“Despite the ongoing COVID-19 pandemic we expect that Henkel will report a very good performance in the first quarter of the year, in particular, driven by the Adhesive Technologies business unit,” said Henkel CEO Carsten Knobel.
Last month, the group, best known for its Schwarzkopf hair care products and Persil detergents, forecast organic sales growth of 2% to 5% for 2021 and a rise in adjusted earnings per preferred share of 5% to 15%, at constant exchange rates.
Performance In 2020
In 2020, Henkel's sales fell 4.3% to €19.25 billion, while adjusted operating profit dropped 20% to €2.579 billion, both slightly ahead of average analyst consensus.
Before the coronavirus outbreak in Europe, Henkel had forecast organic sales to increase up to 2% in 2020.
Sales at its adhesives business, which accounts for around half of group sales and largely relies on demand from industrial customers like the auto makers, fell 4.2% in 2020, while the beauty care division reported a decline of 2.8%. [Pic: ©Ralf Liebhold/123RF.COM]