Beiersdorf Q1 sales top €2.6 billion as Nivea drives growth

By Alessandro Carrara | Published: 18-Apr-2024

Beiersdorf’s derm brands Eucerin and Aquaphor also reported double digit growth during the quarter

Beiersdorf has seen a strong start to 2024 after reporting bumper sales in Q1.

The brand owner’s sales increased by 7.3% to €2.6bn, driven by growth from its Consumer Business segment.

A standout performance from Nivea was highlighted, which saw sales increase by 12.6% year-on-year in the first quarter.

Beiersdorf said the skin care brand benefited from a mix of pricing balances and volume growth during the quarter.

Strong consumer demand for Nivea’s sun care, deodorant and face care categories, as well as its Luminous product range, also contributed to the boost in sales.

“The strong double-digit growth at Nivea drove our portfolio here with sales increases everywhere, especially in Europe and the Emerging Markets,” said Vincent Warnery, CEO of Beiersdorf.

“Nivea also achieved its best quarter ever in terms of absolute value in Q1. This underlines the enduring global popularity of our icon.”

Beiersdorf’s derm brands Eucerin and Aquaphor also reported double digit growth of 10.2% during the quarter.

Eucerin’s sun care business performed particularly well in Europe, and also benefited from its entry into the face care market in the US.

La Prairie returned to growth in Q1, with sales up 1%, as the French skin care brand continues to recover from lingering “external market challenges” from the previous year.

The brand’s organic sales decreased by 15.4% in 2023, as a result of difficult travel retail and mainland China markets.

Beiersdorf anticipates sales to further improve in the second half of the year.

“At the same time, our Derma business contributed solid double-digit growth, and the luxury business is on its way toward the expected full turnaround after a challenging year 2023.

“This performance level in the first quarter is reinforcing our continued aspiration of profitable growth, and we are therefore raising our sales guidance for the full year.”

The positive Q1 has led Beiersdorf to raise its full year guidance for 2024, and expects organic sales growth between 6 to 8%.



You may also like