Higher Group sales in the first quarter of 2024
The Beiersdorf AG recently announced a good start to the 2024 financial year. According to its press release, the Hamburg-based group generated sales of EUR 2.6 billion in the first quarter. This corresponds to an organic Growth by 7.3 per cent compared to the first quarter of 2023.
Beiersdorf is forecasting sales of € 2.2 billion for the Consumer Business Segment in the first quarter of 2024. In this area, sales increased organically by around 10 per cent. The organic growth was achieved within the entire Consumer brand portfolio, as the Group points out in its press release.
By contrast, Beiersdorf recorded an organic decline in sales of 5.4 per cent to 397 billion euros for its Tesa division.
Strong growth of the Nivea brand
Nivea grew particularly strongly in the first quarter of 2024, by 12.6 per cent (including Labello).
Vincent Warnery, CEO of Beiersdorf, commented: „Beiersdorf has made an excellent start to 2024. All our key consumer brands grew in the first quarter. NIVEA led our portfolio with strong double-digit growth and sales increases in all regions, especially in Europe and the emerging markets.“
According to Warnery, Nivea's sales in the first quarter were also the highest ever achieved. This underlines the brand's continuing global popularity, he added.
Forecast 2024: 6-8 per cent sales growth expected
As the Chairman of the Executive Board went on to explain, the success in the first quarter reinforces the company's goal of profitable growth. Beiersdorf is therefore raising its sales forecast for the year as a whole.
According to the press release, Beiersdorf anticipates organic growth of 6-8 per cent for the Group in 2024. The company plans for the EBIT margin (excluding special items) to be 50 basis points higher than the previous year's margin.