Henkel FY20 Sales Down 4.3% On Lower Demand Due To COVID-19 Pandemic

Henkel (HENOY.PK,HENKY.PK) reported a 4.3% decline in group sales for the fiscal year 2020, reflecting a significant decrease in demand from key industry customers due to the COVID-19 pandemic.

Adjusted earnings per preferred share decreased by 21.5% to 4.26 euros from 5.43 euros in fiscal
2019. At constant exchange rates, adjusted earnings per preferred share fell by 17.9%.

Group sales for the year 2020 amounted to 19.3 billion euros. Organic sales growth, which excludes the impact of currency effects and acquisitions/divestments, was slightly negative at 0.7%. The contribution from acquisitions and divestments amounted to 0.3%. Currency effects had a negative impact of 3.9% on sales.

"Despite the sharp decline of the global economy as a result of the COVID-19 pandemic in 2020, we delivered an overall robust performance across all business units. For the full year, our results were at the upper end of our guidance. We achieved this thanks to our balanced portfolio, successful innovations, and financial strength as well as the outstanding commitment of our employees around the world," said Henkel CEO Carsten Knobel.

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