Beiersdorf: stock down after H1 results
(CercleFinance.com) - The Beiersdorf share is taking a hit, down over 2% in Frankfurt, following the presentation of H1 2020 operating profit excluding exceptional items of 472 million euros, corresponding to a margin of 13.
7%, compared with 15.4% a year ago.
At 3.45 billion euros, the German cosmetics group's sales - whose brands notably include Nivea - contracted by 10.1% (-10.7% in organic terms), which it attributes to the Covid-19 pandemic.
Regarding its FY outlook, Beiersdorf expects a decline in sales both at the group level and in its business segments, with the group's operating margin significantly below that of 2019.
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