+++ Business figures +++: Henkel increases sales target after strong quarter

US pharmaceutical company Merck & Co. has exceeded expectations and raised its annual forecast thanks to strong demand for its blockbuster cancer drug Keytruda. Sales rose to $18.1 billion in the third quarter, the company announced on Thursday. Analysts on average had only expected $17.3 billion. Adjusted earnings per share were $2.49, also above estimates of $2.08. For the full year, Merck now expects sales of between $66.8 and $67.3 billion and adjusted earnings per share of $2.77 to $2.82.

A weak cold medicine business has forced British consumer goods group Haleon to lower its sales forecast. The shares of the manufacturer of Sensodyne toothpaste and Voltaren pain gel fell by almost twelve percent on Thursday. For 2026, the company only expects organic sales growth of around 2.5 percent. Haleon had previously forecast an increase of three to five percent. Analysts had expected an average of 3.2 percent. The group maintained its outlook for adjusted operating profit, which is expected to grow in the high single-digit percentage range after adjusting for currency effects. At the same time, Haleon announced a further share buyback program of 500 million pounds.

In the third quarter, the group missed market expectations with an organic increase of 2.6 percent to 2.87 billion pounds. The main reason for the weaker development was a mild cold season in the most important market, North America, with correspondingly lower orders.

The sharp increase in oil prices due to the US war against Iran is causing the coffers of the French oil company Totalenergies to continue ringing. Net profit in the third quarter alone jumped by a good half to almost 8.4 billion US dollars (7.5 billion euros) compared to the second quarter of the year, as the competitor of Shell and ExxonMobil announced on Thursday. Compared to the previous year, the surplus has more than doubled.

The USA and Israel attacked Iran at the end of February 2026. Since then, oil prices have risen significantly, also because tanker traffic through the Strait of Hormuz has been disrupted. This strait is an oil transport bottleneck. Meanwhile, Totalenergies wants to buy back its own shares for $2.5 billion thanks to the bubbling profits in the final quarter and the first quarter of next year.

Thanks to good business in Europe, the Danish brewery group Carlsberg has made up for its weakness in China and is sticking to its annual forecast. Sales rose by five percent in the third quarter to 25.3 billion Danish crowns (3.39 billion euros), as the group announced on Thursday. The Danes thus met analysts' expectations. “The group achieved robust sales growth in the third quarter,” explained CEO Jacob Aarup-Andersen. “This more than offset the difficult business environment in China.” Carlsberg continues to target organic operating profit growth of four to six percent for the year as a whole.

The major French bank Societe Generale earned significantly more thanks to a record quarter in stock trading and higher income in private banking. The surplus rose by 24 percent to 1.89 billion euros in the last quarter of the year, as France's second largest listed bank announced on Thursday. The institute thus exceeded analyst expectations of an average of 1.65 billion euros. Income climbed eight percent to 7.17 billion euros.

After three weak quarters in a row, investment banking revenues rose 13 percent. Stock trading revenue reached a record high and increased by 46 percent. This offset a 21 percent drop in bond trading.

The British oil and gas company Shell benefited from the turbulence on the energy markets as a result of the Iran war in the third quarter and made a billion-dollar profit. Adjusted profit was $10.81 billion, above analysts' expectations, Shell said on Thursday. It is the highest profit since 2022. The group also announced that it would increase its share buyback program from three to five billion dollars. In the same period last year, profits were $5.43 billion.

Thanks to a surprisingly strong third quarter, consumer goods and adhesives manufacturer Henkel is more optimistic about the year as a whole. The board of directors raised its sales forecast and is now targeting an organic sales increase of 3.0 to 4.0 percent in 2026, as the Düsseldorf DAX group announced on Thursday. He had previously promised 1.5 to 3.5 percent. The adjusted return on sales should be around 15 percent, which clarifies the previous range of 14.5 to 16.0 percent.

Both the adhesives business (Adhesive Technologies) and the consumer goods division (Consumer Brands) recorded high growth rates. According to initial calculations, sales increased organically by 6.5 percent to 5.7 billion euros. The growth was supported by all regions. Price increases of 5.4 percent and a slight increase in volumes of 1.1 percent also contributed. The full quarterly report is scheduled to be published on November 10th.

After significant growth in the first nine months, the engine manufacturer MTU Aero Engines is more optimistic about its sales for the year as a whole. Due to high demand, especially for maintenance in civil aviation, and a favorable dollar exchange rate, the DAX group raised its sales forecast for 2026 on Thursday. “We assume that we will achieve sales of 9.5 to 9.7 billion euros in 2026,” explained CFO Katja Garcia Vila. Previously, MTU had expected adjusted sales of between 9.2 and 9.7 billion euros.

Strong demand from AI data centers and satellite operators gave chipmaker STMicroelectronics a jump in profits in the third quarter. Adjusted operating income rose 98 percent year-over-year to $429 million, the company announced on Thursday. The group thus exceeded the expectations of analysts, who had expected $400.5 million, according to LSEG data. Sales rose by almost 18 percent to $3.76 billion. STMicro forecast sales of $4.15 billion for the current fourth quarter. Analysts expect $4.10 billion.

Fewer cars sold, but more implemented: The French car manufacturer Renault achieved a surprising increase in sales in the third quarter thanks to its popular electric models. Currency-adjusted revenue rose by 1.4 percent to 11.6 billion euros, the company announced on Thursday. Analysts had expected a slight decline. Nevertheless, sales growth was lower than in the first half of the year. This is unlikely to be enough to reassure investors worried about intense competition from a wave of Chinese suppliers in Renault's core markets.

This is reflected in sales: with 497,799 vehicles sold, Renault missed the previous year's figure by six percent. While the company reported strong demand for electric vehicles - such as the electric Renault 5 - the board also pointed out the increasing competitive pressure. CFO Duncan Minto spoke of “noticeable pressure from Chinese brands in Europe”, which was also affecting the budget brand Dacia. Investors' concerns about increasing competition are reflected in the share price, which has already lost more than a quarter this year. For the full year, Minto confirmed its target for the operating margin, which should be around 5.5 percent of sales.

The major Dutch bank ING has announced a new share buyback with a volume of 1.65 billion euros. In addition, an additional cash distribution of 250 million euros should flow to shareholders in January 2027, the institute announced on Thursday. In the third quarter, however, the bank missed analysts' profit expectations. Although net profit rose by 3.5 percent to 1.85 billion euros, experts had expected an average of 1.97 billion. As part of a reorganization of its corporate customer business, ING also announced the reduction of around 400 jobs worldwide.

The world's largest brewing company Anheuser-Busch InBev met profit expectations in the third quarter, but is increasingly feeling the pressure of rising costs. The maker of brands such as Budweiser and Stella Artois increased organic sales by 4.9 percent, exceeding forecasts, the company announced on Thursday. Including currency effects, revenue climbed to $16.5 billion. Adjusted operating profit (Ebitda) increased by 3.9 percent to almost six billion dollars. However, due to higher expenses, the operating margin shrank by 34 basis points to 36.1 percent.

The specialty chemicals group Wacker Chemie earned significantly more in the third quarter thanks to its savings program and almost doubled its operating profit. Earnings before interest, taxes, depreciation and amortization (Ebitda) rose to 217 million euros after 112 million euros in the same period last year, as the company announced on Thursday in Munich. The bottom line is that the company returned to the black and posted a profit of 87 million euros after a loss of 82 million euros a year ago.

Quarterly sales rose by nine percent to 1.47 billion euros. All business areas have grown, explained Wacker. This is primarily due to higher prices and partly to increased sales volumes.

Volkswagen slipped deep into the red in the third quarter. The car company announced that consolidated earnings after taxes were minus 5.82 billion euros in the months from July to September.

The Franconian sporting goods group Adidas wants to get back on track for growth in the Christmas business in Europe. The number two on the world market announced on Thursday in Herzogenaurach that high single-digit growth is expected on the continent in the fourth quarter. In the third quarter, Europe was the only region in which sales fell by four percent. In all other markets, Adidas increased business with double-digit growth rates.

Adidas had already given key data for the third quarter last week and raised its operating profit forecast for the current year to 2.5 billion euros from 2.3 billion euros. "With everything we have achieved so far this year and what is still in our pipeline, we are confident that we will achieve sales growth of almost 2.5 billion euros for the year as a whole and increase operating profit to around 2.5 billion euros. We are extremely well positioned for 2026 - and also for 2027," said CEO Björn Gulden.

Dutch online pharmacy Redcare Pharmacy continues to benefit greatly from the introduction of e-prescription in Germany and has recorded a jump in profits in the third quarter. The adjusted operating result (Ebitda) rose by 68 percent to around 29 million euros, as the parent company of “Shop Apotheke” announced on Thursday. The bottom line was a net profit of one million euros for the second time in a row. The company confirmed the annual forecast, which was only raised in September.

Group sales climbed by 18 percent to 847 million euros in the past quarter. The main driver was the business with prescription drugs in Germany, which increased by 56 percent to 197 million euros. The adjusted Ebitda margin improved to 3.4 (previous year: 2.4) percent.

Due to weak business in the forklift and warehouse technology division, the industrial logistics group Kion has lowered its forecast for the current year. The company actually recorded increases in sales and operating profit in the first nine months thanks to a flourishing business with automation solutions. Group sales rose by 3.9 percent to 8.52 billion euros from January to September. The adjusted operating result (EBIT) improved by almost ten percent to 632.5 million euros, which corresponds to a margin of 7.4 percent.

For the year as a whole, Kion now expects sales of between 11.45 and 11.75 billion euros. Management had previously forecast revenues in a range of 11.525 to 12.025 billion euros. The group also lowered its expectations for operating profit: adjusted EBIT is now expected to be between 815 and 875 million euros in 2026. In July, the company was still expecting 880 to 980 million euros.

The Bavarian specialty chemicals group Alzchem continues to benefit from strong demand for the muscle building agent creatine and explosives. Sales rose by four percent to 443.8 million euros in the first nine months, as the company announced on Thursday in Trostberg. Earnings before interest, taxes, depreciation and amortization (Ebitda) climbed by eight percent to 93.2 million euros, and the operating margin improved to 21.0 (20.3) percent. Alzchem expects similar values ​​for the entire year.