1147 GMT - Henkel's fourth-quarter result revealed a notable sequential deceleration in group volumes which fell 9% in the last quarter of 2022 from a 3.4% decline the previous quarter, UBS analysts Guillaume Delmas and Kate Rusanova say in a research note. Volumes at its laundry and home-care unit fell nearly 15% in 4Q compared with a 7.5% decline in 3Q, while beauty care volumes fell 15% in 4Q down from 11% in 3Q, UBS says. The German chemical company nevertheless managed 6.0% organic sales growth in Q4, exceeding consensus expectations, driven by its adhesives unit which grew nearly 12% organically compared with consensus of 9.1% growth, UBS says. Adhesive volumes mix in 4Q fell 3.2% compared with 1% growth in the previous quarter, UBS says. Shares trade 2.3% lower to EUR67.62.(pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
March 07, 2023 06:47 ET (11:47 GMT)
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