When looking at the stock market in the consumer goods manufacturer Henkel, for example by Persil and Pritt is on Monday. Since the financial crisis, the stock had made their owners until the beginning of 2017 a lot of joy. Since then, however, it went significantly down, and do it again on Monday with a decline of almost 9 percent. Now it is around 89 euros, the lowest level in more than three years.

Martin Hock

editor in the economy.

F. A. Z.

Typically, the reasons for this are failures, or a reduction in profit forecasts. Not this time, although the Latter does play a role. Henkel announced its intention to invest in brands, technologies, innovations and digitization, in order to exploit growth opportunities.

Henkel VZ — — (–) Xetra tradegate exchange London SE Int. Level 1Lang & Schwarz, Stuttgart, Frankfurt, Switzerland OTCSchweizSchweizWien 1T 1W 3M 1J 3J 5J For detail view

From 2019, is to be expended annually about 300 million Euro. Two-thirds to be invested in brands, technologies and innovations, with a third in the digital Transformation.

Henkel is therefore expected from 2019 and beyond revenue growth without any acquisitions, of 2 percent to 4 percent. The one-off expenses and income and restructuring charges adjusted operating margin should be between 16 and 17 percent. We expect adjusted earnings per preferred share, at constant exchange rates in the mid single – digit percentage range year-on-year.