Henkel Withdraws 2020 Outlook As Coronavirus Uncertainty Hits
Germany’s Henkel has withdrawn its financial forecast for 2020 citing economic uncertainty due to the ongoing COVID-19 pandemic.
The consumer goods giant said that at present it is not possible to predict the future business performance of the company in 2020.
Henkel CEO Carsten Knobel, explained, “As the COVID-19 pandemic has worldwide reach and its further development is impossible to predict, we currently cannot make reliable projections for our business performance in 2020.”
Henkel expects its overall organic sales growth to decline by 0.9% in the first quarter of its financial year, according to preliminary results.
The consumer goods giant is likely to see a 5.5% growth in organic sales in its laundry and home care division, driven by strong demand.
ESM
Related news
This year’s Persil campaign supports the sport of underprivileged children
The goal of the “Persil for the Children” program is…
Read more >One of Henkel’s factories in Hungary is closing
The Henkel company has announced that it is carrying out…
Read more >Henkel achieved strong organic sales growth in the first quarter
In the first quarter of 2024, the Henkel Group achieved…
Read more >Related news
Budapest will host the European Ecological Farming Congress in September
This year, Budapest will host the European Organic Congress, which…
Read more >Another successful trade fair presence by the Future Store
Trade magazin, the official journal of SIRHA Budapest 2024 was…
Read more >Alimentaria & Hostelco: sustainability and responsible production in the spotlight
Food and hospitality trade fair Alimentaria & Hostelco took place…
Read more >