Beiersdorf H1 results hurt by unfavourable summer weather | Progresiv
Beiersdorf has reported a decline in first-half sales, hurt by a unfavourable summer weather across Europe. However, the group said it was “cautiously confident” of reaching its full-year forecast. 
For the six months, sales were down 1.3% to 3.36 billion euros, although they grew by 2.8% on an organic basis. Meanwhile, underlying operating profit was up 1% to 513 million euros.
Sales in Europe were up 0.4% to 1.8 billion euros (+3.2% organic), but they declined by 1.7% to 981 million euros in Africa/Asia/Australia (+2.6% organic), and fell by 5.6% to 574 million euros in the Americas (+2.0% organic).
The Consumer Business segment saw sales decline by 1% to 2.8 billion euros (+3.3% organic), with operating profit rising by 3.4% to 424 million euros. All core brands reported growth, with Nivea sales up 4.2%, Eucerin growing by 1%, and La Prairie rising by 6.2%.
The tesa segment, however, saw sales segment by 2.7% to 560 million euros, with organic sales up 0.2%. Meanwhile, operating profit was down 9.2% to 89 million euros.
CEO Stefan Heidenreich said a rainy summer in western Europe had led to “substantial losses in sales” for sun cream products. He also attributed lower sales to the Brexit decision, which hurt consumer confidence. He added: “We stick to our position that things won’t get much better but we’ve already adjusted ourselves to that reality”. (www.kamcity.com)
