Beiersdorf Backs 2022 Guidance After 1Q Sales Rose
April 28 2022 - 1:20AM
Dow Jones News
By Cristina Roca
Beiersdorf AG said Thursday that its sales rose strongly in the
first quarter, boosted by demand for consumer-segment products that
had lagged previously due to the coronavirus pandemic, and backed
its full-year targets.
Sales rose on an organic basis by 10% to 2.2 billion euros ($2.3
billion), the German maker of personal-care products said,
confirming a figure released earlier in April. All regions and
units contributed to growth, the company said.
"Recovery was evident especially in product categories such as
deodorants, facial cleansing and lip care, which had suffered the
most from pandemic restrictions," Beiersdorf said.
The company, which owns skincare brands including Eucerin and
Nivea, said that for 2022 it still expects its consumer segment's
operating margin on earnings before interest and taxes to rise
slightly on the year.
The Tesa self-adhesive business should grow in the low to mid
single-digit range in 2022, Beiersdorf said. It had previously
guided for mid-single-digit sales growth at the unit. The company
cited a hit from stringent lockdowns in the important Chinese
market and supply-chain issues in the auto industry.
Beiersdorf backed its group-level 2022 guidance for
mid-single-digit sales growth and a stable EBIT margin from
continuing operations, excluding special factors.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
April 28, 2022 02:05 ET (06:05 GMT)
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