Nivea maker Beiersdorf AG (BDRFY.PK, BDRFF.PK) reported Thursday that its nine-month sales increased 4.9 percent to 5.281 billion euros from last year's 5.032 billion euros. On an organic basis, sales increased 5.1%.
Consumer sales grew 3.8 percent from last year to 4.34 billion euros. tesa recorded sales growth of 10.6 percent.
NIVEA sales rose by 3.7%.
Sales in Europe grew 3.1 percent from last year to 2.71 billion euros, Americas sales grew 5.7 percent to 955 million euros and Africa/Asia/Australia sales increased 7.8 percent to 1.61 billion euros.
Stefan Heidenreich, CEO of Beiersdorf, said, "Beiersdorf has further picked up the pace with strong sales growth in the first nine months of 2017. The Consumer Business Segment demonstrated its competitiveness with above-market sales growth, recording substantial sales increases in the third quarter. tesa regained its former strength achieving strong double-digit growth in the first nine months of 2017. Consequently we increased market shares and strengthened our global position."
Looking ahead, for fiscal 2017, Beiersdorf lifted its Group sales forecast as a result of the strong performance in the third quarter. The company now expects sales to grow by 4-5% in 2017. The Group earnings forecast remains unchanged. The EBIT margin from operations is expected to slightly exceed the prior-year figure.
Previously, the company expects Group sales growth of 3 percent to 4 percent.
Further, Beiersdorf now increased its sales forecast for the Consumer Business Segment in 2017 and expects sales growth to outperform the market at around 4%. The earnings forecast remains unchanged. The EBIT margin from operations is expected to be slightly up on the prior-year figure.
For the tesa Business Segment, Beiersdorf now expects sales growth of around 8%. EBIT margin from operations is now expected to be up slightly on the previous year.
Earlier, the company expected sales growth in the Consumer Business Segment to outperform the market at 3 to 4 percent, and sales growth at tesa of 4 to 5 percent.
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