Return on Blue Cans?

Last Updated: 22. Januar 2024By

Do you also reach for Nivea when your skin feels tight? We explain whether the Beiersdorf group also has something to offer for investors. The Beiersdorf group consists of the core division Consumer (NIVEA, 8ร—4, Eucerin, Labello, La Prairie, Florena, and Hansaplast) as well as the division tesa (adhesive technology). NIVEA is the most significant and also the oldest body care brand in the world. Under the tesa brand, adhesive applications are developed and marketed for industrial customers and end consumers. Beiersdorf is present worldwide with around 150 subsidiaries.

Strong numbers, but… Beiersdorf presented strong numbers for the first 9 months. Sales increased by 11.2% to โ‚ฌ7.26 billion. Beiersdorf does not publish numbers for profit at the end of the quarter. Sales in the Consumer division increased by 13.6% to โ‚ฌ6.0 billion. The main drivers were the brands Nivea, Eucerin, and Aquaphor. Nivea saw an increase of 17.5% and Eucerin and Aquaphor saw an increase of 24.8%. The development was driven by growth in the e-commerce business and performance in Latin America. In Latin America, sales increased by 27.2%. However, the sales of the luxury brand La Prairie decreased by 15.8%. The decline was primarily due to the active reduction of inventory in the Chinese and Korean travel retail markets. This means a healthier starting position for the La Prairie brand in the coming fiscal year.

Question marks remain for us The healthcare business, which mainly includes the plaster business, saw sales growth of 4.3%. Beiersdorf was able to gain market share through the production of large-sized plasters for postoperative wound care. In the tesa division, sales increased by 1.3% to โ‚ฌ1.3 billion. The business was burdened by a challenging market environment, particularly in the electronics sector. The main driver of sales in the tesa division was the focus on sustainable innovations. Currently, the stock is at a record high and is not cheaply valued. This is why we remain cautious โ€“ the dividend yield of 0.6% also does not convince us.