Beiersdorf updates outlook after sales rise
Beiersdorf has reported a 11.1% increase in sales to £5.8 billion (€6.7 billion) in the first nine months of 2022, despite "a challenging market environment".
The owner of Nivea and La Prairie said its consumer business segment saw organic sales growth of 11.7% to £4.6 billion (€5.4 billion), with all regions and brands contributing to this growth.
Nivea sales grew by 10.8%, with personal care and skincare contributing equally to this growth. Along with categories such as suncream and deodorant.
Eucerin and Aquaphor saw a 25.3% in sales, with all regions recording double-digit growth since the beginning of the year.
La Prairie achieved sales growth of 5.5%, driven by an "excellent" third quarter in which the brand recovered from lockdown-related restrictions in the first half of the year.
In Beiersdorf's healthcare business, which includes Hansaplast and Elastoplast, sales increased by 12.8%.
In Europe, the group's sales increased 6.6% to £2.5 billion (€2.9 billion), with Western Europe consumer sales up 6.4% to £1.9 billion (€2.3 billion).
Looking ahead, Beiersdorf now expects sales growth of 9% to 10% in the consumer business segment.
Vincent Warnery, CEO of Beiersdorf: “We retained the strong growth dynamic of the first half of the year in the third quarter and achieved broad-based, double-digit growth rates. For the full year, we are raising our sales guidance while being aware of the economic uncertainties in the fourth quarter.”
