DUSSELDORF, GERMANY – Henkel Corp.s first-quarter sales were 3.3 billion euros, up 3.1% sequentially, on the acquisition of the National Starch businesses in April 2008.
Operating profit fell 31.7% to 218 million euros year-over-year. Net earnings for the quarter fell 45.7% to 121 million euros compared to the prior year period.
The companys adhesive technologies business saw organic sales decline 18.2% during the quarter. Overall sales of adhesive technologies increased 7.7% to 1.47 billion euros, as a result of the acquisition. The groups operating profit fell 68.6% year-over-year to 47 million euros.
Henkel expects the current market conditions to persist through 2009. For the second quarter, the firm expects its adhesive technologies business to show a slight improvement.