German consumer goods group Henkel trimmed its full-year earnings outlook on Monday saying it could not fully compensate for a spike in raw material prices, pushing its shares down more than 5%. "Tight supply chains and rising raw material and transport costs are proving to be particularly challenging," Chief Executive Carsten Knobel said in a statement. But it trimmed its forecast for 2021 adjusted earnings per preferred share at constant exchange rates to a percentage rise in the high single digits, from a previous range of high single-digits to mid-teens.
BERLIN (Reuters) -German consumer goods group Henkel voiced concern about rising prices and over-stretched supply chains, although it raised its full-year sales outlook on Thursday after its business rebounded above pre-crisis levels in the first half. "The exceptionally sharp rise in raw material prices and strained supply chains will weigh heavily on the economy in the further course of the year," Chief Executive Carsten Knobel said. Henkel was trying to limit the impact on profits, he added, and also said growth rates would probably slow in the second half of 2021 versus the first half as the rebound in industrial demand began in the second half of 2020.
Univar's (UNVR) unit ChemPoint inks a distribution agreement with Henkel for Bonderite products in the United States and Canada.