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Share Name Share Symbol Market Type
Beiersdorf AG XE:BEI XETRA Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.04 0.04% 90.38 90.10 90.16 91.30 89.60 90.56 577,450 16:45:00

Beiersdorf Nine-Month Sales Fell, But 3Q Shows Improvement

28/10/2020 7:57am

Dow Jones News


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   By Giulia Petroni 
 

Beiersdorf AG said Wednesday that sales fell for the first nine months of the year, but results improved in the third quarter thanks in part to strong demand for its dermocosmetics brands.

The German maker of personal-care products reported sales of 5.24 billion euros ($6.19 billion) from EUR5.73 billion in the previous-year period. On an organic basis, sales decreased 7.1% on year.

Sales at the consumer business segment fell 7.7% organically, while the self-adhesive product business, Tesa, registered an organic decline of 4.6%.

"The company's results improved significantly in the third quarter," Chief Executive Stefan De Loecker said. "The dermocosmetics market has proven particularly resilient in this crisis and we achieved strong double-digit sales growth across all regions."

Beiersdorf said it expects sales growth to be at year-to-date levels or to improve slightly in the full-year. Earnings before interest and taxes margins for the group and the consumer business segment in 2020 are expected to be significantly below the previous-year. For Tesa, the Ebit margin is expected at around the prior-year level.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

October 28, 2020 03:42 ET (07:42 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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