Beiersdorf’s H1 2023: Heightened Profitability and Sales Uptick

Beiersdorf’s H1 2023: Heightened Profitability and Sales Uptick

The What: Beiersdorf’s sales rose to €4.9 billion in H1 2023, marking a 12.3% organic increase. The EBIT margin, excluding unique factors, was 17.3%. NIVEA, Derma, and Healthcare contributed to this growth with increases of 18.4%, 26.1%, and 5.4%, respectively. Conversely, La Prairie sales declined by 9.9%.

The Details: CEO Vincent Warnery reported increased profitability and growth, with the Consumer Business Segment outperforming market growth. However, the luxury business showed weaker performance. The company has raised its sales forecast for  

The Why: The Consumer Business Segment experienced % organic sales growth of 14.9% in H1 2023. La Prairie saw a 9.9% sales decrease due to disruption in Asian travel retail markets. Beiersdorf anticipates organic sales growth in the high single-digit to the low double-digit range and a slightly higher consolidated EBIT margin from ongoing operations than the previous year.