Nikea on a way to meet the financial targets

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The German maker of skin care products Beiersdorf recorded higher sales in the first nine months of the year. The company behind brands such as Nivea, Labello and Hansaplast expects to achieve its goals for the entire year.

The group achieved a turnover of more than 5.7 billion euros in the three quarters up to and including September, an increase of 6 percent compared to the same period last year. Favorable exchange rates also helped. Without that effect and the influence of acquisitions or divestments, revenues increased by 4.3 percent. Sales of personal care products grew faster than the tesa division, which makes adhesive tape and tapes for businesses, among other things.

At the beginning of this year, Beiersdorf announced that it would be investing tens of millions of euros extra for innovation and entering new markets. According to CEO Stefan De Loecker, the results indicate that this is bearing fruit. At the same time, the company still needs to do a lot of work to adapt to new market dynamics, he says.

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Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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