Beiersdorf Backs 2022 Guidance After 1Q Sales Rose

   By Cristina Roca 
 

Beiersdorf AG said Thursday that its sales rose strongly in the first quarter, boosted by demand for consumer-segment products that had lagged previously due to the coronavirus pandemic, and backed its full-year targets.

Sales rose on an organic basis by 10% to 2.2 billion euros ($2.3 billion), the German maker of personal-care products said, confirming a figure released earlier in April. All regions and units contributed to growth, the company said.

"Recovery was evident especially in product categories such as deodorants, facial cleansing and lip care, which had suffered the most from pandemic restrictions," Beiersdorf said.

The company, which owns skincare brands including Eucerin and Nivea, said that for 2022 it still expects its consumer segment's operating margin on earnings before interest and taxes to rise slightly on the year.

The Tesa self-adhesive business should grow in the low to mid single-digit range in 2022, Beiersdorf said. It had previously guided for mid-single-digit sales growth at the unit. The company cited a hit from stringent lockdowns in the important Chinese market and supply-chain issues in the auto industry.

Beiersdorf backed its group-level 2022 guidance for mid-single-digit sales growth and a stable EBIT margin from continuing operations, excluding special factors.

Write to Cristina Roca at [e-mail]

(END) Dow Jones Newswires

April 28, 2022 02:05 ET (06:05 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.