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THE WHAT? Beiersdorf has reported its results for the first half of fiscal 2024. The manufacturer of Nivea said that sales rose 7.1 percent in organic terms (+4.8 percent in nominal terms) to €5.2 billion, outperforming the market thanks to strong growth from its Consumer Business Segment (+8 percent in organic terms, +5.4 percent in nominal terms).
THE DETAILS Both Nivea andderma brands, Eucerin and Aquaphor, delivered strong growth at +7.6 percent and +7.7 percent in nominal terms respectively). Luxury brand La Prairie, however, saw sales decline 7.2 percent, attributed to the continuing weak Chinese demand.
The La Prairie owner confirmed its sales guidance for the full year as a result, as well as an ambition to grow its Consumer Business EBIT margin by 50 bps. The highly anticipated launch of its latest anti-aging innovation, Epicelline hits shelves in the second half.
THE WHY? Vincent Warnery, CEO of Beiersdorf, reveals, “Beiersdorf delivered again a strong performance in the first half of 2024. Growing by 8 percent in sales, our Consumer Business continues to outperform its competition and strengthen its leading position in the skin care industry. Especially our icon NIVEA led the way with a double-digit sales increase combined with growth across all key regions and categories. These positive results more than offset the recurring headwinds in the challenging luxury market, which were particularly evident in China.”
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