Lennart Schulenburg, Commercial Director, VisiConsult X-ray Systems & Solutions GmbH

As a global company that engages with many multinational customers, Henkel's broad capabilities around the world have allowed us to lessen the impact of the China tariff dispute.

We've seen customers and partners in the region shift to more local supply chains, and Henkel's operations in China are able to satisfy this requirement. While some slowing occurred toward the end of 2019, our analysis suggests that this was primarily due to tighter inventory management driven by some of the market uncertainties.

While we adjust and respond to short-term situations, Henkel's long-term strategy drives our innovation priorities. We continue to invest significant resources in new product development and marketing activities that support our commitment to the growth of 5G, IoT, e-Mobility, telecom/datacom infrastructure, alternative energy and automation.

With several successful launches in 2019 and a solid product pipeline for 2020, Henkel's leadership in thermal management materials, gasketing and sealing solutions, inks and solders will continue to enable customers' ambitious technology roadmaps.

Our expectation for this year and beyond is that electronics for 5G, IoT and e-Mobility will continue to outpace the overall electronics market, and Henkel is well-positioned with materials portfolios for applications within these sectors.