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Beiersdorf AG XE:BEI XETRA Ordinary Share
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Beiersdorf Says 1Q Sales Were Above Views, But Cautions on Volatile Market

08/04/2022 11:39am

Dow Jones News


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By Ed Frankl

 

Beiersdorf AG said Friday that its first-quarter sales growth would be above market expectations, though kept its full-year guidance unchanged on an unstable market environment.

The German personal-care products manufacturer said sales growth in the quarter would be 10.3%, with revenue of 2.22 billion euros ($2.42 billion).

Organic sales in its consumer-business segment climbed 11.6% on year, Beiersdorf added.

The financial figures are provisional, it said.

Beiersdorf didn't reference which specific market expectations were exceeded.

The company kept its full-year sales forecast at its consumer segment unchanged, "in light of the ongoing volatile market environment."

Beiersdorf, whose brands include Nivea, Tesa and La Prairie, anticipates sales growth in the mid-single-digit range for its consumer business.

There remain uncertainties due to the war in Ukraine, coronavirus-related lockdowns in China, and inflationary pressures on raw-material and logistics costs, though measures to mitigate the effects have been taken, the Hamburg-based company said.

Full first-quarter results, including a statement on its 2022 forecast for its earnings before interest and taxes margin, are due on April 28, it said.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

April 08, 2022 06:24 ET (10:24 GMT)

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

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