Beiersdorf sales fall due to coronavirus
Beiersdorf AG said Tuesday that sales fell in the first quarter as a result of the coronavirus.
The German maker of personal-care products said sales in the period were 1.91 billion euros ($2.09 billion), a 3.6% fall on year on an organic basis.
The consumer business segment registered a quarterly sales decline of 3.3% to EUR1.58 billion compared with the previous year, the company said, while the tesa business segment had a sales decline of 5.1% to EUR329 million.
“Our selective cosmetics brand La Prairie has been particularly hit by the drop in international travel,” said Chief Executive Stefan De Loecker. “At the same time, our core brand Nivea remained steady with only a slight fall in sales, while our Derma and Healthcare brands achieved strong, double-digit sales growth.”
Earlier this year, Beiersdorf withdrew its guidance for 2020, saying it expects the coronavirus to significantly affect its business performance over the year but that it is currently unable to assess the scope of the impact.
Giulia Petroni
Source:marketwatch.com