Sales down 3.7% at Beiersdorf
Operating profits at Beiersdorf AG fell 29% in 2009 to €585m while sales declined by 3.7% to €5.7bn. The downturn was explained largely by the poor results from the company's adhesives division (Tesa) rather than the successful cosmetics operations spearheaded by Nivea.
Operating profits at Beiersdorf AG fell 29% in 2009 to €585m while sales declined by 3.7% to €5.7bn. The downturn was explained largely by the poor results from the company's adhesives division (Tesa) rather than the successful cosmetics operations spearheaded by Nivea.
The new figures follow an optimistic forecast from Beiersdorf late last year in which a return to growth was expected this year both in sales and margin terms. However, provisional figures for 2009 published in November showed an estimate of operating earnings of €585m and sales of €5.7bn, indicating a high level of accuracy in the estimates.
Consumer sales for 2009, which include the Nivea operation, were estimated at just over €5bn while the ailing adhesives sector accounted for only €737m of sales. Operating profits for the consumer sector were put at €556m.
Final figures and a detailed company statement are expected in early February.