Beiersdorf, the maker of Nivea, has reported a 10.5% increase in sales to €4.5 billion in the first half of its financial year, with its consumer business segment seeing sales up 11.7%.
In a statement, the group said that it 'continued its strong growth course' in the first half of the year, 'despite a challenging market environment', reporting an EBIT margin of 15.9% for the period.
It noted that positive margin effects were 'partially offset' by higher commodity and transport costs.
'Successful Year So Far'
“2022 has been a successful year for us so far," commented Vincent Warnery, chief executive.
"In an increasingly challenging environment, Beiersdorf carried the strong growth momentum from the start of the year into the second quarter and posted double-digit sales growth at group level. We were also able to significantly improve our profitability."
Its consumer business segment reported sales of €3.6 billion, noting that all regions contributed to its positive performance, particularly the Americas, which reported 'significant growth'.
Sales of the Nivea brand rose 11.2% in organic terms, with the sun, lip, face, and body care categories lifting its skincare business, and deodorants and shower gels boosting its personal care range.
Elsewhere, its Derma business, which includes Eucerin and Aquaphor, reported a 26.6% sales increase, La Prairie was up 1.8%, and its Healthcare business, which includes the Hansaplast brand, rose 14.9%. Its tesa operating segment reported sales growth of 5.4%
Looking ahead to the remainder of the year, Beiersdorf said that due to the 'macroeconomic volatility' and 'unusually high degree of uncertainty', its ability to make a reliable forecast was limited, although it did note that it expects sales growth at the upper end of the mid-single-digit range in its consumer business segment.
"In the second half of 2022 we expect additional headwinds from economic and political tensions, and are confirming our full-year guidance," Warnery added.
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© 2022 European Supermarket Magazine – your source for the latest A-Brands news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.