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%.
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