Henkel Withdraws 2020 Forecast

By RTTNews Staff Writer ✉ | Published: 4/7/2020 11:12 PM ET

Henkel AG & Co. KGaA said that its forecast for fiscal 2020 published in the annual report 2019 will no longer be upheld. A reliable and realistic evaluation of the future business performance of the company is currently not possible, as the dynamic development of the COVID-19 pandemic impacts the global economy.

The development of Henkel in the first quarter of 2020 is already impacted by the effects of the COVID-19 pandemic. Henkel expects Group organic sales to be down 0.9 percent in the first quarter of 2020.

For the Adhesive Technologies business unit, Henkel expects organic sales growth of -4.1 percent for the first quarter. Beauty Care is expected to report a decline in organic sales of -3.9 percent. While the hair salon business was significantly impacted by the closure of hairdressing stores ordered by many authorities, the organic sales growth of the retail business compared to the previous year was stable.

Henkel will publish its financial results for the first quarter of 2020 on May 11, 2020.

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