Beiersdorf Nine-Month Earnings Beat Estimates on Nivea Sales
Beiersdorf AG, the maker of Nivea skin cream and Labello lip balm, reported earnings that topped analysts’ estimates as its consumer unit’s sales growth accelerated in the third quarter.
Earnings before interest and taxes rose 12 percent to 750 million euros ($821 million), excluding some items, in the first nine months of the year, the company said Wednesday. Analysts expected 748 million euros, based on the average of estimates compiled by Bloomberg. Sales rose 6.8 percent to 5.04 billion euros, compared to the estimate of 5.06 billion euros.
Beiersdorf AG, based in Hamburg, has been expanding its flagship Nivea brand to reach men and younger consumers through social media campaigns on Facebook and Twitter. It also benefited from a near-10 percent gain in the dollar against the euro this year, lifting North American sales when they’re translated into Beiersdorf’s home currency.
The company reduced the top end of its previous forecast, predicting revenue this year will increase 3 percent to 4 percent on a so-called organic basis. Previously Beiersdorf forecast growth of as much as 5 percent.
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