Weak sales figures for Beiersdorf in Q1 | Progresiv

Beiersdorf has reported weak sales figures for its most recent quarter, hurt by weakness at its Tesa adhesives division. 

For the first quarter (ending 31 March), sales were up 2.4% on an organic basis (-1.9% to 1.67 billion euros), coming in below analysts’ estimates. Sales at Tesa were down 5.9% to 277 million euros (-3.2% organic), while the Consumer products division recorded a 1.1% decline to 1.4bn (+3.6% organic).

Sales in Europe were up 0.9% to 888 million euros (+3.5% organic), but they fell by 8.5% to 287 million euros in the Americas (-0.5% organic), and by 2.7% to 498 million euros in Africa/Asia/Australia (+2.4% organic).

CEO Stefan Heidenreich warned that Tesa might continue to drag on group results, noting: “We do not expect to see a short-time recovery in Asia's electronics business and there is not much we can do about it as this is completely market driven”.

However, Beiersdorf confirmed its full-year forecast of sales to grow by 3%-4% on an organic basis. (www.kamcity.com)