Beiersdorf CEO Vincent Warnery said that the Nivea maker took a number of "highly promising strategic steps" during its most recent financial year, in which the business saw sales rise 9.7% to €7.6 billion.
The Nivea and Eucerin maker reported sales of €7.6 billion for the period, with its Consumer Business segment up 8.8% to €6.1 billion and tesa up 13.6% to €1.5 billion.
The company also said that it made 'significant progress' in terms of its C.A.R.E.+ development strategy, specifically in the areas of sustainability, innovation, digitalization, and growth.
'New And Attractive' Growth Potential
“We made very good progress in all areas of our C.A.R.E.+ strategy," Warnery commented.
"We tapped new and attractive growth potential, enhanced our capacity to innovate, and achieved major milestones as part of our digital and sustainable transformation – despite many adverse circumstances resulting particularly from the coronavirus pandemic and higher material and transport costs.”
In terms of its core divisions, the Consumer Business segment reported strong growth in Latin America (18.8%) and North America (13.0%). Eastern Europe (6.3%) and Western Europe (5.7%) also reported solid growth, the company said.
Its Nivea brand recorded organic sales growth of 5.5% in 2021, boosted by the Nivea Luminous 630 product range. The group recently announced the acquisition of US skincare brand Chantecaille, as well as opening a new innovation centre in New Jersey.
Elsewhere, the performance of the tesa business segment was underpinned mainly by industrial business, in particular by the electronics and automotive business.
Forecast For The Year Ahead
Looking ahead, the group said that the continuation of the COVID-19 situation, coupled with an 'unusually high degree of uncertainty with regard to future business prospects', has made it difficult to issue a reliable forecast.
However, it still believes it will 'outperform the market' in skin care during 2022, with the segment continuing to improve as pandemic measures ease.
It expects its Consumer Business segment to post sales growth in the 'mid single-digit range', while tesa is also expected to report a similar level of growth.
Consolidated EBIT margin from ongoing operations (excluding special factors) is expected to be around the previous year's level.
© 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.