Henkel Withdraws 2020 View; 1Q Sales Were Hit by Virus
April 07 2020 - 11:40AM
Dow Jones News
By Cristina Roca
Henkel AG & Co. KGaA scrapped its 2020 guidance on Tuesday,
and said its first-quarter organic sales declined.
The German chemical and consumer-goods company said its organic
sales were 0.9% lower in the first quarter of the year based on
preliminary results, as the business began to feel the hit of the
coronavirus. Demand fell particularly in the automotive industry,
hurting Henkel's adhesive-technologies unit, the company said.
Henkel said it can't predict how the coronavirus will affect its
performance for the year, and that its 2020 guidance won't be
upheld any longer.
Henkel said it will guide on its 2020 performance as soon as it
can make a reliable forecast.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
April 07, 2020 12:25 ET (16:25 GMT)
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