Headline: Beiersdorf Achieves 6.5% Sales Growth Despite Economic Slowdown in China

Beiersdorf, the company behind the Nivea brand, reported a 6.5% organic increase in group sales for the first nine months of 2024, reaching €7.55 billion, up from €7.26 billion during the same period last year. This growth was attributed to strong performance in North America and an increase in the skincare segment.

Despite the overall positive trend, CEO Vincent Warnery highlighted ongoing challenges in the Chinese luxury market that are affecting the company's high-end brand La Prairie. La Prairie experienced a 7.3% decline in organic sales due to the persistent slump in the China region and its adverse effects on travel retail.

The broader consumer segment, which includes core brands, demonstrated more resilience with a 7.3% increase in sales to €6.3 billion for the first nine months of 2024. This success was driven by significant growth of the Eucerin and Aquaphor skincare brands in North America and strong sales of Nivea in emerging markets, particularly in the third quarter.

Beiersdorf remains optimistic, forecasting 6-8% organic sales growth for the full year 2024. The company also expects its earnings before interest and taxes (EBIT) margin, excluding special factors, to slightly exceed the level achieved last year. The current exchange rate used by the company is $1 = €0.9267.