Mar 4, 2010
Beiersdorf cosmetics sales fade in 2009, future is brighter
Mar 4, 2010
FRANKFURT, March 4, 2010 (AFP) - Beiersdorf, the German maker of Nivea face cream, posted on Thursday 4 March a sharp drop in 2009 profit owing in part to the global economic crisis, but forecast better times ahead.
Nivea, a Beiersdorf brand
The group's net profit fell by 33 percent to 374 million euros (510 million dollars), while core profit was off by 15 percent at 587 million and sales were 3.7 percent lower at 5.75 billion euros.
Net profit in 2008 was boosted by the sale of assets, but "the economic crisis has changed the environment for the cosmetics industry worldwide," as well, Beiersdorf chairm Thomas Quaas said.
Nivea achieved organic growth of 1.3 worldwide last year, while the group's Eucerin brand of dermocosmetics posted growth of 6.5 percent, the statement said.
Quaas forecast that Beiersdorf would improve its core profit margins this year at both the cosmetics division and at its tesa adhesive films unit.
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