Beiersdorf raises 2023 sales guidance on strong 9-month results
© Reuters. Nivea bottles are seen on a production line at the plant of German personal care company Beiersdorf in Hamburg, Germany, February 28, 2023. REUTERS/Fabian BimmerBERLIN -Nivea maker Beiersdorf raised its full-year sales guidance on Wednesday, as it reported a 11.2% hike in organic group sales in the first nine months, driven by its consumer business unit.
The German company now expects organic sales growth in the low-double-digit range versus the mid- to high-single-digit range growth it had forecast previously. Organic group sales came in at 7.3 billion euros in the first nine months of the year, 11.2% higher than the figure it reported for the same period a year earlier."Our iconic brands Nivea, Eucerin, and Aquaphor are leading the way with broad-based, double-digit growth rates, driven by impactful global and local initiatives," said CEO Vincent Warnery.
The only Beiersdorf brand to see a sales contraction was La Prairie, where sales dropped by 15.8% in the first nine months due to the negative influence of the so-called daigou reselling business in China and Korea, the company said.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.
{username} Just Now Share Follow this postUnfollow this post Save Saved. See Saved Items . This comment has already been saved in your Saved Items Author's response{commentContent} Reply 00 Report {username} Just NowAuthor's response Share Follow this postUnfollow this post Save Saved. See Saved Items .