Beiersdorf off to a very strong start: NIVEA with outstanding first quarter in all regions

• Group: Sales increase to €2.5 billion (+12.2% in organic terms)
• Consumer Business Segment: Sales rise to €2.1 billion (+14.8% in organic terms)
• Strong, broad-based growth: NIVEA (incl. Labello) +18%, Derma +26.9%, La Prairie –12%, Healthcare +7.6%
• tesa Business Segment: Sales amount to €424 million (+0.9% in organic terms)
• Guidance for 2023: Organic sales growth in the mid-to-high single digits expected for the Group and the Consumer Business Segment

Hamburg, April 26, 2023 – Beiersdorf is continuing its successful path, starting the 2023 fiscal year with significant sales growth. Group sales amounted to €2.5 billion in the first quarter, representing organic growth of 12.2%. The Consumer Business Segment generated sales of €2.1 billion and strong organic sales growth of 14.8%. In addition to the consistently successful Derma business with the Eucerin and Aquaphor brands, NIVEA had an outstanding first quarter, particularly in Europe and in the Emerging Markets. The tesa Business Segment recorded organic growth of 0.9% year-on-year. tesa’s sales in the first quarter came to €424 million.

CEO Vincent Warnery: “Beiersdorf had an excellent first quarter. Our efforts to transform NIVEA are clearly paying off: Our brand icon grew in all regions and March was actually the best month in the history of the brand. With strong, double-digit sales growth, NIVEA in Europe and in the Emerging Markets, along with our successful Derma business, compensated for a difficult quarter at La Prairie – one that was negatively impacted by the effects of the Corona lockdown in China. That clearly shows that we’re like a four-wheel drive vehicle: If one wheel loses traction, the others will keep the vehicle moving forward. That gives us even greater stability and security in times shaped by volatility and crises.”

The core brand NIVEA – including Labello – grew organically by 18% year-on-year in the first quarter. Growth was led by the sun care, lip care, and deodorants categories. In addition, double-digit sales increases were also seen in face care. This growth was underpinned by price increases and a positive volume contribution for the entire portfolio. NIVEA recorded double-digit growth in all key markets.

The Derma brands Eucerin and Aquaphor performed extremely well with organic sales growth of 26.9%. Demand remains consistently high in the key US market. In Latin America, the sun care business was a significant growth driver in the first quarter. The Derma business also recorded strong sales growth in Europe, gaining market share in all categories.

La Prairie, Beiersdorf’s luxury brand, saw its sales fall by 12% in the first quarter. This was due to challenging market conditions in China caused by the changes in Covid policies, which significantly impacted the otherwise strong travel retail business. Retail sales in China have, however, recovered significantly since February, starting with sales in brick-and-mortar retail and recently also in travel retail.

The Healthcare business, which largely comprises the plaster business of Hansaplast and Elastoplast, posted organic sales growth of 7.6%. This growth, which was generated in all key markets, was due to the strong and consistent implementation of brand innovations, including sustainable plasters in the wound care business.

The tesa Business Segment recorded organic growth of 0.9% year-on-year. The business with the automotive industry delivered a particularly strong performance in all regions, achieving double-digit sales growth in the first quarter. Innovations enabled tesa to win new projects and thus further expand its business, especially with adhesive solutions for e-mobility applications. The electronics business in China, however, got off to a weak start due to lower demand for smartphones and tablets at the beginning of the year. Nevertheless, tesa remains optimistic that the market will pick up again significantly with the next generation of devices. All other business areas and regions performed well in the first quarter.

For full year 2023, Beiersdorf expects organic sales growth in the mid-to-high single digit range for the Consumer Business Segment. The Company aims to exceed the previous year’s EBIT margin (excluding special factors) by 50 basis points, corresponding to the medium-term target for profitable growth in the Consumer Business Segment.

For tesa, Beiersdorf anticipates sales growth in the mid-single digit range. Continuing investments in tesa’s strategic pillars – innovation, digital, and sustainability – will again affect the EBIT margin excluding special factors. The EBIT margin is therefore expected to be slightly below the previous year’s level.

Based on these forecasts for both business segments, the Group’s organic sales growth is expected to be in the mid-to-high single digit range. The Group’s EBIT margin (excluding special factors) is expected to slightly outperform the previous year’s level.