Nivea maker Beiersdorf has recorded a 10.7% decline in sales in the first half of 2020, its latest financial results show.
In the half-year period to 30 June, the group achieved earnings before interest and taxes (EBIT) of €472 million, compared to €593 million for the same period the previous year.
This corresponds to an earnings before interest and taxes (EBIT) margin of 13.7%, compared with 15.4% in the previous year.
“In this extremely turbulent year, our business has been strongly impacted by the COVID-19 pandemic," commented Stefan De Loecker, Beiersdorf chief executive.
"The entire skin care market significantly declined and, as a consequence, the effect on sales was clearly felt in the first half of 2020."
Consumer Business
In its core Consumer Business segment, organic sales fell by 10.9% in the first half, with Europe down 12.8% and Africa/Asia/Australia down 14.4%, however its Americas business posted a 1.5% increase, boosted by a positive Latin America performance.
Sales of its Nivea brand fell by 8.8% in the half-year period, La Prarie fell by 41.0%, while its Healthcare business, mainly comprising the plaster business, recorded a 7.7% fall in sales.
Its Derma business unit, which includes the Eucerin and Aquaphor brands, posted a 6.2% sales increase.
“The COVID-19 pandemic is unfortunately not over yet and the situation remains exceptionally volatile, De Loecker added.
"But as we are determined to emerge stronger from this unparalleled crisis, we are continuing to further invest in the initiatives of our C.A.R.E.+ strategy.”
© 2020 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.
