Beiersdorf annual sales rise but expects skincare growth to slow in 2025

Nivea owner Beiersdorf has achieved record sales in 2024, but expects skincare growth to slow in 2025.

The German multinational company saw sales reach an all-time high during the year, rising 6.5% to €9.9 billion (£8.1 billion). Its consumer business segment remained the top sales driver, delivering a 7.5% increase in sales to €8.2 billion (£6.7 billion).

All regions contributed to growth, with Europe rising 5.3%, Americas up 7%, and Africa, Asia and Australia growing 11.3%.

Strengthened by increased volumes and successful pricing strategies, Nivea reported growth of 9% to €5.6 billion (£4.6 billion). The brand's Luminous 630 range with the patented anti-spot ingredient Thiamidol achieved 34% growth.

Meanwhile, derma brands Eucerin and Aquaphor delivered  another "impressive" year in 2024, achieving double-digit sales growth of 10.6% with sales totalling €1.4 billion (£1.1 billion).

Growth was driven by a series of "strong" innovations, with Eucerin becoming the second billion euro brand in Beiersdorf’s consumer portfolio in 2024 after Nivea.

However, its luxury and selective brand La Prairie once again faced major challenges as "difficult" macroeconomic conditions in China weighed on its sales performance.

In contrast, luxury beauty brand Chantecaille continuously improved its performance over the year, with an sales growth of 4.5% boosted by a "successful" expansion in Asia.

Looking ahead, Beiersdorf expects the global skincare market to continue growing in 2025, although at a slower pace than in the prior year. As a result, it expects organic sales growth in the range of 4-6% for the consumer business segment.

Vincent Warnery, CEO of Beiersdorf, said: "We continued our exceptional development of the past years in 2024 and achieved another sales record even in a challenging market.

"Our strong 2024 results are another milestone for us on our way to becoming the best skincare company in the world. Beiersdorf is fully on track to generate further growth together with our exceptional international teams. We are focusing on our strong brands, delivering breakthrough innovations and expanding into new markets, categories, and channels. With the group guidance for 2025, we believe we will outperform the market again this year."

The trading update comes as Beiersdorf announces the extension of Warnery's contract until the end of 2030.

"I am delighted to have been given the mandate to continue leading Beiersdorf into the future and to bring our ambition to life," added Warnery, who first joined Beiersdorf in 2021.