Beiersdorf raises 2023 sales outlook

Nivea bottles are seen on a production line at the plant of German personal care company Beiersdorf in Hamburg·Reuters
Reuters
1-min read
In this article:

(Reuters) - Nivea maker Beiersdorf raised its full-year sales guidance on Wednesday, as it reported a 12.2% hike in preliminary organic group sales in the first quarter, driven by its consumer business unit.

The German company now expects organic sales growth in the mid- to high-single-digit range versus the mid-single-digit range growth it had forecast previously.

According to preliminary figures, organic group sales came in at 2.48 billion euros ($2.71 billion) in the first quarter, above the 2.22 billion it reported a year earlier.

Organic sales in the consumer business segment rose 14.8% year-on-year.

For the unit, the group now expects organic sales growth in the mid- to high-single-digit range as well, while it confirmed organic sales growth in a mid-single-digit range for its Tesa division.

It confirmed its earlier annual forecast for margin on core profit.

Beiersdorf is scheduled to publish its results for the first three months of 2023 on April 26.

($1 = 0.9142 euros)

(Reporting by Linda Pasquini, Editing by Friederike Heine)