BERLIN – Beiersdorf AG reported first-quarter net profits were 122 million euros, or $169 million, up 22 percent versus the same prior-year period.
Earnings before interest and taxes for the Hamburg-based cosmetics and adhesives company rose 28.3 percent to 186 million euros, or $257.7 million.
Group sales gained 6.9 percent to 1.54 billion euros, or $2.13 billion. The company’s consumer division, which includes brands Nivea, Eucerin and La Prairie, registered revenues growth of 4.8 percent to 1.33 billion euros, or $1.82 billion.
Dollar figures are converted at average exchange rates for the three-month period ended March 31.
“In the first quarter of 2010, we showed that we are back on a growth path,” stated Beiersdorf chief executive officer Thomas-B. Quaas. “Our development has yet to quite match our ambitious growth expectations, but we are on the right track.”