BERLIN: German shopper items agency Beiersdorf reported a restoration for its Nivea pores and skin cream on Wednesday in addition to robust gross sales for different skincare manufacturers and its adhesives unit after the coronavirus pandemic precipitated a income drop within the first half.
Gross sales for the primary 9 months got here in at 5.7 billion euros ($6.74 billion), the Hamburg-based firm mentioned, a decline of seven.1% after stripping out the affect of acquisitions and forex actions, though third-quarter natural development was 0.2%.
Beiersdorf shares have been down 3.62% at 0841 GMT, barely underperforming a 3.27% weaker German blue-chip index.
The Nivea model grew 0.5% within the quarter on account of excessive demand for bathe and private care merchandise, stripping out the solar care enterprise, which has been hit by a decline in tourism.
Eucerin and Aquaphor skincare manufacturers grew 15.5% within the quarter, whereas the premium La Prairie model – which makes a big a part of its gross sales in journey retail like airport shops – stemmed its decline, though gross sales have been nonetheless down 17%.
Gross sales of the Tesa adhesives unit rose 6.2%, helped by a rebound within the electronics enterprise in Asia, even because the automotive sector continued to say no.
For the full-year, Beiersdorf mentioned it anticipated a fall in gross sales on the charge already seen to date this 12 months, or barely higher, whereas the working revenue margin ought to are available considerably beneath the extent seen in 2019.
($1 = 0.8461 euros)
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