BEI Beiersdorf AG

   By Kim Richters 
 

Beiersdorf AG said Tuesday that its adjusted profit for 2019 increased slightly, and it issued guidance for the current year.

The maker of Nivea skin cream saw an underlying aftertax profit of 795 million euros ($882.7 million) for the period, compared with EUR756 million a year earlier.

Underlying earnings before interest and taxes fell 0.5% to EUR1.11 billion, due to strategic investments that were part of the company's strategy CARE+ plan.

Sales for the year were EUR7.65 billion, up from EUR7.23 billion. Sales growth was 4.1% organic and 5.8% nominal.

The dividend for 2019 is proposed to be EUR0.70 per share, unchanged from the previous year, Beiersdorf said.

The company guided for an underlying EBIT margin of 14.5% for 2019, which it met. It expects this margin for 2020 to be on the same level.

Additionally, Beiersdorf expects organic sales growth for the group to be around 3%-5% and its underlying profit-after-tax margin to be on 2019 level. The outlook doesn't include any potential coronavirus effects yet.

"While the situation of the coronavirus remains dynamic, its impact on our business is not quantifiable yet," Beiersdorf Chief Executive Stefan De Loecker said.

"We therefore expect stronger headwinds in 2020."

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

March 03, 2020 02:26 ET (07:26 GMT)

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