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Beiersdorf sees strong 2022, mid-term sales as face care booms

Reuters
·1-min read
FILE PHOTO: Nivea tins on a production line at a Beiersdorf factory in Hamburg

BERLIN (Reuters) - Nivea owner Beiersdorf said on Thursday it expects its 2022 revenue to reach the upper end of its forecast and announced new mid-term goals including growth above the market as it has benefited from strong sunscreen and face care demand.

In the medium term, the company expects to grow organic sales above market level and increase its earnings before interest and taxes (EBIT) margin by at least 50 bps each year from 2023, Chief Executive Vincent Warnery told investors.

The group, which saw a strong performance at its core Nivea brand in the second quarter with face care outperforming body care, will also look to invest in new acquisitions to fill gaps in its offer, the CEO said at Beiersdorf's Capital Markets Day.

(Reporting by Jan Schwartz; Writing by Zuzanna Szymanska, Editing by Miranda Murray)