Henkel Withdraws 2020 View; 1Q Sales Were Hit by Virus

   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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