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Nivea-maker Beiersdorf Says Business Improved Significantly

Nivea-maker Beiersdorf Says Business Improved Significantly

German consumer goods firm Beiersdorf, bestknown for its Nivea skin cream, said on Wednesday its business significantly improved in the third quarter after the coronavirus pandemic caused a revenue drop in the first half.

BERLIN: German consumer goods firm Beiersdorf, best-known for its Nivea skin cream, said on Wednesday its business significantly improved in the third quarter after the coronavirus pandemic caused a revenue drop in the first half.

Sales for the first nine months came in at 5.7 billion euros ($6.74 billion), the Hamburg-based company said, a decline of 8.5% on the year after the pandemic-induced slump.

“We expect sales growth of the Beiersdorf group for the full year 2020 to be at year-to-date level or slightly better,” it said.

Beiersdorf expects operating profit (EBIT) margins to be significantly below prior year’s level, it added.

($1 = 0.8461 euros)

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