Subscribe Login
A-Brands

Nivea Maker Beiersdorf Upbeat As Demand Roars Past Pre-Pandemic Levels

Nivea maker Beiersdorf expects its 2021 group sales to rise by close to 10% this year, it said on Thursday, as strong demand for adhesives and its dermatological brands pushed its first-half revenues above pre-pandemic levels.

"This is the momentum we want to use going forward," Beiersdorf's new Chief Executive Vincent Warnery said in a statement.

Under his predecessor Stefan de Loecker, Beiersdorf invested more in its consumer business to revive slowing sales growth and bought U.S. sun care brand Coppertone from Bayer for $550 million to strengthen its position in North America.

Organic Sales Jump 

Organic sales jumped by 28.3% in the second quarter, bringing growth for the first half to 16.2%. Six-month revenues of €3.87 billion were a tad above consensus for €3.82 billion according to Refinitiv IBES data.

The Hamburg-based firm said it sees full-year group sales growing by a high single-digit percentage, having previously said only that it saw positive sales growth for 2021.

Beiersdorf's first-half margin on EBIT (earnings before interest and tax) widened to 15.3% from 13.7%. For the full year, however, it expects the margin to remain flat from 2020 due to rising material prices and investments in digitisation and innovation.

Shares in Beiersdorf rose 1.6% in early trade.

News by Reuters edited by Donna Ahern, Checkout. For more A Brands stories click here. Click subscribe to sign up for the Checkout print edition.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Enjoy full access to Checkout Magazine, our weekly email news digest, access to all website and app content, and the latest digital magazine for a full 30 days.
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Enjoy full access to Checkout Magazine, our weekly email news digest, access to all website and app content, and the latest digital magazine for a full 30 days.
Enjoy unlimited digital access for 30 days