Beiersdorf: raises sales growth forecast, but shares fall
(CercleFinance.com) - Nivea skin cream maker Beiersdorf raised its sales outlook for 2018 after it reported a "strong" first-half performance as further gains in market share boosted its business.
Group EBIT climbed by 4.3% to 585 million euros in the first six months of the year, on sales that were up 2.8% in nominal terms, at 3.6 billion euros.
Sales over the first six months of 2018 were up 7.7% in organic terms, the German group said.
"Second-quarter organic sales at +8.9% is impressive but margin quality is low and guidance implies a slower second-half," UBS commented.
The skin-care company lifted its full-year sales growth target to around 5%, and maintained its earnings forecast.
Beiersdorf shares, which are listed on the XETRA market, are currently down 0.3% at 100 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Group EBIT climbed by 4.3% to 585 million euros in the first six months of the year, on sales that were up 2.8% in nominal terms, at 3.6 billion euros.
Sales over the first six months of 2018 were up 7.7% in organic terms, the German group said.
"Second-quarter organic sales at +8.9% is impressive but margin quality is low and guidance implies a slower second-half," UBS commented.
The skin-care company lifted its full-year sales growth target to around 5%, and maintained its earnings forecast.
Beiersdorf shares, which are listed on the XETRA market, are currently down 0.3% at 100 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.