Beiersdorf: shares rise on confident outlook.
(CercleFinance.com) - Shares in Beiersdorf are up over 5% today, after the Nivea cream maker lifted its 2017 sales forecast, thanks to a strong performance in the third quarter.
The company now expects 4%-5% sales growth in 2017, with an EBIT margin from operations expected to slightly exceed its level last year.
In the third quarter, sales rose 4.9% in nominal terms, at 5.28 billion euros, with organic growth reaching 5.1%.
"The group's Blue & Beyond strategy is paying dividends with strength in sales growth for la prairie, Eucerin and Hansaplast," analysts at Liberum said.
The brokerage firm also highlighted "significant" gains in market share, particularly in Asia, with a strong pipeline of innovations for the rest of 2017.
Beiersdorf's shares are currently up 5.1% at 95.6 euros, by far the sharpest riser on the DAX index, which is up just 0.3%.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The company now expects 4%-5% sales growth in 2017, with an EBIT margin from operations expected to slightly exceed its level last year.
In the third quarter, sales rose 4.9% in nominal terms, at 5.28 billion euros, with organic growth reaching 5.1%.
"The group's Blue & Beyond strategy is paying dividends with strength in sales growth for la prairie, Eucerin and Hansaplast," analysts at Liberum said.
The brokerage firm also highlighted "significant" gains in market share, particularly in Asia, with a strong pipeline of innovations for the rest of 2017.
Beiersdorf's shares are currently up 5.1% at 95.6 euros, by far the sharpest riser on the DAX index, which is up just 0.3%.
Copyright (c) 2017 CercleFinance.com. All rights reserved.