German Beiersdorf's shares have been given a tremendous boost after Nivea's German parent company had revealed that it will probably reach its 2014 forecast.
"Business strategy is working"
Beiersdorf expects a 6 % turnover increase for 2014: it has reached a 4.3 % organic growth in the first 9 months, thanks to an expanded Nivea product range for men in the emerging markets. "Our business strategy is working, even in a more difficult market environment", CEO Stefan Heidenreich said.
The company's statements are highly different to what its competitors (L'Oréal and Dove's parent company, Unilever) have admitted: both have confirmed results will be down because of weaker European and Asian demand. L'Oréal has even said it will be the company's worst year since 2009.
Beiersdorf has now confirmed it is "well-positioned" to get through the difficult times. Its third consecutive quarter with surpassed forecast numbers has proven its position. EBITDA numbers reached 219 million euro, up 1.4 % from last year - even though analysts had expected a drop to 214.8 million euro.