BERLIN — Beiersdorf AG’s net profits dropped 33 percent in 2009 to 379 million euros, or $526.8 million, according to preliminary figures from the Hamburg-based cosmetics giant.
This story first appeared in the January 14, 2010 issue of WWD. Subscribe Today.
The company’s earnings before interest and taxes slipped 26.6 percent to 585 million euros, or $813.2 million, in the period.
Sales at Beiersdorf were 5.75 billion euros, or $7.99 billion, down 3.7 percent. On a like-for-like basis, they were down slightly at 0.7 percent.
Dollar figures are converted at average exchange rates.
Beiersdorf’s consumer unit, which includes brands such as Nivea, Eucerin and La Prairie, registered revenues of 5.01 billion euros, or $7 billion, down 2.2 percent. The division’s business in China and Latin America generated double-digit sales gains, while Germany — Beiersdorf’s main market — had “a very successful year.” Meantime, Eastern Europe and the U.S. posted an increase in revenues, while Western European sales dipped, according to the firm. EBIT for the consumer unit was approximately 556 million euros, or $772.8 million.
Sales from Beiersdorf’s Tesa adhesives unit declined 12.8 percent to 737 million euros, or $1.02 billion, in response to weak market conditions.
“Beiersdorf will again grow faster than the market in 2010,” stated Beiersdorf chief executive officer Thomas-B. Quaas.