BERLIN – Beiersdorf’s net profits dropped 33 percent in 2009 on-year to 379 million euros, or $526.8 million, according to preliminary figures from the Hamburg-based cosmetics giant.
The company reported sales of 5.75 billion euros, or $7.99 billion, down 3.7 percent in the period. Dollar figures are converted at average exchange rates.
Beiersdorf’s consumer unit, including brands such as Nivea, Eucerin and La Prairie, registered revenues of 5.01 billion euros, or $7 billion, down 2.2 percent. Sales from the company’s Tesa adhesives unit declined 12.8 percent to 737 million euros, or $1.02 billion, reflecting weak market conditions.
“Beiersdorf will again grow faster than the market in 2010,” stated Beiersdorf chief executive officer Thomas-B. Quaas.
For complete coverage, see Wednesday’s WWD.