THE WHAT? Beiersdorf has reported its results for the first quarter of fiscal 2021. The German manufacturer of Nivea saw organic sales grow 6.3 percent, beating expectations, courtesy of an impressive 23.6 percent sales growth of its tesa business unit.
THE DETAILS Organic sales in the Consumer business division grew 2.7 percent year-on-year, totalling €1,548 million.
The Hamburg-based firm said that, while the pandemic continues to make a reliable full-year forecast difficult, it anticipates positive sales growth for the year in both business segments and at group level.
THE WHY? Beiersdorf said that growth in the tesa business was spearheaded by strong demand in its industrial business (electronics and automotive), while in the Consumer segment, growth was driven by an above-market performance of the skin care business.