Berlin, Aug. 3, (dpa/GNA) – Beiersdorf AG, the German manufacturer of Nivea products, said on Thursday that after-tax profit rose in the first half to €589 million ($643 million) from last year’s €505 million.
Earnings per share improved to €2.56 from €2.18 a year ago. Operating result or EBIT improved to €862 million from last year’s €697 million.
Adjusted EBIT significantly improved to €852 million from last year’s €710 million. This corresponds to an adjusted EBIT margin of 17.3%, up from previous year’s 15.9%. Group sales increased to €4.94 billion from last year’s €4.48 billion.
Organic sales growth was 12.3%, with strong, broad-based growth for Nivea, including Labello, at 18.4%, and Derma at 26.1%.
Looking ahead, Beiersdorf has slightly increased its sales forecast for 2023 as a whole, citing the positive sales trend and above-market growth in the first half of the year.
Organic sales growth is now expected in the high single-digit to low double-digit range for the group and consumer business segment. There is an opportunity to achieve growth at the upper end of this range, if the luxury market conditions improve, it said.
Previously, the company expected organic sales growth to be in the mid-to-high single digit range. The consolidated EBIT margin from ongoing operations is still expected to be slightly up on the previous year’s level.
GNA