Most Recent Articles In Financial
Latest Financial Articles
- Wall Street Warming Up to Victoria’s Secret Changes
- PVH Sales Increase With Help From Calvin Klein
- Herrero Sets Guess Apart From Department Stores
More Articles By
BERLIN — Hamburg-based Beiersdorf AG said second-quarter net profits rose 7.3 percent to 132 million euros, or $172.3 million.
Sales for the three months ended June 30 were up 3.7 percent to 1.59 billion euros, or $2.08 billion, while operating results (EBIT) came in at 219 million euros, or $285.9 million, a gain of 14.7 percent.
Beiersdorf’s consumer business, which includes the Nivea, Eucerin and La Prairie brands, posted a 3 percent rise in sales in the second quarter to 1.32 billion euros, or $1.72 billion. The unit’s EBIT, excluding special factors, came in at 173 million euros, or $225.9 million, up 6.1 percent.
In the first six months of 2013, Beiersdorf’s net profits advanced 15.7 percent to 287 million euros, or $379.9 million. Company EBIT rose 15.8 percent to 434 million euros, or $569.9 million. Sales for the January-to-June period registered an uptick of 3.3 percent to 3.16 billion euros, or $4.15 billion.
All dollar figures are converted from the euro at average exchange rates for the period to which they refer.
The company singled out growth in emerging markets as the key to its sales increase, and noted that all of its major brands performed well. Sales of Nivea were up by 6.8 percent, Eucerin by 12 percent, and La Prairie by 5.3 percent.
“We are becoming increasingly better at translating the potential of our brands and our company into economic success,” Stefan F. Heidenreich, chief executive officer of Beiersdorf AG, said in a statement.
Sales in the first half for Beiersdorf’s consumer business segment grew 3.1 percent to 2.64 billion euros, or $3.47 billion, while the division’s EBIT increased to 351 million euros, or $460.9 million, up 7.3 percent on-year.
European sales for the unit slumped 0.8 percent in the six-month period, due to declines in both Western and Eastern Europe (down 2.3 and 1.3 percent, respectively.) Beiersdorf’s home territory, Germany, performed solidly, with sales rising 2.7 percent.
Growth for the company’s consumer unit continues in the Americas, where sales increased by 13.8 percent. Latin America, and especially Brazil, drove growth, with the region turning in a sales uptick of 19.9 percent. In North America, sales rose 4.3 percent on-year. The Africa, Asia, Australia region also excelled, with sales jumping 19 percent.
Beiersdorf said it anticipates group sales growth of 5 to 6 percent for fiscal year 2013, with a consolidated EBIT margin of 12 to 13 percent.