TLDR

  • Henkel posted 2025 revenue of €20.5 billion, trailing analyst projections of €20.6 billion
  • Organic sales for the full year increased 0.9% year-over-year, compared to forecasts of 1.1%
  • Fourth-quarter organic sales climbed 2.3%, below the consensus estimate of approximately 3%
  • The company’s 2026 guidance calls for 1%–3% organic sales growth, with the midpoint trailing analyst projections of 2.1%
  • The CEO referenced Middle East conflict as an additional uncertainty factor affecting forward guidance

Henkel delivered 2025 revenue totaling €20.5 billion, marginally below the €20.6 billion figure analysts had anticipated. The company’s organic sales expansion reached 0.9% for the full year, likewise trailing the consensus forecast of 1.1%.

The fourth-quarter performance added to investor concerns. Organic growth of 2.3% during the final three months came up short of market expectations, which centered around 3%.

Henkel’s Adhesive Technologies division bore primary responsibility for the Q4 weakness, delivering results that fell below expectations. The Consumer Brands segment — which includes well-known brands such as Persil and Schwarzkopf — outperformed projections, partially offsetting the adhesives shortfall.


HEN.DE Stock Card
Henkel AG & Co. KGaA, HEN.DE

The company’s adjusted return on sales for 2025 reached 14.8%, representing an improvement from 14.3% recorded in 2024. Adjusted earnings per preferred share increased 4.7% on a constant currency basis, arriving at €5.33.

Henkel approved a dividend increase of 1.5%, bringing the payout to €2.07 per preferred share.

2026 Guidance Trails Analyst Projections

Looking ahead to 2026, Henkel has set organic sales growth guidance at 1% to 3%. The middle of this range sits below the 2.1% growth rate analysts had been modeling, based on data from Vara Research.

The Consumer Brands division is expected to achieve organic growth of 0.5% to 2.5%, while analyst consensus stood at approximately 2.1%. Adhesive Technologies is projected to grow 1% to 3%, compared to analyst forecasts clustering around 2.8%.

The company anticipates its adjusted operating profit margin will fall within a range of 14.5% to 16.0%. Analyst expectations had centered on 15.2%. Earnings per share are expected to increase in the low- to high-single-digit percentage range.

RBC Capital Markets characterized the guidance figures as “sensible,” while highlighting the disappointing Q4 results as a concerning factor.

Geopolitical Tensions Add to Uncertainty

CEO Carsten Knobel described a challenging environment for the coming year. He observed that 2025 conditions already reflected pressure from geopolitical instability and weakened consumer confidence.

“With the war in the Middle East that began at the end of February, the uncertainties have increased significantly once again,” Knobel said in a statement on Wednesday.

The company confirmed these challenges would extend into 2026, though management refrained from adjusting its current outlook.

Henkel’s shares declined 4.19% on the day results were announced, as investors digested both the Q4 miss and guidance that aligned with or fell below analyst expectations.

The 1.5% dividend increase provided a modest positive development, offering some appeal to shareholders focused on income generation.