Home Consumer Goods Henkel posts solid third quarter, looks to grow further in U.S.

Henkel posts solid third quarter, looks to grow further in U.S.

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Posting 7.6 percent earnings growth in the third quarter that was powered in part by its $3.6 billion acquisition of Wilton-based laundry and home care company The Sun Products Corp. earlier this year, Germany’s Henkel AG & Co. said it is aiming to overtake U.S. market leader Procter & Gamble Co.

Hans van Bylen
Hans Van Bylen

“We’re still very far behind the big market leader, but it’s also the case that there are not many more small competitors,” Hans Van Bylen, CEO of #2 Henkel, said on a Nov. 8 earnings call. With the Sun acquisition, Henkel now has about a 20 percent share of the U.S laundry market and can “do a lot with our current position” to grow internally, Van Bylen said.

Earnings before interest and taxes rose 7.6 percent to 837 million euros ($922 million), while sales increased 3.4 percent to 4.7 billion euros ($5.2 billion).

Henkel reiterated full-year targets for organic sales to grow by 2 to 4 percent.

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