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Beiersdorf S&E

This article was originally published in The Rose Sheet

Executive Summary

"Extensive" investments in its North American consumer business drove organic sales in the segment up 22.3% in the first quarter, the Hamburg, Germany company announces May 6. The performance helped fuel a 4% increase in global consumer division sales to €1.32 bil. ($1.68 bil.). Strong sales in China, Russia and Brazil will continue to fuel gains in firm's consumer business, which is expected to outperform the market in 2010, Beiersdorf says. Net sales in the first quarter grew 6.9% at current exchange rates to €1.54 bil. ($1.94 bil.). The firm's after-tax profit rose 22% to €122 mil. ($156 mil.). Commenting on the performance, CEO Thomas-B. Quaas says "our development has yet to quite match our ambitious growth expectations, but we are on the right track.
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