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Henkel H1 Adj. Profit Down On Weak Sales; Not To Issue FY View

German consumer goods maker Henkel AG & Co. KGaA (HENOY, HENKY) reported Thursday that its first-half adjusted earnings per preferred share decreased 29.2 percent to 1.96 euros from 2.77 euros last year.

Adjusted operating profit or adjusted EBIT was 1.19 billion euros, 27.5 percent lower than prior year's 1.64 billion euros. Adjusted EBIT margin in the first six months reached 12.6 percent, down 3.7 percentage points below the prior year.

Henkel recorded sales of 9.49 billion euros, a decline of 6 percent from last year in nominal terms and 5.2 percent in organic terms.

In the second quarter, sales were 4.56 billion euros, down 11 percent.

Henkel said it delivered overall robust business performance despite substantial impact from COVID-19 pandemic.

Looking ahead, Henkel CEO Carsten Knobel said, "Given the continued uncertainties, however we cannot provide a new and reliable outlook for the full-year at this point in time."

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