Beiersdorf sales up but net profits way down
German consumer products and cosmetics group Beiersdorf AG, which makes the Nivea range, has reported a 34% drop in net profits in 2007 to €442m, slightly better than analysts' forecasts of net earnings of around €422m. Preliminary figures show sales last year rose by 9.1% to €5.1bn with operating profits of about €683m. Post-tax earnings rose from €387m to around €488m, giving a net profit margin of some 8.9%. Beiersdorf's consumer business division sales increased by 9.3% to €4.6bn. The company benefited last year from a one-off gain of €360m from the sale of its share in a medical equipment joint-venture.
German consumer products and cosmetics group Beiersdorf AG, which makes the Nivea range, has reported a 34% drop in net profits in 2007 to €442m, slightly better than analysts' forecasts of net earnings of around €422m. Preliminary figures show sales last year rose by 9.1% to €5.1bn with operating profits of about €683m. Post-tax earnings rose from €387m to around €488m, giving a net profit margin of some 8.9%. Beiersdorf's consumer business division sales increased by 9.3% to €4.6bn. The company benefited last year from a one-off gain of €360m from the sale of its share in a medical equipment joint-venture.
Company ceo, Thomas Quaas said the figures showed the company was growing successfully. He added that "it proves that it is strategically right to position Beiersdorf worldwide as a company for skin and beauty care".