Equity Story
Updated August 2026
HENKEL
EQUITY STORY
We are committed to deliver profitable growth by capitalizing on our strengths – with clear priorities and consistent progress towards our financial and strategic ambitions.
Marco Swoboda
Executive Vice President Finance, Purchasing, Global Business Solutions, Digital/IT
AT A GLANCE
REASONS TO INVEST
compelling portfolio with
iconic brands
Attractive portfolio of leading brands that are part of consumers' everyday life and serve customers across >800 industries globally
Superior
Technologies
Pioneering impactful innovations fueled by long-standing and unique R&D expertise and by strong capabilities in sustainability and digital
Strong BusinessES with leading positions in attractive markets
Adhesive Technologies global #1 player in adhesives market
Consumer Brands #2 player in our active markets around the world
Strong
Financial Foundation
Attractive cash generation and shareholder returns
Compelling
Financial Ambition
Poised for further profitable growth building on clear strategic priorities
Discover more details by expanding the sections below:
Strong businesses with leading positions
Compelling Portfolio with Iconic Brands
Superior Technologies
ADHESIVE
TECHNOLOGIES
Driving innovation through
customer collaboration
Spearheading the future of Adhesive
Technologies and driving customer-centric
innovation at our industry-leading
innovation centers, enabled by unique
global end-to-end digital R&D platform
> 3,000
R&D experts
including application engineering experts
~€360m
R&D spend
in 2025
~25%
Newly launched products
sales share of products launched in last 5 years
14
Technology platforms
CONSUMER
BRANDS
Leveraging our technology
expertise across our global
categories
Superior technologies and
impactful innovations addressing relevant
consumer needs and fueling above-average
growth of top 10 brands
~1,000
Researchers
~€270m
R&D spend
in 2025
~50%
Innovation rate
sales share of innovations launched within the last 3 years
> 300
Open inno. projects
Strong Financial Foundation
INVESTING INTO OUR BUSINESSES ...
INVESTING INTO OUR BUSINESSES ...
Strengthening businesses organically
- Overall 'asset-light business model' for both businesses
- Investing in growth, sustainability, digitalization and further rationalization/optimization
- Average annual CAPEX spend of €650m-€700m over past 10 years
Acquisitions integral part of strategy
- Adhesive Technologies: focus on attractive adjacent businesses and innovative technologies
- Consumer Brands: focus on strengthening core categories and closing white spots
... AND OFFERING
ATTRACTIVE SHAREHOLDER RETURNS
>10%
Dividend increase over the past two years
€2bn
Share buyback 2022-2026
1 Targeted payout ratio based on net income after non-controlling interests, and adjusted for exceptional items
Indicates what percentage of annual net income (adjusted for exceptional items) is paid out in dividends to shareholders, including non-controlling interests.
Financial Glossary SchließenProportion of equity attributable to third parties (non-controlling shareholders, aka minority shareholders) in subsidiaries included within the scope of consolidation. Valued on a proportional net asset basis. A pro-rata portion of the net income of the Group is attributable to shareholders owning non-controlling interests.
Financial Glossary SchließenDistributed more than €10bn to shareholders over the past 10 years
Compelling Financial Ambition
STRINGENTLY WORKING TOWARDS OUR
MID-TERM FINANCIAL AMBITION
ORGANIC SALES GROWTH
HENKEL
GROUP
3 to 4%
ADHESIVE
TECHNOLOGIES
3 to 5%
CONSUMER
BRANDS
3 to 4%
ADJUSTED
EBIT MARGIN
HENKEL
GROUP
~16%
ADHESIVE
TECHNOLOGIES
high-teens %
CONSUMER
BRANDS
mid-teens %
mid- to high-single-digit %
at constant exchange rates, including M&A
FREE CASH FLOW
continued focus on
Free Cash Flow expansion
Drivers for profitable growth
ADHESIVE
TECHNOLOGIES
- Driving growth opportunities along global megatrends
- Investing in high-growth markets
- Building on technology leadership and strong global manufacturing footprint
- Leveraging unique value chain position to drive customer-centric solutions
- Increasing number of solutions per unit across markets
- Leading the sustainability transformation
- Enhancing growth with attractive M&A opportunities
Consumer
Brands
- Driving better and bigger – building on a successfully transformed business
- Translating global trends into consumer-centric innovations
- Building advantage through leadership in our core categories
- Driving outperformance with top 10 brands across categories
- Valorizing the portfolio with impactful innovations
- Driving technology leadership backed by strong global R&D network
- Powering growth, speed & impact through digital & AI capabilities
- Enhancing growth with attractive M&A opportunities
Delivering STRONG FINANCIAL PERFORMANCE …
2025
Strong topline development across businesses
1 at constant exchange rates
2 FY2025 vs. FY2020
... Backed by our global
Footprint …
... With a global Innovation Network in both business units
- Strong track record and profound competencies in sustainability management
- Sustainability integral part of company strategy and purpose
- Comprehensive 2030+ Sustainability Ambition Framework addressing relevant challenges and opportunities
- Distinct implementation across business units to drive competitive advantage – leveraging role as “enabler” in Adhesive Technologies and shaping relevant trends in Consumer Brands
- Deep commitment and excellent performance in sustainability confirmed in numerous independent sustainability ratings
- Clear contribution to value creation and competitiveness
