Beiersdorf S&E
This article was originally published in The Rose Sheet
Executive Summary
Consumer divisions in North America performed particularly well in the first quarter, with Beiersdorf recording sales growth of 8.5% and La Prairie sales gaining 43%, German consumer products manufacturer says in a May 14 1report. "Dramatic developments" in exchange rates in the Americas, however, led to a 17.7% drop in sales year-on-year, the company noted. Global sales of the Cosmed division increased 1% at current exchange rates to $912.9 mil. (€1=$1.15) with growth of Nivea offset by negative currency impact. Earnings before interest and taxes for the division were flat at $125.3 mil. Consolidated sales at constant exchange rates rose 7.4% in Q1, while sales at current exchange rates were flat at $1.37 bil. Earnings before interest and taxes were flat at $152.9 mil...
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