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Home Industry News Beiersdorf discusses financial forecasts

Beiersdorf discusses financial forecasts

5th May 2009

Beiersdorf is preparing for further effects of the economic downturn on its business, it has stated.

At current exchange rates, sales of the group in the first quarter of 2009 fell by 5.6 per cent, compared to the same period last year, to 1,438 million euros (1,281 million pounds).

Thomas-B Quass, chairman of the executive board of Beiersdorf, noted sales were on a similar level to last years, despite a challenging environment.

He asserted there was a huge destocking from retailers during the first quarter and the company has now brought in flexible measures to protect its earnings.

“In global terms, the consumer business segment held its own well and we will persist in principle with our strategy and goals,” Mr Quass explained.

“However, the cosmetics markets offer a mixed picture and remain difficult to assess, even following a thorough market analysis of the first quarter.”

Based on current performance and taking the global economic downturn into consideration, the firm expects earnings before interest and tax for the full-year to be lower than in 2008.

Nivea, Labello, Elastoplast and Florena are all Beiersdorf brands.

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