BERLIN — Net profits at Beiersdorf AG fell 32.8 percent last year to 381 million euros, or $531.4 million.
This story first appeared in the March 5, 2010 issue of WWD. Subscribe Today.
The Hamburg, Germany-based cosmetics and adhesive maker’s earnings before interest and taxes decreased 26.3 percent in 2009 to 587 million euros, or $818.6 million. The EBIT margin was 10.2 percent.
Sales at the company slipped 3.7 percent to 5.75 billion euros, or $8.02 billion. On a like-for-like basis, revenues dipped 0.7 percent.
Dollar figures are converted at average exchange rates for the period.
Beiersdorf’s consumer division, which includes the Nivea, La Prairie and Eucerin businesses, registered sales of 5.01 billion euros, or $6.99 billion, down 2.2 percent on-year. The unit’s EBIT was 558 million euros, or $778.20 million, down 9.3 percent.
Beiersdorf’s Tesa adhesives unit’s revenues slid 12.2 percent to 737 million euros, or $1.03 billion. Its EBIT was 29 million euros, or $40.4 million, a 64.2 percent on-year decrease, and its EBIT margin was 3.9 percent.
“This year, Beiersdorf will grow faster than the market in both business segments,” stated Beiersdorf chief executive officer Thomas-B. Quaas. “We aim to improve EBIT margins at consumer and Tesa, and thus in the group, compared with 2009; the EBIT margin at consumer will exceed 11 percent.”
Beiersdorf stock closed up 0.4 percent Thursday to 45.45 euros, or $62.09 at current exchange.