Henkel AG & Co. KGaA on Thursday reported a decline in first-half earnings and sales whereby adjusted earnings per preferred share decreased 29.2 percent to 1.96 euros from 2.77 euros last year.

 

The German consumer-goods company posted first-half earnings before interest and taxes of 1.09 billion euros compared with EUR1.49 billion a year earlier.

 

Sales for the first half dropped to EUR9.49 billion from EUR10.09 billion, while second-quarter sales came in at EUR4.56 billion compared with EUR5.12 billion a year earlier.

 

Adjusted operating profit fell to EUR1.19 billion from EUR1.64 billion a year earlier.

 

Its Adhesive Technologies business was hit mainly by declining demand in key customer industries, while its Beauty Care business was especially hit by coronavirus-related salon closures, it said.

 

The Laundry & Home Care business showed a very strong development supported by a surge in demand for cleaning products.

 

Henkel said it delivered overall robust business performance despite substantial impact from COVID-19 pandemic.

 

Looking ahead, Henkel CEO Carsten Knobel said, "Given the continued uncertainties, however we cannot provide a new and reliable outlook for the full-year at this point in time."

 

“As we are managing the current crisis, we remain fully dedicated to our ambitious growth agenda for the coming years. We started first initiatives in line with our new strategic framework and will continue to actively drive the implementation of our agenda for purposeful growth.” said Carsten