Henkel will continue doing business in Russia for the time being, the German consumer goods group's chairperson has said, adding that the company's activities in the country are subject to restrictions.
"This is sometimes viewed very critically by the public. So, it is important to me to stress we are fully applying all applicable sanctions," chairperson Simone Bagel-Trah told shareholders at the group's annual general meeting.
She added Henkel's management would follow current geopolitical developments very closely and take further measures if necessary.
The group, which makes consumer products including Persil laundry detergents and has around 2,500 employees in Russia, stopped all investments as well as advertising and sponsoring measures in the country in early March.
"We are currently continuing local production and sales in Russia," commented Carsten Knobel, chairman of the management board. "These are mainly products for everyday use, for example cleaning and hygiene products.
And, of course, we bear a responsibility for our 2,500 employees in Russia. A complete withdrawal from Russian business can have far-reaching consequences, also for our local employees."
Henkel finance chief Marco Swoboda told the same meeting that the company was sticking to the 2022 targets it published in January, though said they were very ambitious given huge uncertainties and rising costs.
Irish food company Kerry Group is suspending its operations in Russia and Belarus, the company said on Monday.
A company statement said it has been monitoring the situation in Ukraine and was horrified at the escalation of the humanitarian crisis.
Irish ingredients giant Kerry Group closed its financial year 2021 with group revenue of €7.4 billion and volume growth of 8.0%.
The company’s taste and nutrition unit saw volumes up 8.3% during the financial year, while the consumer foods division posted a 6% increase in volume.