Beiersdorf reports organic growth in second quarter of 2016

Beiersdorf has announced its financial results for the second quarter of 2016, during which it achieved a sales figure of 3.36 billion euros (2.9 billion pounds).

This represents a 1.3 percent year-on-year decline in nominal terms, but also reflected an organic underlying growth rate of 2.8 percent, which was achieved despite the continuation of recent challenging economic conditions.

During the quarter, the firm's earnings before interest and tax (EBIT) excluding special factors rose from 508 million euros to 513 million euros, while its EBIT margin continued to improve, reaching 15.3 percent compared with last year’s 14.9 percent.

All core brands contributed to the firm's positive sales performance, with Nivea sales up by 4.2 percent, the Eucerin brand advancing by one percent and the La Prairie range seeing a 6.2 percent sales improvement.

Beiersdorf now expects its group sales for the full year to grow by three to four percent overall.

Stefan Heidenreich, chief executive officer of Beiersdorf, said: "Beiersdorf continues to concentrate on its core strengths: its brands, its innovation capacity and expanding its presence in emerging markets. Overall, we are cautiously optimistic about the full year."

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