Beiersdorf AG has posted record provisional results for 2008 despite the economic downturn with skin and beauty care products singled out by the company as the "exclusive" basis for its positive performance.
Thomas Quaas, company chairman, said the three major brands – Nivea, Eucerin and La Prairie – had achieved double-digit growth on a worldwide basis, outpacing market averages. Group sales last year rose 8.4% to €5.9bn with care products accounting for €5.1bn of the group total. Profits went up from €442m to €443m, helped by some sell-offs of parts of the business. Pre-tax (Ebit) earnings rose slightly from €684m to €695m and profit margin improved from 12.4% to 12.5%.
Earlier, Beiersdorf commented that the relative narrowness of its portfolio of ten leading products had actually been an advantage because these were "easier to sustain than say 100 as is the case with some of our competitors". Beiersdorf has confirmed its medium-term forecast with an operating margin rising to 15% and world market share of about 5.5%. Final figures from the company will be published in March.