Buoyed by strong sales in its consumer business segment, Beiersdorf AG reported aftertax profits that soared 26 percent last year.
The maker of Nivea and La Prairie skin care products said aftertax earnings for fiscal 2007 rose to 486 million euros, or $673 million, from 387 million euros, or about $490 million, in the prior year. Group sales leapt 9.1 percent to $5.51 billion euros, or $7.63 billion. Dollar figures are at the average exchange rate.
Operating earnings rose 14.6 percent to 684 million euros, or $948 million. Results exclude "special factors" such as expenses relating to the group's supply chain initiative and income from the sale of BSN medical.
The consumer brands business clocked a 9.3 percent sales gain for the year while the company's Tesa business rose 8.1 percent. The firm said its consumer business, which had 2007 sales of 4.66 billion euros, or $6.5 billion, gained "global market share."
"The three global brands — Nivea in the mass market, Eucerin for dermocosmetics, and La Prairie in the luxury segment — contributed to the positive business development with double-digit growth rates," the firm stated.
For 2008, sales in the consumer business are pegged to grow 8 percent.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"