Adhesive Technologies

How we performed

Organic sales growthGrowth in revenues after adjusting for effects arising from acquisitions, divestments and foreign exchange differences – i.e. “top line” growth generated from within.
of 3.6 percent
Adjusted¹ operating profit improved by 15.9 percent to 1,246 million euros
Adjusted¹ return on sales increased by 1.2 percentage points to 15.1 percent
Return on capital employedCapital invested in company assets and operations. Equity + interest-bearing liabilities.
(ROCEReturn on Capital Employed (ROCE)) up 1.9 percentage points to 16.5 percent
Economic value added (EVA^®)The EVA concept reflects the net wealth generated by a company over a certain period. A company achieves positive EVA when the operating result exceeds the weighted average cost of capital. The WACC corresponds to the yield on capital employed expected by the capital market. EVA is a registered trademark of Stern Stewart & Co.
improved by 81 million euros to 363 million euros

Top brands

www.loctite.de www.teroson.de www.technomelt.de

Innovations 2012

Loctite instant adhesives

The three new Loctite variants – 403, 408 and 460 – are extensively odor-free, offer improved moisture tolerance and are suitable for bonding almost any material – plastics, metals and even rubber.

www.loctite.co.uk/instantadhesives

Loctite Ablestik CDF 200P

Electronic devices are getting smaller, thinner and more capable – and so are the chips inside. Loctite Ablestik 200P is an electrically conductive die attach film that enables our customers to produce ultra-small, high-performance components in a simplified process.

www.henkel.com/electronics

Pattex Power PU-Schaum

Pattex PU-Schaum is extremely powerful, and also safe and easy to apply. Its improved insulating performance enhances energy efficiency. Thanks to its innovative formulation, it was the first PU foam containing MDIChemical abbreviation for diphenylmethane diisocyanate. MDI is a chemical compound from the aromatic isocyanate group. Pattex Power PU-Schaum (PU foam) uses a reduced-MDI formula.
to be released for unrestricted sale in retail following stricter European legislation.

www.pattex.de

Key financials*

in million euros	2011	2012	+/–
Sales	7,746	8,256	6.6 %
Proportion of Henkel sales	50 %	50 %	–
Operating profit (EBIT)	1,002	1,191	18.9 %
Adjusted operating profit (EBIT)	1,075	1,246	15.9 %
Return on sales (EBIT)	12.9 %	14.4 %	1.5 pp
Adjusted return on sales (EBIT)	13.9 %	15.1 %	1.2 pp
Return on capital employed (ROCE)	14.6 %	16.5 %	1.9 pp
Economic value added (EVA^® )	282	363	28.5 %
pp = percentage points ^* Calculated on the basis of units of 1,000 euros; figures commercially rounded.

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Sales development*

in percent	2012
Change versus previous year	6.6
Foreign exchange	3.5
Adjusted for foreign exchange	3.1
Acquisitions/divestments	– 0.5
Organic	3.6
of which price	3.5
of which volume	0.1
^* Calculated on the basis of units of 1,000 euros.