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    BAYN   DE000BAY0017

BAYER AG

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Bayer : Nivea maker Beiersdorf names new CEO as Q1 sales rise

04/28/2021 | 04:41am EDT

BERLIN (Reuters) - Nivea maker Beiersdorf on Wednesday named board member Vincent Warnery as its new CEO to take over from May 1, as it confirmed a rise in first-quarter sales driven by strong demand for adhesives and its dermatological brands.

Beiersdorf said Stefan de Loecker will step down after a little more than two years in the job. His mandate will end on June 30.

Under de Loecker's leadership, Beiersdorf invested more in its consumer business to counter a drop in sales growth and bought U.S. sun care brand Coppertone from Bayer for $550 million to strengthen its position in North America.

The Hamburg-based firm, which pre-released first-quarter results earlier this month, confirmed group sales rising 6.3% to a pre-crisis level of 1.9 billion euros ($2.29 billion) in the three months of the year. It said online sales jumped by more than 70% in the quarter.

It reaffirmed its full-year 2021 EBIT (earnings before interest and tax) margin forecast would be level with last year's as the pandemic continues to hit sales of sun and lip care products.

Shares in the company were up 0.9% at 0743 GMT.

($1 = 0.8284 euros)

(Reporting by Riham Alkousaa; Editing by Maria Sheahan and Barbara Lewis)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BAYER AG -1.06% 52.19 Delayed Quote.8.38%
BEIERSDORF AG -0.82% 102.4 Delayed Quote.8.43%
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Financials
Sales 2021 41 349 M 49 246 M 49 246 M
Net income 2021 3 593 M 4 280 M 4 280 M
Net Debt 2021 38 658 M 46 042 M 46 042 M
P/E ratio 2021 15,3x
Yield 2021 3,88%
Capitalization 51 273 M 61 083 M 61 066 M
EV / Sales 2021 2,17x
EV / Sales 2022 2,05x
Nbr of Employees 99 329
Free-Float 100,0%
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 64,63 €
Last Close Price 52,19 €
Spread / Highest target 62,9%
Spread / Average Target 23,8%
Spread / Lowest Target -50,3%
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Managers and Directors
NameTitle
Werner Baumann Chairman-Management Board
Wolfgang U. Nickl Chief Financial Officer
Norbert Winkeljohann Chairman-Supervisory Board
Bijoy Sagar Chief Information Technology Officer
Paul Achleitner Member-Supervisory Board
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