic sales growth was driven by the solid performance of all business units. Laundry & home care recorded organic sales growth of 4.0%. Beauty care posted an improvement in organic sales of 2.6%.