Entertainment Beiersdorf shares fall despite revival in sales - Group cautious

13:25  28 october  2020
13:25  28 october  2020 Source:   finanzen.net

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Organic Group sales fell by 3.6% in the first three months of the year. In nominal terms, Group sales stood at €1,910 million, down 1.9% on the prior-year Beiersdorf ’s foundations are strong enough to enable us to master and overcome this unprecedented crisis together – and emerge from it stronger in

Beiersdorf , the maker of Nivea and other skin care products, beat its consumer product rivals on Tuesday by posting a 6.5 percent rise in first-quarter organic group sales , but However, it reiterated a cautious forecast for 2018 sales growth of around 4 percent, predicting Tesa will record sales

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

PHILIPPE HUGUEN/AFP/Getty Images © Provided by Finanz.net PHILIPPE HUGUEN / AFP / Getty Images

Organic sales grew by 0.2 percent in the third quarter, announced the Hamburg-based DAX company Beiersdorf 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 full year, 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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Beiersdorf has reported a 2.8 percent uplift in organic group sales for the first half of the year to €3.358 billion. Europe, the Nivea manufacturer’s largest market, was also its biggest success story for the six months to June 30, with a nominal rise in sales of 0.4 percent and a 3.2 percent in organic

On this site you can consult the Beiersdorf Share Price. Also, find more information on Investments, Reports and further dates and materials on our company. Beiersdorf Share Price. Company Name.

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

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

The group is currently not in the 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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German consumer goods firm Beiersdorf said it was " cautiously optimistic" for 2020 despite reporting another quarter of slowing sales growth for its German consumer goods firm Beiersdorf reported a fall in sales of adhesives to the auto industry in the third quarter but new products boosted

Beiersdorf successfully continued its profitable growth path in 2017. Both the Consumer Business Segment and tesa achieved new sales records considerably They also simultaneously increased their market shares and improved their operating results. Group sales climbed organically by 5.7%.

Beiersdorf falls despite sales recovery

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 at times by 6.51 percent to 93.58 euros via XETRA, 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 with a view 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 weaken 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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