Beiersdorf Adjusts 2022 Organic Sales Growth Target, Sets Mid-Term Goals

By Giulia Petroni

Beiersdorf AG said it has adjusted its organic sales growth target for the full year and set mid-term goals at its capital markets day on Thursday.

The German personal-care products maker said it expects organic sales growth at the upper end of its previously targeted mid-single digit range for 2022. It confirmed it expects the earnings before interest and taxes margin at the previous year's level.

In the second quarter, the company foresees growth at the upper end of a mid-single digit range for its consumer business, driven by the Eucerin and Nivea brands.

In the mid term, Beiersdorf aims to lower the tax rate under 28% at group level. For its consumer segment, the company said it expects organic sales growth above market and aims to increase the EBIT margin by at least 50 basis points per year from 2023 onwards. It also said it wants to invest in mergers and acquisitions for the segment.

Write to Giulia Petroni at [e-mail]

(END) Dow Jones Newswires

06-09-22 0618ET