1 196
Fashion Jobs
Mar 4, 2010
Download the article
Click here to print
Text size
aA+ aA-

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.

Copyright © 2023 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.