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."
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.