Nivea maker Beiersdorf gets travel boost -Breaking
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© Reuters. BERLIN, (Reuters) – Beiersdorf’s Third Quarter Sales rose by 4.3%, aided by a rebounding travel market that supported demand and supply for its sun care products as well as the luxury La Prairie brand.
Organic sales at the German firm’s consumer division grew 4.1% due to strong Eucerin, Aquaphor, and La Prairie performance. La Prairie suffered from the global travel ban caused by the coronavirus pandemic.
Nivea witnessed a surge in sun creams and other deos. Beiersdorf stated that Eucerin Sun would be launched in the United States within the next year.
The first nine months of this year saw sales rise 12% to $5.8 billion ($6.7 billion), which translated into a figure of 1.9billion euros for the third quarter, according to analysts’ average forecast.
Tesa adhesives, which account for around a fifth in sales, posted organic sales growth at 4.6% in third quarter, aided in part by growth in China’s electronic business and recovery in auto manufacturing.
Hamburg-based company forecasts organic sales growth of 8-10% for 2021 and operating margin at the equivalent level to the previous year, due in part to higher material prices and greater investment including in recycled packaging.
($1 = 0.8620 euros)
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