PARIS — German consumer goods company Beiersdorf AG’s 2021 organic sales rose 9.7 percent to 7.63 billion euros, outpacing pre-pandemic levels of 2019.
In reported terms, the Hamburg, Germany-based maker of Nivea products’ sales increased 8.6 percent, spurred by its Tesa, La Prairie and Derma businesses.
Implied organic sales growth within the fourth quarter was around 2.6 percent, in keeping with Bernstein.
“Beiersdorf seems to have had an OK end of the yr in organic growth…in step with consensus, but corporations reporting till now had material beats on organic growth,” wrote Bernstein analyst Bruno Monteyne in a note Tuesday.
For the yr, Beiersdorf’s consolidated EBIT margin was up 10 basis points to 13 percent.
The corporate’s Tesa Business Segment, producer of adhesives, posted organic growth...
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