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Beiersdorf first quarter

This article was originally published in The Rose Sheet

Executive Summary

Sales of the consumer business segment, which includes Nivea, Eucerin and la prairie skin care brands, declined 0.5 percent on a like-for-like basis to $1.65 billion (€1=$1.30) in the first quarter, negatively impacted by destocking among retail partners, German company announces April 17. Operating results fell 15.8 percent to $187.5 million, the firm says. Noting skin care performance was "mixed," Beiersdorf adds "with the exception of Germany, a majority of markets in the major industrialized nations declined, while the rate of increase in growth markets such as China, Brazil, and Eastern Europe clearly slowed." However, the firm believes it will outperform the market in 2009 and deliver consumer sales "slightly" in excess of last year

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