Beiersdorf’s organic growth of 8.5% on the first three quarters of 2008 is more than twice that of the market. The Hamburg-based German group said it is gaining market shares in the strategic high-growth regions of Eastern Europe, Asia, and Latin America in particular. Business is developing extremely well in China.
"Beiersdorf’s global sales growth remains high at 11.8% despite the strains in the economy. Our core brands Nivea, Eucerin, and La Prairie are doing very well in the market and are recording double-digit sales growth. Brand quality and trust are the deciding factors in consumer purchasing decisions these days. We expect this trend to continue. Of course we are monitoring current developments in the financial markets and their effects on the real economy carefully. We remain optimistic that we will meet our targets for 2008,” said Thomas B. Quaas, Chairman of the Executive Board of Beiersdorf AG.
Up to the end of the third quarter, the Group generated sales of EUR 4,547 million increasing by 11.8% compared to the same period of previous. Organic growth, i.e., growth adjusted for currency translation effects and excluding the acquisitions made at the end of 2007 amounted to 8.5%.
The operating result (EBIT excluding special factors) amounted to EUR 548 million (previous year: EUR 531 million). Profit after tax (excluding special factors) amounted to EUR 394 million (previous year: EUR 380 million).