Beiersdorf: expects slower sales growth in 2020
(CercleFinance.com) - Germany's Beiersdorf, the owner of the Nivea skin cream brand, said that it expects its sales growth to slow or stagnate in 2020, due to "stronger headwinds.
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On Tuesday the Hamburg-based group forecast that the sales growth of its consumer business segment would be between 3% and 5% this year, compared to 4.8% in 2019.
Any potential impact from the coronavirus epidemic is not quantifiable yet and is not reflected in the outlook, Beiersdorf warned.
Last year the company reported 4.1% organic sales growth, while in nominal terms its sales rose by 5.8% to 7.65 billion euros.
At the group level, underlying EBIT declined from 1.11 billion euros in 2018 to 1.10 billion euros in 2019, due to additional strategic investments.
Beiersdorf shares inched up 0.3% on Tuesday morning, significantly underperforming the German blue-chip index, which was up 2.5%.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
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On Tuesday the Hamburg-based group forecast that the sales growth of its consumer business segment would be between 3% and 5% this year, compared to 4.8% in 2019.
Any potential impact from the coronavirus epidemic is not quantifiable yet and is not reflected in the outlook, Beiersdorf warned.
Last year the company reported 4.1% organic sales growth, while in nominal terms its sales rose by 5.8% to 7.65 billion euros.
At the group level, underlying EBIT declined from 1.11 billion euros in 2018 to 1.10 billion euros in 2019, due to additional strategic investments.
Beiersdorf shares inched up 0.3% on Tuesday morning, significantly underperforming the German blue-chip index, which was up 2.5%.
Copyright (c) 2020 CercleFinance.com. All rights reserved.