Beiersdorf Sales Achieves €4.9Bn in H1 with NIVEA Up 18.4%
- Chaileedo Press
- Aug 3, 2023
- 2 min read
The consumer business segment achieves organic sales by 14.9%, with nominal sales rising by 12.9% to €4.1 billion ($4.5 billion).
Beiersdorf, the German personal care and cosmetics company, has reported strong financial results for the first half of 2023, with group sales reaching €4.9 billion, up 12.3% in organic terms compared to the same period in the previous year.
The company's operating result (EBIT) also improved significantly, reaching €852 million, up from €710 million in the first half of 2022, with an EBIT margin (excluding special factors) of 17.3%. The impressive results were driven by the global success of Beiersdorf's core brand, NIVEA, which grew 17.9%, and the dermatological brands Eucerin and Aquaphor, which grew 26.1%.
In terms of the segment, the consumer business segment achieves organic sales by 14.9%, with nominal sales rising by 12.9% to €4.1 billion. The EBIT for the segment increased to €700 million, up from €550 million in the previous year. The core brand NIVEA, including Labello, grew in all regions and categories by 18.4% year-on-year in organic terms. The Derma brands Eucerin and Aquaphor also continued their success story, with organic sales growth of 26.1%. However, the luxury brand La Prairie recorded a 9.9% fall in sales due to disruption in Asian travel retail markets caused by "daigou" business.
Given the positive sales trend and above-market growth in the first half of the year, Beiersdorf has slightly increased its sales forecast for 2023 as a whole. The company expects organic sales growth in the high single-digit to low double-digit range for the consumer business segment. Beiersdorf also expects the consolidated EBIT margin from ongoing operations (excluding special factors) to be slightly up on the previous year's level.
CEO, Vincent Warnery, stated: “We not only continued our growth path but also significantly increased our profitability in the first half of the year. Our Consumer Business outperformed the market in terms of growth. Both NIVEA and the Derma brands grew strongly in all regions and categories and more than offset the weaker performance of our luxury business. These positive results give us confidence for the next months, even though we still expect headwinds in some areas. We are therefore increasing our sales forecast for the Consumer Business Segment and the Group.”
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