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Sports Beiersdorf shares fall despite sales recovery - question mark behind medium-term profit target

12:25  28 october  2020
12:25  28 october  2020 Source:   finanzen.net

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Sales from three of the company's four main businesses rose, with the healthcare unit recording a 25.5% jump and accounting for more than a quarter of the company's total sales . Many companies will be eager to put 2020 behind them and surely so will Boeing (BA).

The consumer goods group Beiersdorf was able to stop the decline in sales in the corona crisis.

YASUYOSHI CHIBA/AFP/Getty Images © Provided by Finanz.net YASUYOSHI CHIBA / AFP / Getty Images

Organic sales grew by 0.2 percent in the third quarter, the Hamburg-based DAX company Beiersdorf announced on Wednesday. In the first half of the year, organic sales had shrunk by 10.7 percent, after nine months they fell by a total of 7.1 percent. For the year as a whole, the manufacturer of Nivea and Tesa specified its forecast: The decline in sales in 2020 will probably be at the level of the first nine months. The EBIT margin for the group will be "significantly" below that of the previous year, but at Tesa it is expected to be roughly at the previous year's level.

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Amgen Inc reported higher-than-expected third quarter profit on Wednesday as lower costs and improved operating margins helped offset sales declines in some of its most important products.

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competitor Henkel returned to growth in the third quarter after the corona crisis had previously caused the Düsseldorf company to decline. The manufacturer of Pritt, Persil and Schwarzkopf recorded organic growth of 3.9 percent from July to September.

Beiersdorf puts question marks behind medium-term profit target

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The consumer goods group Beiersdorf is questioning its medium-term profit target.

The group is currently not in a position to confirm the goal of an EBIT margin for the consumer business around Nivea of ​​16 to 17 percent by 2023, as envisaged in its Care + strategy, said CFO Dessi Temperley on Wednesday in an interview with analysts . In view of the economic effects of the corona pandemic, Beiersdorf is in a phase of uncertainty. Overall, however, the group is sticking to the Care + strategy presented in 2019, which is also aimed at additional investments. For 2020, Beiersdorf expects a return on sales that will be significantly below the previous year's figure of around 14.5 percent.

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Today we are going to look at Beiersdorf Aktiengesellschaft (ETR:BEI) to see whether it might be an attractive investment prospect. ROCE measures the 'return' (pre-tax profit ) a company generates from capital employed in its business. All else being equal, a better business will have a higher ROCE.

Target CEO Brian Cornell said the retailer has benefited from investments in online shopping options, but it will have lower profits this quarter. Target said it has seen a more than 7% increase in same-store sales for its fiscal first quarter, as store sales decline slightly and online sales double.

Beiersdorf falls despite revival in sales - Group cautious

Positive analyst reactions to quarterly sales did not help Beiersdorf's shares on Wednesday in a very weak market environment. The shares of Hamburg's shares fell by 5.21 percent at times via XETRA to 94.88 euros, making them the weakest DAX value in the morning.

In the third quarter, business picked up again. Beiersdorf nevertheless remains cautious: "It is still not possible to predict when the situation will relax in the long term," said CEO Stefan De Loecker, referring to the Corona crisis.

Bernstein analyst Bruno Monteyne rated the sales target for the full year as "too cautious". It implies that the momentum will decrease again in the fourth quarter, according to the expert. The reluctance is probably due to the uncertainty about a second lockdown. (Reuters / dpa-AFX Broker)

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