Beiersdorf: neglected after quarterly results

(CercleFinance.com) - Beiersdorf shares are down 3% in Frankfurt, following the cosmetics group's publication of EBIT excluding exceptional items of E838m for H1 2024, representing a margin down 1.
1 point to 16.2%.

EBIT was supported by a strong increase in gross margin, while reinvestment in marketing, digitalization and sustainability efforts should enable more balanced profitability throughout the year, it says.

At E5.2bn, sales were up 7.1% on an organic basis, with tesa up by just 2.9%, but growth of 8% for the consumer business, notably driven by 11.1% growth for Nivea.

Confident for FY 2024, Beiersdorf confirms that it expects organic sales growth of 6%-8%, as well as an EBIT margin (excluding exceptional factors) slightly above last year's level.


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