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Beiersdorf Net Flat in Q1

The cosmetics and adhesive maker’s revenues gained 10.1 percent.

BERLIN — Beiersdorf AG’s first-quarter net profits were flat at 125 million euros, or $163.8 million, the company announced today.

Adjusted for special factors, net income at the Hamburg, Germany-based cosmetics and adhesive maker gained 7.1 percent to 135 million euros, or $176.9 million.

Group operating profits, excluding special factors, were up 18.6 percent to 198 million euros, or $259.5 million, while the earnings before interest and taxes (EBIT) margin rose to 12.9 percent from 11.8 in the same prior-year period.

Beiersdorf’s consumer division, which includes the Nivea, Eucerin and La Prairie brands, registered first-quarter sales growth of 9 percent to 1.28 billion euros, or $1.68 billion. On an organic basis, revenues increased 6.8 percent. The division’s operating profits excluding special factors spiked 18.8 percent to 164 million euros, or $214.9 million. Its EBIT margin was 12.8 percent, compared with 11.7 percent in first-quarter 2011. 

Global sales of the Nivea brand rose 10.1 percent, led by Nivea Deo, Nivea Sun and Nivea Body, while Eucerin’s revenues grew 7.8 percent. Luxury label La Prairie posted a 1.2 percent sales dip.  

Dollar figures are converted at average exchange for the three-month period ended March 31.

Top markets for Beiersdorf’s consumer division included Latin America, with a sales uptick of 16 percent, primarily due to growth in Brazil. The zone including Africa, Asia and Australia recorded a revenue increase of 12.7 percent, while closer to home — in Eastern Europe — sales rose 10.3 percent, driven by Russia and Poland. In Germany, revenues gained 6 percent, while in Europe, they rose 4 percent.

Sales at Beiersdorf’s Tesa adhesive division increased 9.2 percent to 256 million euros, or $335.5 million. In organic terms, the revenues rose 7.2 percent. Tesa’s first-quarter EBIT was up 17.2 percent to 34 million euros, or $44.6 million.

Beiersdorf confirmed its 2012 outlook for improved sales, anticipating an EBIT margin of 11 percent to 12 percent both for the group and for its consumer division.

 

Beiersdorf stock closed Thursday up .30 percent to 53.16 euros, or $70.10 on Xetra, the electronic trading platform of the Deutsche Boerse Group.