Most Recent Articles In Financial
Latest Financial Articles
- January Retail Traffic Falls, But Transaction Values Stayed in the Green
- Retail Stocks Suffer Steep Declines on Profit Reports
- Fiera di Vicenza Considers IPO
More Articles By
BERLIN — Beiersdorf AG reported Tuesday a 30.6 percent drop in net profits to 100 million euros, or $131 million at average exchange, in the first quarter of 2009 versus first-quarter 2008.
This story first appeared in the May 6, 2009 issue of WWD. Subscribe Today.
The continuing economic crisis has had a notable impact on many of the Hamburg, Germany-based company’s divisions.
Beiersdorf’s total sales dipped 5.6 percent to 1.43 billion euros, or $1.87 billion.
The company’s consumer segment, which includes brands such as Nivea, Eucerin and La Prairie, posted operating profits down 16.8 percent to 144 million euros, or $188.6 million. The division’s like-for-like sales saw a 0.5 percent dip to 1.27 billion euros, or $1.66 billion.
Thomas-B. Quaas, chairman of Beiersdorf’s executive board, remains cautiously optimistic, stating, “In global terms, the consumer business segment held its own well, and we will persist in principle with our strategy and goals. However, the cosmetics markets offer a mixed picture and remain difficult to assess, even following a thorough market analysis of the first quarter.”
The company’s Tesa adhesives group has been particularly hard hit by crisis, which has caused its industrial consumers’ businesses, particularly in the automotive and electronics industries, to suffer. The Tesa segment saw a decline in organic sales of 23.8 percent to 171 million euros, or $224 million.