Beiersdorf, the maker of Nivea, has reported a 12.2% increase in group sales in the first quarter of its financial year, to €2.5 billion.
Its Nivea skincare brand reported growth of 18% in the period, while its Derma business was up 26.9% and its Healthcare arm rose 7.6%. Its La Prairie business reported a 12% fall in sales, however.
“Beiersdorf had an excellent first quarter," commented chief executive Vincent Warnery. "Our efforts to transform Nivea are clearly paying off: Our brand icon grew in all regions and March was actually the best month in the history of the brand.
"With strong, double-digit sales growth, Nivea in Europe and in the Emerging Markets, along with our successful Derma business, compensated for a difficult quarter at La Prairie – one that was negatively impacted by the effects of the Corona lockdown in China."
Elsewhere, Beiersdorf's tesa business segment reported a 0.9% increase in sales during the period.
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Looking ahead to the remainder of the year, Beisersdorf expects to report organic sales growth in the mid-to-high single digit range in its consumer business segment, as well as exceed the previous year's EBIT margin.
For tesa, Beiersdorf anticipates sales growth in the mid-single digit range.
"If one wheel loses traction, the others will keep the vehicle moving forward," Warnery added. "That gives us even greater stability and security in times shaped by volatility and crises.”
© 2023 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.