German consumer goods maker Beiersdorf on Tuesday reported first-quarter group sales marginally ahead of market expectations, helped by its derma division.
The companyâs first-quarter sales rose 3.6 percent organically to â¬2.69 billion ($3.05 billion), compared to analystsâ expectations of â¬2.65 billion as per data compiled by LSEG.
Sales of Nivea, the companyâs flagship skin and body care brand, grew 2.5 percent organically, while sales of its derma division brands jumped 11.4 percent led by emerging markets and North America.
On the other hand, the company reported a 17.5 percent drop in sales of luxury brand La Prairie, due to a difficult market environment in China.
The company confirmed its guidance for 2025.
By Matthias Inverardi, Bernadette Hogg and Paolo Laudani; Editor: Varun H K
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Nivea Maker Beiersdorf Expects Skin Care Growth to Slow
The German cosmetics company, which also makes the pricey skincare and makeup lines La Prairie and Chantecaille, cut its growth forecast for the year ahead, citing softened demand.