Henkel boss dampens hope of raising profit forecast
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The DAX group Henkel is benefiting from the Corona crisis. In contrast to the US competitor Procter & Gamble, however, he does not want to raise the profit forecast. Because another division is suffering particularly hard from the pandemic.
Henkel is benefiting from the corona crisis with its extensive detergents and cleaning agents division. “Here we grew organically by more than seven percent in the third quarter – thanks in part to newly launched hygiene products,” said Henkel CEO Carsten Knobel in an interview with WELT AM SONNTAG.
At the same time, he dampened expectations that the Dax company would also raise its sales and profit forecast for the 2020 financial year after its US rival Procter & Gamble. He should consider that the US company is a pure consumer goods manufacturer and therefore cannot be directly compared with Henkel, Knobel said:
“Our industrial business in particular was negatively impacted by the pandemic.” The Persil manufacturer is also the world’s largest producer of industrial adhesives, including for the automotive and aviation industries.
The first year at the top of the board he “certainly imagined differently”, said the Henkel boss: “The corona crisis means a turning point that has never been seen before. The company, with its 53,000 employees, has mastered the situation so far.
“Henkel is a super stable company with strong finances and a balanced portfolio,” said Knobel. The CEO was not satisfied with the situation in the detergent and cleaning agent business in the USA.
“Last year we continued to lose market share in North America. Initiating a turnaround this year is a key issue for us. ”The board will implement the turnaround vigorously.
He was relieved by the outcome of the US presidential election: “It is becoming apparent that the US, under Joe Biden’s leadership, will have a more constructive stance on trade issues and climate policy. I welcome that personally, but it also goes well with Henkel. “
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