By Giulia Petroni

Beiersdorf upgraded its sales guidance for the full year after recording a strong performance in the first nine months.

The German personal-care company said Wednesday that it now expects organic sales growth to be low double-digit range. It had previously forecast growth in the high single-digit to low double-digit range.

Sales came in at 7.26 billion euros ($7.69 billion) in the period ended Sept. 30, up 7.8% on year. On an organic basis, sales grew 11.2%.

"Beiersdorf maintained significant growth momentum in the third quarter and thereby further accelerated the company's successful business performance with continued double-digit sales growth in the first nine months of 2023," the company said.

Beiersdorf reported organic sales growth of 13.6% in the consumer segment, driven by Nivea and derma brands Eucerin and Aquaphor. The tesa segment saw organic growth of 1.3% on year, but faced a challenging market environment.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

October 25, 2023 01:48 ET (05:48 GMT)

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