By Giulia Petroni
Beiersdorf AG said Wednesday that it expects sales growth for the first quarter to be above market expectations, but that it can't provide a reliable full-year forecast due to limited visibility.
The German maker of Nivea skin cream said that group sales rose 6.3% organically to 1.95 billion euros ($2.31 billion) in the quarter, according to provisional figures.
The consumer-business segment recorded a 2.7% increase on year in organic sales, driven by skin care, while adhesive brand Tesa's organic sales growth rose 24% to EUR397 million on strong demand from the industrial business.
Beiersdorf said there are no changes related to the forecast for 2021 provided earlier this year but that visibility is still limited by the coronavirus pandemic to provide a reliable outlook.
The company still anticipates positive sales growth in both business segments and at group level in the full year. The earnings before interest and taxes margin is seen at the prior year's level for the consumer segment and at group level, but below the previous year in the Tesa business.
The company is scheduled to release first-quarter results on April 28.
Write to Giulia Petroni at firstname.lastname@example.org
(END) Dow Jones Newswires