BERLIN (Reuters) – Beiersdorf, maker of Nivea cream, said on Wednesday it expects organic sales growth to slow this year, after reporting double-digit growth for the first time in 20 years in 2022, thanks strong demand for its skin care products.
Beiersdorf shares fell 3.8% according to pre-market indications from Lang & Schwarz after the publication of results on Wednesday.
Beiersdorf anticipates organic growth in 2023 between 4 and 6% (“mid-single-digit range”).
The group improved its operating profit (Ebit) for 2022, excluding exceptional items, by 16.6% to 1.2 billion euros, reaching an Ebit margin of 13.2%. Beiersdorf expects this figure to be 50 basis points higher in 2023 than last year.
Sales of its FMCG division, which includes Nivea, Eucerin and La Prairie products, rose 8.8% to 6.13 billion euros last year. At its Tesa adhesives unit, which serves the electronics and automotive markets, sales rose 13.6% to 1.5 billion euros.
(Report Jan C. Schwartz, written by Miranda Murray, Augustin Turpin, edited by Kate Entringer)
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