Beiersdorf increases 2016 profit guidance based on nine-month performance

Beiersdorf has announced its financial results for the first nine months of 2016, during which it achieved a strong performance despite challenging market conditions.

The company's sales total of the first three quarters of the year came to 5.032 billion euros (4.48 billion pounds), down by 0.1 percent in nominal terms but representing a 2.9 percent year-on-year increase on an organic basis.

Its consumer division accounted for the majority of its sales, with strong momentum in Europe, the Americas, Africa, Asia and Australia helping the company to increase its market share.

Brands such as Nivea, Eucerin and La Prairie all saw year-on-year growth, allowing the firm to confirm its overall sales growth target of three to four percent expansion for the year as a whole.

Thanks to the strength of its global business, Beiersdorf has also raised its profit guidance for the full year, with its earnings before interest and tax margin for 2016 now expected to significantly exceed the prior-year figure.

Stefan Heidenreich, chief executive officer of Beiersdorf, said: "Intensified competition and declining growth in many markets have dominated the market environment over recent months. The growth rates achieved by Beiersdorf under these conditions are proof of our competitiveness and the strength of our business model."

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