Beiersdorf has generated sales worth €2.5 billion in the first quarter of its financial year, according to provisional figures released by the company.
It reflects a 12.2% year-on-year increase in organic group sales, which the Nivea-maker says is above current market expectations.
Organic sales in its consumer business segment in the personal care firm increased by 14.8% year-on-year to €2.1 billion, while its tesa business segment reported organic sales growth of 0.9% to €425 million.
Vincent Warnery, CEO of Beiersdorf said, "Our strategy is working – we are extremely well-positioned. In the first quarter, in addition to the Nivea business in Europe, our main growth and profitability drivers include the Nivea business in emerging markets and our successful derma business.
"This makes us more stable and able to withstand crises. We are therefore better able to compensate for volatility in individual areas."
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Based on the its performance in the first quarter, Beiersdorf has raised its organic sales growth forecast to the mid- to high-single-digit range for both the group and the consumer business segment in its financial year 2023.
Previously, it projected sales growth in the mid-single-digit range in each segment.
Organic sales growth in the mid-single-digit range is still expected for the tesa business segment, the company added.
The company said its forecast for EBIT margin is expected to remain the same, while the consolidated EBIT margin, excluding special factors, could be slightly above the 2022 level of 13.2%.
Beiersdorf will release its quarterly statement for the January - March quarter on 26 April 2023.
© 2023 European Supermarket Magazine – your source for the latest A Brands news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.