Dusseldorf, Germany - Sales generated by Henkel's Adhesive Technologies business, which houses polyurethane products, unit rose slightly by 0.6% to EUR 9.46bn in fiscal 2019.
Henkel adhesives sales and earnings flat in 2019
The company said this was as a result of the 'challenging industrial environment with strongly declining automotive and electronics sectors. This fed through to the EBIT line. This measure was down year on-year by 2.8% and reached EUR 1.71bn.
'Our Adhesive Technologies business unit was impacted by a marked slowdown in key customer segments, in particular in the automotive and electronics industry,' said Carsten Knobel, Henkel CEO.
Overall sales were EUR 20.1bn in 2019 up 1.1% on the previous financial year. Adjusted EBIT across the business fell by 2.3%. It reached EUR 3.22bn in 2019. This compares with EUR 3.3bn in 2018.