By Pierre Bertrand

Beiersdorf AG said Wednesday that it achieved a substantial increase in organic first-quarter sales and raised its full-year sales guidance.

The German personal-care products maker, citing preliminary figures, said first-quarter organic sales increased by 12% to 2.48 billion euros ($2.72 billion), higher than market expectations.

Organic sales at its consumer business segment increased by nearly 15% on-year to EUR2.06 billion while its tesa business segment achieved organic sales growth of 0.9% to EUR425 million.

The company raised its organic sales growth expectation for 2023, saying that it now expects growth in the mid-to-high-single-digit range for both the group and the consumer business segment. It had previously guided for growth in the mid-single-digit range.

Beiersdorf said that it still expects mid-single-digit oraganic sales growth at its tesa business segment in 2023. The company's earnings before interest and taxes margin forecast remains is unchanged.

The company will publish its first quarter result on April 26.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

April 05, 2023 08:26 ET (12:26 GMT)

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