Beiersdorf, which produces both professional adhesives and Nivea, can not meet analysts' expectations: the decline in the sale of adhesives to the auto industry was too big to be offset by care products, especially since sales disappointing in that area as well.
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Beiersdorf CEO Stefan De Loecker has announced a major investment programme for the group's top brands. His intention is to counter the rise of niche brands.
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Stefan De Loecker, currently the second in command at Beiersdorf, will become CEO of Nivea’s parent company as from December. Previously, the Belgian had worked at Nestlé for twenty years.
Just like many other companies, Nivea’s parent company, German Beiersdorf, was hit by a cyber-attack last year. However, its financial results show that the attack was rather easily overcome.
Turnover for German group Beiersdorf, parent company for Nivea among other brands, has dropped nearly 2 % in the first quarter. The company points to exchange rate fluctuations, which had a sizeable negative effect.
Nivea and Eucerin sales have helped German Beiersdorf achieve a good year, with a 6.4 % turnover growth and a higher post-tax profit.