Henkel 2020 Earnings, Sales Fell But Plans Unchanged Dividend
March 04 2021 - 2:27AM
Dow Jones News
By Joshua Stein
Henkel AG said Thursday that its earnings for 2020 fell due to
the substantial impact of the coronavirus pandemic but it would
keep its dividend steady.
The German consumer-goods company said sales for the year fell
to 19.25 billon euros ($23.22 billion), from EUR20.11 billion in
2019. Organically, sales fell by 0.7%. Earnings before interest and
taxes fell to EUR2.02 billion from EUR2.90 billion the year before,
it said.
Henkel said full-year results were at the upper end of its
guidance, though measures related to the pandemic hurt the beauty
care and adhesive technologies segments.
For the fourth quarter, sales came in at EUR4.77 billion, up
3.7% organically on the year.
The company will propose a dividend of EUR1.85 per preferred
share for 2020 and EUR1.83 per ordinary share, unchanged from
2019.
Looking ahead, Henkel said it expects industrial demand and
consumer segments to recover in 2021, which should push organic
sales growth of between 2.0% and 5.0%.
Write to Joshua Stein at joshua.stein@wsj.com
(END) Dow Jones Newswires
March 04, 2021 02:12 ET (07:12 GMT)
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