Beiersdorf sees slower sales this year after bumper 2022

March 01, 2023 07:57 AM CET | By Reuters

(Adds details, outlook, shares)

BERLIN, March 1 (Reuters) -

Nivea maker Beiersdorf expects organic sales growth to slow this year to a mid-single-digit range after reporting double-digit growth for the first time in two decades in 2022 thanks to strong demand for its skin care products.

Beiersdorf shares fell 3.8% in pre-market trade at Lang & Schwarz after it reported the results on Wednesday.

The group improved its 2022 earnings before interest and tax (EBIT), excluding special factors, 16.6% to 1.2 billion euros ($1.27 billion), reaching an EBIT margin of 13.2%. It expects the figure to come in 50 basis points above last year's level in 2023.

Sales in Beiersdorf's consumer business, which includes Nivea, Eucerin and La Prairie products, grew 8.8% to 6.13 billion euros last year. In its Tesa adhesives unit, which serves the electronics and automotive markets, sales increased 13.6% to 1.5 billion euros. ($1 = 0.9422 euros) (Reporting by Jan C. Schwartz, Writing by Miranda Murray, Kirsti Knolle Editing by Paul Carrel)


The above content is directly sourced from Reuters under a contractual arrangement. The content is being provided as a convenience and for informational purposes only; and does not constitute an endorsement or approval by Kalkine Media of any of the products, services, or opinions of the organization or individual. The user is apprised that Kalkine Media bears no responsibility for the accuracy, legality, or content of Reuters, any external sites, or for that of subsequent links. The user is requested to contact Reuters directly for answers to questions regarding the content. Please note that Kalkine Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Top LSE Listed Companies