Nivea owner Beiersdorf posted 10.5% organic sales growth in the first half of the year, it said on Thursday, affirming its guidance for the full year.
First-half sales grew to €4.48 billion ($4.55 billion) from €3.87 billion in the year-earlier period, with an adjusted operating profit (adjusted EBIT) of €710 millions, up from €595 million a year earlier.
The group said in June that it expects its 2022 revenue to reach the upper end of its forecast for a medium single-digit percentage increase.
New Mid-Term Goals
It also announced new mid-term goals including above-market growth as it has benefited from strong sunscreen and face care demand.
“2022 has been a successful year for us so far," commented Vincent Warnery, chief executive in a statement.
"In an increasingly challenging environment, Beiersdorf carried the strong growth momentum from the start of the year into the second quarter and posted double-digit sales growth at group level. We were also able to significantly improve our profitability."
Full-Year Outlook
Looking ahead to the remainder of the year, Beiersdorf said that due to the 'macroeconomic volatility' and 'unusually high degree of uncertainty', its ability to make a reliable forecast was limited, although it did note that it expects sales growth at the upper end of the mid-single-digit range in its consumer business segment.
"In the second half of 2022 we expect additional headwinds from economic and political tensions, and are confirming our full-year guidance," Warnery added.
News by Reuters, additional reporting and edited by Donna Ahern, Checkout. For more A-brands stories, click here. Click subscribe to sign up for the Checkout print edition.
