Beiersdorf has recorded a 12.2% sales boost to €2.5bn for Q1 2023, boosted by a strong performance from Nivea and price increases across its portfolio.
Nivea revenues were up 18% year-on-year, led by the sun care, lip care and deodorants categories sales.
Price hikes introduced in 2022 contributed to the uplift, in addition to strong sales volumes for the skin care brand.
The company’s Consumer Business Segment - which includes Hansaplast and Labello – generated overall sales of €2.1bn.
“Our efforts to transform Nivea are clearly paying off," said Vincent Warnery, CEO of Beiersdorf.
"Our brand icon grew in all regions and March was actually the best month in the history of the brand.”
La Prairie’s performance lagged during the quarter, however, with sales down 12% versus 2022.
Challenging market conditions in China caused by disruptive Covid policies significantly impacted the brand owner’s travel retail business, stated the German conglomerate.
Despite the economic challenges, Beiersdorf remains confident in the market's recovery and said retail sales in China have recovered significantly since February.
Its other skin care brands Eucerin and Aquaphor fared better in Q1, with a combined sales growth of 26.9%.
The US was the division's strongest market, but Latin America was highlighted as the duo's sun care businesses were also a significant growth driver in the region.
Both businesses also recorded strong sales growth in Europe.
“With strong, double-digit sales growth, Nivea in Europe and in the emerging markets, along with our successful Derma business, compensated for a difficult quarter at La Prairie – one that was negatively impacted by the effects of the [coronavirus] lockdown in China,” added Warney.
“That clearly shows that we’re like a four-wheel drive vehicle: if one wheel loses traction, the others will keep the vehicle moving forward.
“That gives us even greater stability and security in times shaped by volatility and crises.”
