Beiersdorf is ‘on the right track’
Group says development has not quite met expectations, but it is confident of outperforming market in the near future
The Beiersdorf Group recorded sales of €1.537bn in the first quarter of 2010, an increase of 6.9% on the previous year, or 6% in organic sales. Growth in Beiersdorf’s consumer segment was 4% on sales of €1.328bn, while the group’s tesa tear tape business generated sales of €209m.
But there is still some way to go before the company achieves desired levels of growth, according to ceo Thomas B Quaas. “In the first quarter of 2010, we showed that we are back on a growth path. Our development has yet to match our ambitious growth expectations, but we are on the right track,” Quaas commented. “Beiersdorf’s growth will outperform the market in the coming years. In order to leverage our growth potential even more effectively, we are focusing more strongly on our core competencies while at the same time increasing our regional flexibility in Europe, Asia and the Americas in particular.”
The Hamburg-based company reported a 1.5% increase in organic sales domestically. Growth in the rest of Europe was less than stellar, however, with organic sales in western Europe up just 1% on the prior year period and down 2.7% in eastern Europe. But extensive investments in the North American market were reflected in organic sales growth of 22.3% and with the exception of Australia, Beiersdorf’s other global businesses reported strong growth figures.