Halt in sales growth will be temporary, Stahl says
19/11/2019
These figures mean overall revenues fell by 4.1% year on year, while the decrease for leather chemicals was 6.3%.
At the 2019 investor day held by parent group Wendel in mid-November, Stahl said current tough market circumstances had led to “a temporary halt in the strong sales growth of the past”.
It said there had been weak end-market demand and lower-volume sales of leather, especially in the automotive and shoe sectors. Furthermore, it said overall macro-economic weakness in China, linked to the trade dispute with the US, had affected the leather industry, as had a general slowdown in the global economy.
However, on a more optimistic note, the company said meat demand continues to grow, with a slaughter rate that will increase, and that the luxury segment is also growing and demanding “more reliable, sustainable and high-performance leather”.
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