2022 was a record year for Beiersdorf, the parent company of Nivea and Eucerin. Both sales and profits rose sharply. However, the group will not keep it up this year.
Nivea takes the crown
Organic sales rose 10.2% at Beiersdorf in the past financial year. Both the consumer care products division and the Tesa adhesives unit, which serves the electronics and automotive markets, recorded good progress.
At Nivea, Eucerin and La Prairie, sales climbed 8.8% to 6.1 billion euros, with flagship Nivea a continuing strong performer. The brand sold 9.6%, helped by rising demand in emerging markets and higher prices, Reuters observes.
Decline in 2023
Tesa actually saw sales grow 13.6% to 1.5 billion euros. As car and electronics production picked up, demand increased, while price increases helped offset the significantly higher costs. Operating profit also improved by 16.6% to 1.2 billion euros.
“2022 was an excellent year for Beiersdorf with a remarkable result for both business segments, Consumer and Tesa,” said CEO Vincent Warnery. “For the first time in at least two decades, we delivered double-digit organic sales growth.” This year, however, organic sales growth will slow to around 5% due to ongoing inflation and cost increases, Warnery expects.