Beiersdorf reports solid Q1 growth | Progresiv
Beiersdorf has reported a solid rise in sales for its fiscal first quarter, and reiterated its forecast for the full year. For the quarter, sales were up 6.5% to 1.81 billion euros (+0.4% organic basis), as a 3.6% rise to 329 million euros at its tesa adhesives business helped offset a 0.3% decline to 1.48 billion euros at its Consumer unit. 
Sales of the Nivea brand rose by 1.9%, while the Derma unit (Eucerin and Aquaphor) recorded an 8.5% increase, and La Prairie saw its sales soar by 55.5%. However, the Hansaplast and Elastoplast brands saw their sales decline by 2.7%.
CEO Stefan Heidenreich noted: “Both business segments, consumer and tesa, delivered very dynamic performance and sales growth well above the market. These significant growth rates once again demonstrate Beiersdorf’s strong international position and high level of competitiveness.”
For the full year, Beiersdorf expects sales to grow by 4%, with operating margin set to grow slightly. (www.kamcity.com)
