Henkel: withdraws forecast as virus impact 'not predictable'

(CercleFinance.com) - German consumer goods maker Henkel has become the latest to withdraw its earnings outlook on Wednesday, saying that the impact due to the COVID-19 pandemic is "currently not predictable".


In a statement, the Düsseldorf-based company said a "reliable" and "realistic" evaluation of its future business performance is not possible.

"It is currently not possible to predict with sufficient reliability over what period and to what extent Henkel will face further impacts in fiscal 2020, and to what extent these can be offset by countermeasures," the group said.

Based on preliminary results, Henkel expects its first-quarter sales to be down 0.9% in organic terms, with sales in its adhesive business down 4.1% as demand has crumbled in the auto industry.

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