Beiersdorf raises FY forecast after strong YTD sales | Progresiv
Beiersdorf has raised its profit forecast for the full year, citing strong growth at its consumer business in the first three quarters of the year. 
The group said it now expects operating profit margin to significantly exceed last year’s 14.4% figure, compared to its previous forecast for a “slight improvement”. CFO Jesper Andersen added that the new forecast meant an increase by more than 50bps, without offering more details.
Beiersdorf said the upgrade was due to efficiency gains seen in procurement and logistics, as well as lower marketing costs.
For the first nine months of the year, sales edged down 0.1% to 5.04 billion euros, but excluding currency fluctuations, they were up 2.9%. The group did not publish profit figures for the period.
The Consumer business saw sales edge up 0.1% to 4.18 billion euros (+3.2% organic), helped by a “good performance” in Europe and increased sales in the Americas. All the core brands reported growth – Nivea was up 3.6%, Eucerin was up 2.9%, while La Prairie grew by 6.1%. Meanwhile, the tesa unit saw sales decline by 1% to 863 million euros (+1.2% organic). (www.kamcity.com)
