Beiersdorf 4Q Sales Rose; Backs 2019 Guidance

Datum : 16/01/2020 @ 08h19
Quelle : Dow Jones News
Name : Beiersdorf AG (BEI)
Kurs : 91.56  -3.98 (-4.17%) @ 17h35
Beiersdorf share price Chart

Beiersdorf 4Q Sales Rose; Backs 2019 Guidance

Beiersdorf (XE:BEI)
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3 Monate : Von Dez 2019 bis Mär 2020

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   By Giulia Petroni 
 

Beiersdorf AG (BEI.XE) said Thursday that fourth-quarter sales rose on an organic basis, and confirmed its 2019 guidance.

The maker of Nivea skin cream said sales for the period were 7.65 billion euros ($8.52 billion) compared with EUR7.23 billion in the previous-year period.

Sales in the company's consumer business rose 4.8% organically to EUR6.27 billion from the year earlier. Sales in its adhesives division increased 0.8% on an organic basis to EUR1.37 billion in spite of a challenging market environment especially for the automotive business, the company said.

"Even though we expect headwinds in the 2020 financial year, we see good potential and opportunities which we will fully leverage with further investments," Stefan De Loecker, chairman of the executive board, said.

Beiersdorf backed its guidance for 2019, saying it targets an earnings before interest and taxes margin from ongoing operations of around 14.5%.

The company is scheduled to release its official 2019 results on March 3.

 

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

 

(END) Dow Jones Newswires

January 16, 2020 02:04 ET (07:04 GMT)

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