Beiersdorf Nine-Month Sales Fell, But 3Q Shows Improvement
October 28 2020 - 3:57AM
Dow Jones News
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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