Henkel Annual Report 2011

Weighted average cost of capital (WACC)


 2011

from 2012

Risk-free interest rate

0.0330.035

Market risk premium

0.0450.045

Beta factor

0.80.8

Cost of equity after tax

0.0680.071
   

Cost of debt capital before tax

0.0410.047

Tax shield (30 %)

-0.012-0.014

Cost of debt capital after tax

0.0290.033
   

Share of equity1
(peer group structure)

0.850.85

Share of debt capital1
(peer group structure)

0.150.15
   

WACC after tax2

0.0650.065

Tax rate

0.30.3

WACC before tax2

0.090.095

1 At market values.

2 Rounded.