German personal care products maker Beiersdorf AG (BDRFF.PK,BDRFY.PK) Tuesday reported a higher profit for full year 2012, as all of its core brands including NIVEA, Eucerin, and La Prairie, saw strong organic growth. NIVEA achieved growth of 6.4 percent worldwide. Looking ahead to full-year 2013, the firm sees further increase in sales and earnings.
Stefan Heidenreich, CEO of the company said, "We will systematically continue the path set out in the Blue Agenda, our strategic compass. The focus remains on strengthening our brands - first and foremost NIVEA - developing innovative products, and extending our presence in emerging markets."
For the full year, the company posted profit of 451 million euros, up from 259 million euros in the previous year. Adjusted earnings were 2.07 euro per share, compared to 1.87 euro per share in the prior year.
Operating result, or EBIT increased to 698 million euros from 431 million euros a year ago. EBIT, excluding special factors, totaled 735 million euros, compared to 646 million euros last year.
EBIT margin improved to 11.6 percent from 7.7 percent in the preceding year. Adjusted EBIT margin was 12.2 percent, while the company posted 11.5 percent last year.
Special factors in the year totaled 37 million euros, as against 215 million euros in the previous year, mainly related to non-recurring costs from realignment of corporate structures and processes in the Consumer Business segment.
Beiersdorf's Group sales grew 7.2 percent to 6.04 billion euros. Organic sales growth was 4.7 percent. Sales in Consumer Business segment rose 4.9 percent organically and tesa business segment achieved organic sales growth of 3.6 percent.
For fiscal year 2013, Beiersdorf sees sales growth in excess of the market and a further improvement in EBIT margin.
The company added that as in the previous year, it will propose a dividend of 0.70 euros per share.
Beiersdorf shares are currently trading at 68.82 euros, up 2.01 euros or 3.01 percent on Frankfurt's Xetra.
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by RTT Staff Writer
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