3/5/2013

Beiersdorf on track – 2012 sales and earnings targets delivered

Visit the interactive version of the Annual Report 2012 here.

  • Group sales up 4.7% like for like
  • EBIT margin of 12.2%
  • 2013 Outlook: Beiersdorf to further increase sales and earnings

Hamburg, March 5, 2013 – The Beiersdorf Group delivered sustainable growth in 2012 and achieved its sales and EBIT targets. In organic terms, sales by the Company increased by 4.7%. In nominal terms, sales rose by 7.2%, from €5,633 million to €6,040 million. Sales in the Consumer Business Segment rose organically by 4.9%. tesa achieved organic sales growth of 3.6%. EBIT excluding special factors amounted to €735 million (previous year: €646 million). The EBIT margin excluding special factors amounted to 12.2% (previous year: 11.5%). 

“We are satisfied with our fiscal year 2012 performance. We have met our sales and earnings targets,” said Stefan F. Heidenreich, CEO of Beiersdorf AG, presenting the Company’s figures.

For 2013, Beiersdorf forecasts sales growth in excess of the market and a further improvement in the EBIT margin. “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,” Heidenreich continued.

Beiersdorf Group

Beiersdorf’s Group sales rose by a nominal 7.2% to €6,040 million (previous year: €5,633 million). In organic terms, sales rose by 4.7%. The operating result (EBIT) excluding special factors amounted to €735 million (previous year: €646 million), while the corresponding EBIT margin was 12.2% (previous year: 11.5%). Special factors of €-37 million (previous year: €-215 million) are mainly related to non-recurring costs from the realignment of corporate structures and processes in the Consumer Business Segment that Beiersdorf initiated in November 2011. Profit after tax excluding special factors rose to €477 million (previous year: €434 million). Earnings per share was €2.07 (previous year: €1.87). As in the previous year, a dividend of €0.70 per share will be proposed.

Consumer business segment

In nominal terms, sales by Beiersdorf’s Consumer Business Segment increased by 7.5% to €5,048 million (previous year: €4,696 million), while in organic terms, sales rose 4.9%. EBIT excluding special factors amounted to €606 million (previous year: €537 million), while the corresponding EBIT margin was 12.0% (previous year: 11.4%). The EBIT margin excluding special factors in the Consumer Business Segment was impacted by one-time expenses in China. These mainly comprised provisions relating to the relaunch of our Chinese hair care product lines. Without these expenses, it would have been 0.3 to 0.4 percentage points higher.

All core brands – NIVEA, Eucerin, and La Prairie – generated robust organic growth. NIVEA achieved growth of 6.4% worldwide. 

Sales in the Europe region increased slightly by 0.6%. Eastern Europe generated strong growth of 8.7%. As expected, sales in Western Europe were down on the previous year (-1.8%) due to the difficult macroeconomic conditions in a number of countries. Sales in Germany were almost on a level with the previous year (-0.6%). Business performance was influenced by a streamlining of the product portfolio as well as the insolvency of the Schlecker drugstore chain. EBIT excluding special factors in Europe amounted to €514 million (previous year: €495 million).

Sales in the Americas region rose by 12.6%. Latin America performed particularly well, with an increase in sales of 17.7% driven primarily by extremely good growth rates in Brazil. Sales in North America were up 2.7% on the previous year. EBIT excluding special factors in the Americas region amounted to €57 million (previous year: €55 million).

The Africa/Asia/Australia region recorded a 9.9% increase in sales. In line with planning, sales in China were on a level with the previous year. EBIT excluding special factors in this region climbed to €35 million (previous year: €-13 million), primarily as a result of the improvement in the Chinese business. 

The share of sales by the Consumer Business Segment accounted for by markets in Eastern Europe, Latin America, and Africa/Asia/Australia rose to 49% in 2012 (previous year: 46%).

tesa business segment

Sales by the tesa Business Segment were up versus prior year 3.6% organically and 5.8% nominally to €992 million (previous year: €937 million). EBIT rose to €129 million (previous year: €109 million), an EBIT margin of 13.0% (previous year: 11.6%) with both the consumer and industrial businesses in all regions making a strong contribution. The business in Asia and the United States was especially dynamic with the main growth drivers there once again being the automotive and electronics industries.

Outlook for Beiersdorf’s business performance in 2013

For fiscal year 2013, Beiersdorf Group forecasts sales growth in excess of the market and a further improvement in the EBIT margin. 

In the Consumer Business Segment, Beiersdorf is targeting sales growth to outperform the market in 2013. The EBIT margin from operations should exceed the prior-year level. 

tesa anticipates that sales growth will be slightly in excess of the market and that earnings will improve slightly. 

Beiersdorf has made additional videos and photos available in the online Annual Report 2012 – which has been optimized for display on mobile terminal devices: www.annualreport.beiersdorf.com/en.

The Beiersdorf Group in 2012 at a Glance

Group 2011
2012
Sales €5,633 million
€6,040 million
Sales growth in % (nominal)
1.1% 7.2%
Sales growth in % (organic/like-for-like)
2.1% 4.7%
Operating result (EBIT)
€431 million
€698 million
Operating result (EBIT), excluding special factors
€646 million
€735 million
EBIT margin
7.7% 11.6%
EBIT margin, excluding special factors
11.5% 12.2.%
Profit after tax
€259 million
€451 million
Profit after tax, excluding special factors
€434 million
€477 million
Return on sales after tax
4.6% 7.5%
Return on sales after tax, excluding special factors
7.7% 7.9%

Consumer

Sales €4,696 million
€5,048 million
Sales growth in % (nominal)
0.0% 7.5%
Sales growth in % (organic/like-for-like)
1.1% 4.9%
Operating result (EBIT)
€322 million
€569 million
Operating result (EBIT), excluding special factors
€537 million
€606 million
EBIT margin
6.9% 11.3%
EBIT margin, excluding special factors
11.4% 12.0%

tesa


Sales €937 million
€992 million
Sales growth in % (nominal)
7.3% 5.8%
Sales growth in % (organic/like-for-like)
7.9% 3.6%
Operating result (EBIT)
€109 million
€129 million
EBIT margin
11.6% 13.0%

Press Contact

Inken Hollmann-Peters
Vice President Corporate Communications & Sustainability

Beiersdorf AG
Unnastrasse 48
20245 Hamburg, Germany

Phone: +49 (0) 40 - 4909 2001

Email: cc@beiersdorf.com