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Nivea-maker Beiersdorf sales fell 10.7% in first half

By
Reuters
Published
Jul 7, 2020
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Nivea-maker Beiersdorf said on Monday it had seen a 10.7% fall in first-half sales as both its consumer business and adhesives unit were hard hit by the coronavirus pandemic.


Nivea


Beiersdorf saw the impact worsen in the last three months, posting first-half sales of 3.513 billion euros, below an average analyst forecast for 3.65 billion euros ($4.13 billion), according to Refinitiv data.

Beiersdorf, which is due to report full half-year figures on Aug. 6, said it could still not give a forecast for the impact of the pandemic on full year results. First-quarter sales had fallen 3.6%.

It said the first-half decline at the consumer business came in at 10.9%, while the Tesa adhesives business, which supplies the automotive and electronics industries, saw a drop of 10%.

Beiersdorf said in May that its La Prairie premium skincare brand and sun care products have been hit by the drop in international travel even though sales of hand wash, hand creams and plasters jumped.

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