Beiersdorf experiences growth in first nine months of 2014

Beiersdorf has announced its financial results for the first nine months of 2014, during which it generated 4.72 billion euros (3.74 billion pounds) in sales.

This represented a year-on-year increase of 0.9 percent in nominal terms, or 4.3 percent when calculated on an organic basis. This improvement was achieved despite an economic downturn in many key markets.

Its resilience was attributed to the recent strengthening of core Beiersdorf brands and its focus on expanding its presence in emerging markets, as well as its investments in innovation. Both its consumer and tesa divisions contributed positively to growth.

Group sales for the year as a whole are expected to grow by between four and six percent based on current trends, with both key business units set to outperform the market as a whole.

Stefan Heidenreich, chief executive officer of Beiersdorf, said: "Our results for the first nine months show that Beiersdorf is well positioned and weatherproofed even for stormier periods. Our business strategy, the Blue Agenda, is working – even in a more difficult market environment."

The firm's recent strong results led to Mr Heidenreich being offered a contract extension earlier this year. He will continue to lead the company until the end of 2019 at the earliest.