Beiersdorf: nine-month results miss as Nivea drags
(CercleFinance.com) - Germany's Beiersdorf missed expectations in the first nine months of its financial year 2018, in particular due to weakness at its Nivea brand.
At 5.4 billion euros, nominal sales were up 2.3% year-on-year, from 5.3 billion euros a year ago, with Nivea sales up just 2.7%.
Group sales rose 6% in organic terms in the first nine months of the year.
Beiersdorf said it expects sales growth of around 5% this year, with the consolidated EBIT margin from operations on a par with the level last year.
Shares of the Hamburg-based company dipped 2.7% to 90.4 euros this morning, underperforming the German blue-chip DAX index, which is down 0.7%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
At 5.4 billion euros, nominal sales were up 2.3% year-on-year, from 5.3 billion euros a year ago, with Nivea sales up just 2.7%.
Group sales rose 6% in organic terms in the first nine months of the year.
Beiersdorf said it expects sales growth of around 5% this year, with the consolidated EBIT margin from operations on a par with the level last year.
Shares of the Hamburg-based company dipped 2.7% to 90.4 euros this morning, underperforming the German blue-chip DAX index, which is down 0.7%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.