HAMBURG, Germany — In a release of preliminary figures for 2002, Beiersdorf announced a 7.2 percent gain in Cosmed division sales.
This story first appeared in the January 17, 2003 issue of WWD. Subscribe Today.
Beiersdorf’s beauty division achieved sales of $3.35 billion. At constant exchange rates, that would represent growth of 0.3 percent, the company said. The brand Nivea alone generated sales of more than $2.75 billion. All dollar figures are calculated from the euro at current exchange rates.
The Cosmed division’s earnings before interest and taxes return on sales reached about 13 percent.
The Beiersdorf Group, which further includes a medical and Tesa (adhesives) division, achieved sales of $5.02 billion, “in line with previous projections.” Operating results (EBIT) reached a record level of $497.7 million, and profits after tax rose to about $303.9 million.
For 2003, Beiersdorf said in a difficult market environment, the group expects “sales growth of over 5 percent and further profit improvements.”
Final 2002 figures for the Cosmed division will be released at the annual Cosmed financial press conference on Feb. 5. Final group figures will be released April 2.