Beiersdorf grows thanks to nivea – momentum at tesa declines

Beiersdorf grows thanks to nivea - momentum at tesa declines

However, momentum slowed overall due to lower growth at the adhesives affiliate tesa, particularly with customers from the automotive sector in north america.

In the first nine months of this year, sales at beiersdorf rose by 6 percent year-on-year to 5.7 billion euros, as the company announced in hamburg. Adjusted for the effects of currency translation, acquisitions and divestments, the company grew by 4.3 percent.

Beiersdorf has lowered its sales forecast for the tesa division for 2019 and now only expects growth of 1 to 2 percent, compared with the previously announced 3 to 4 percent.

The cosmetics business, on the other hand, grew by 5.1 percent on an adjusted basis. The strongest growth was recorded by the luxury brand la prairie. The purchase of the coppertone sunscreen brand from bayer, completed in september, has not yet had any effect on sales, according to the company’s statements. Beiersdorf reaffirms its annual forecast. This year, revenue growth is expected to be around 3 to 5 percent, excluding the effects of acquisitions and disposals.

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