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Henkel Q1 Development Above Market; Expects Return To Sales, Earnings Growth In FY21

German consumer goods maker Henkel AG & Co. KGaA (HENOY, HENKY) reported Friday good start into 2021 with first-quarter development above market expectations. Despite these uncertainties, the company is aiming to return to sales and earnings growth in 2021.

Based on preliminary figures, the company still expects organic sales growth of around 7 percent in the first quarter.

Further, the company reported good progress in implementing strategic agenda for purposeful growth.

At today's Annual General Meeting of Henkel, CEO Carsten Knobel explained the effects of the Corona crisis and addressed the progress made in implementing the strategic agenda. He also highlighted the priorities for 2021 and reaffirmed the company's long-term strategic focus on purposeful growth.

The company also proposed a dividend on prior-year level of 1.85 euros per preferred share and 1.83 euros per ordinary share.

Commenting on expectations for the economic environment in the current fiscal year, Knobel said, "We expect industrial demand to recover, in some areas significantly. This also applies for consumer segments which are relevant for our company, in particular the Hair Salon business."

The CEO also pointed out the uncertainties that still exist with regard to future developments.

Henkel will provide further details and background on the sales development in the first quarter on May 6.

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