Beiersdorf continues to increase its turnover. The German company, which counts flagship brands such as Nivea and Eucerin in its portfolio, saw its turnover rise to 7.4 billion euros in the third quarter of the year.
Despite market uncertainty, Beiersdorf maintained its growth in the months between July and August. The German group achieved organic sales growth of 11.2% and, in particular, the Consumer Business division achieved sales of 6 billion euros, generating an increase in sales of 13.6%.
Nivea leads the growth of the German group
In the press release, the company highlighted the strong performance of Nivea, Eucerin and Aquaphor. Of course, Nivea led the sales increase with a growth of almost 18%. In all regions, Nivea's branded products grew in double digits, especially one of its products in the face care category. Eucerin and Aquaphor, between them, saw sales increase by almost 25% in the first nine months of 2023. The company has pointed out that this increase in sales has been thanks to the global success of sun care and the reinforcement of its 'derma' portfolio in Latin America and e-commerce. As for its luxury brand, La Prairie, sales fell by 15.8% in the first nine months of the year. This decrease has been influenced by the decline in travel retail among Chinese and Korean consumers, although Beiersdorf indicates that it has seen growth in the local market in the rest of Asia, especially in the last three months.
Vincent Warnery, CEO of Beiersdorf, highlighted the company's favourable results despite the current market situation: "We have once again recorded exceptional double-digit growth in the first nine months of the year despite the challenging situation in the luxury market and economic volatility around the globe". Warnery also explained that this is due to the successful implementation of the digitisation and globalisation strategy of the portfolio brands and has raised the sales forecast for the full year, "this achievement reinforces our ambition for continued growth, which is why we are raising our sales forecast for the full year".
Last quarter, Beiersdorf also exceeded its growth expectations for the first half of the year. In September, the German group opened a new campus in a key German city and in the second quarter it also spent a total of nine million euros to expand production capacity at its Igualada site in Barcelona province.