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Henkel Q1 Group Sales Slips Amid Covid-19

German consumer goods maker Henkel AG & Co. KGaA (HENOY, HENKY) Monday reported 0.8 percent down slide in Group sales for the first quarter, amid covid-19 pandemic crisis, and said its forecast for fiscal 2020 published in the annual report 2019 can no longer be upheld.

For the first quarter, the Group said its sales declined nominally by 0.8 percent to 4.9 billion euros, while it was down 0.9 percent on an organic basis.

Division wise, Adhesive Technologies was impacted mainly by significantly lower demand from the automotive industry, and Beauty Care sales were also down as the hair salon business was impacted by salon closures due to the global pandemic crisis in numerous countries.

Meanwhile, sales growth in the Branded Consumer Goods business was flat compared to the year ago, thanks to strong demand for laundry detergents and household cleaners. Laundry & Home Care achieved very strong organic sales growth.

Looking ahead to the full year 2020, the Group said the board has decided that the forecast for fiscal 2020 published in the Annual Report 2019 can no longer be upheld, and due to the uncertainty, a reliable and realistic evaluation of the future business performance is currently not possible.

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