Beiersdorf AG delivered a strong start to the 2024 fiscal year, experiencing sales expansion across its entire range of brands in the Consumer Business Segment. Group sales amounted to €2.6 billion in the first quarter, marking a 7.3% increase in organic terms. Within the Consumer Business Segment, there was a notable double-digit organic sales growth of 10.0%, resulting in sales totaling €2.2 billion. This growth was largely attributed to NIVEA (including Labello), which witnessed growth in all regions. Conversely, the Tesla Business Segment saw a 5.4% decline, recording sales of €397 million.
In the first three months of 2024, NIVEA, which includes Labello, experienced an impressive organic sales surge of 12.6% compared to the previous year. This growth was driven by a balanced combination of pricing and volume increases. The iconic brand showed growth across all regions, with particularly significant increases in Europe (13% organically) and the Emerging Markets (14% organically). The success was attributed to categories like Sun, Deo, and Face Care, along with the ongoing popularity of the Luminous product range.
Eucerin and Aquaphor, the Derma brands, achieved a solid organic sales growth of 10.2% at the beginning of fiscal year 2024. The performance was notably boosted by the strong sales of Eucerin Sun products, especially in Europe. Additionally, Eucerin expanded into the Face Care market in the United States.
In the first quarter of 2024, La Prairie saw a return to growth with a modest organic sales increase of 1%. This marks a positive shift for Beiersdorf’s luxury brand, which faced challenging market conditions in the previous year. The momentum of growth is expected to accelerate further in the latter half of the year.
Vincent Warnery, CEO of Beiersdorf: “Beiersdorf is off to an outstanding start in 2024. All our main Consumer brands achieved growth in the first quarter. The strong double-digit growth at NIVEA drove our portfolio here with sales increases everywhere, especially in Europe and the Emerging Markets. NIVEA also achieved its best quarter ever in terms of absolute value in Q1. This underlines the enduring global popularity of our icon. At the same time, our Derma business contributed solid double-digit growth, and the luxury business is on its way toward the expected full turnaround after a challenging year in 2023. This performance level in the first quarter is reinforcing our continued aspiration of profitable growth, and we are therefore raising our sales guidance for the full year.”
