Beiersdorf: first-quarter sales drop on corona pandemic
(CercleFinance.com) - Beiersdorf, the German maker of Nivea skin creams and Hansaplast bandages, posted a drop in first-quarter sales as a result of the global Covid-19 pandemic.
Organic sales fell by 3.6% in the first three months of the year, the Hamburg-based group said in a statement on Tuesday.
In nominal terms, sales came in at 1.91 billion euros, down 1.9% year-on-year.
For full-year 2020, the company said that it is unable to project the economic impact of the coronavirus crisis, which prompted the company to withdraw its financial guidance.
Its shares were trading down 0.8% in Frankfurt after this report.
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