THE WHAT? Beiersdorf has raised its sales guidance for 2023 after preliminary figures indicated that the manufacturer of Nivea achieved a substantial organic Group sales increase of 12.2 percent in the first quarter of the current financial year, above expectations.
THE DETAILS Organic sales in the Consumer business segment increased by 14.8 percent yoy hitting €2,057 million. The tesa segment reported more modest organic sales growth of 0.9 percent yoy for a total of €425 million.
THE WHY? As a result of the good business performance, Beiersdorf now expects organic sales growth in the mid- to high-single digit range for both the Group and the Consumer business segment this fiscal year.