Beiersdorf outperforms 2023 thanks to Nivea. The German company has presented its financial results for the 2023 financial year with record sales of €9.5 billion and an organic increase of almost 11%.
Much of this growth, as the German company points out in the press release, has been thanks to the impact of Nivea. Vicent Warnery, CEO of Beiersdorf, was pleased with the result: "In 2023 we were the fastest growing company in the beauty segment worldwide and delivered on our promise of renewable growth. Nivea has achieved impressive levels of growth in all regions and categories globally". Warnery also highlighted growth in Derma with its Eucerin and Aquaphor brands.
The company notes that the 'Consumer' business segment posted solid growth figures in the fiscal year 2023, with €7.8 billion in sales. The key to this growth, according to Beiersdorf, was the balance between volume and price.
Nivea, Beiersdorf's flagship product
The German group explained that this is Nivea's best moment. In 2023, sales of Nivea products exceeded 5 billion euros for the first time in its history. In all regions where Beiersdorf is present, they have recorded double-digit growth for the brand. The Facial Care category experienced the brand's strongest growth thanks to its Luminous range of products.
Eucerin and Aquaphor together experienced organic growth of 24% and nominal sales increased to 1.3 billion euros. The group attributes this growth to the sun care range, especially those containing Thiamidol, which has been a success in Latin America, the Middle East and Africa.
In contrast, Beiersdorf has faced an uncertain context in the luxury market in China which has slowed the growth of its selective channel brands La Prairie and Chantecaille. The situation in China led to a decline in organic sales for both brands in 2023, down 15.4% for La Prairie and 18.4% for Chantecaille.
Consolidating continued profitable growth
Beiersdorf expects 2024 to be the year in which continued sales growth is consolidated and estimates that the number of sales in 2024 will be higher than in the financial year 2023.