Beiersdorf Records 5.1% Organic Growth In First Three Quarters
Beiersdorf, the maker of Nivea, has posted group sales of €5,281 million in the first nine months of 2017, representing organic growth of 5.1%.
Consumer sales were up by 3.9% to €4,336 million, boosted by strong growth in Europe and the Americas.
The company says that all of its core brands contributed to this sales increase, including Nivea (+3.7%), Eucerin (+2.4%), Hansaplast (+2.7%) and La Prairie (+13.5%).
“Beiersdorf has further picked up the pace with strong sales growth in the first nine months of 2017," said Stefan F. Heidenreich, CEO of Beiersdorf.
"The consumer business segment demonstrated its competitiveness with above-market sales growth, recording substantial sales increases in the third quarter."
Beiersdorf says that it is raising its group sales forecast as a result of the strong performance in the third quarter.
The company now expects sales to grow by 4-5% in the full year 2017, while EBIT is expected to be up slightly compared to last year.
"Beiersdorf is well positioned with its business model and brands," added Heidenreich. "We look ahead to the coming months with confidence and trust in our strengths.”
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.