Germany · Delayed Price · Currency is EUR Beiersdorf Aktiengesellschaft Earnings Call Transcripts
Fiscal Year 2026
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Group sales declined 3.5% organically in H1 2026, with NIVEA sales down 6.8% and Derma up 7.8%. An 18-month turnaround plan for NIVEA is underway, while La Prairie and tesa showed improving trends. Full-year guidance was lowered, with margins expected to recover from 2027.
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The AGM highlighted solid financial results amid a challenging market, with strategic focus on NIVEA's repositioning, innovation, and expansion in key markets. Shareholders approved all proposals, including a EUR 1 dividend and share buyback, while management addressed concerns on growth, acquisitions, and remuneration.
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Q1 2026 saw a 4.6% organic net sales decline, with Derma delivering strong growth and Nivea and La Prairie facing headwinds. Early signs of improved sell-out and ongoing strategic rebalancing support a cautiously optimistic outlook for the year.
Fiscal Year 2025
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Despite a challenging year marked by market slowdowns and cost pressures, the group delivered modest sales and profit growth, driven by strong Derma performance and innovation. Strategic repositioning of NIVEA and continued investment in R&D and shareholder returns are key priorities.
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Group organic sales grew 1.7% in Q3, led by double-digit derma growth, while NIVEA faced mass market headwinds but saw strong September momentum from new launches. Full-year guidance was adjusted to 2.5% organic growth, with EBIT margin improvement expected.
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Group organic sales grew 2.1% in H1 2025, with strong Derma and Healthcare segments offsetting NIVEA's softness. Major innovation launches, especially EPICELLINE, are set to drive a stronger H2, though full-year Consumer growth guidance was lowered to 3%-4%.
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Group organic sales grew 3.6% in Q1 2025, with strong Derma and Tesa performance offsetting China and travel retail headwinds. Guidance for 4%-6% organic growth and higher EBIT margin is maintained, with growth expected to accelerate in H2 as innovation launches and China repositioning effects fade.
Fiscal Year 2024
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Record sales and profit growth were driven by strong innovation, especially in Nivea and derma brands, with robust expansion in emerging markets and digital channels. 2025 guidance anticipates continued growth despite macroeconomic and geopolitical headwinds.
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Group organic sales grew 6.5% in the first nine months, led by strong Nivea and Derma performance, while La Prairie faced headwinds in China. Full-year guidance is confirmed, with optimism for Q4 and 2025 driven by innovation and balanced growth.
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Delivered 7.1% organic sales growth in H1 2024, led by NIVEA and Derma, with strong gains in emerging markets and e-commerce. Confirmed 6%-8% full-year growth guidance, despite luxury and sun care headwinds, and launched major innovations like Eucerin Epicelline.