The Beiersdorf Group recorded organic sales growth of 4.5 percent in the first half of 2010. At current exchange rates, group sales were up by as much as 7.8 percent on the previous year, at €3,170 million (previous year: €2,941 million). The operating result (EBIT) increased to €385 million (previous year: €291 million). As a result, the EBIT margin rose to 12.2 percent (previous year: 9.9 percent).
The consumer business segment recorded sales growth of 2.6 percent in the first half of 2010. Nominal sales rose to €2,741 million (previous year: €2,593 million). The operating result increased to €327 million (previous year: €284 million), while the EBIT margin was 11.9 percent (previous year: 11.0%).
Germany recorded a 2.3 percent decline in sales. Sales for the previous year in this area had been above average due to an extremely successful Nivea marketing campaign. In the other Western European markets the consumer business segment generated sales of €975 million, on a level with the previous year. In nominal terms, sales in Eastern Europe amounted to €301 million—a drop in organic terms of 3.4 percent compared with the figure for the previous year. While Russia achieved clear double-digit sales growth, sales in the other Eastern European markets suffered as a result of the weak economy. At 15.6 percent, organic growth by the North American business was clearly in excess of the market. Nominal sales amounted to €176 million. In Latin America, the Consumer business segment recorded an organic growth rate of 18.2 percednt. All major markets in the region contributed to this positive performance. Nominal sales amounted to €242 million. Sales in the Africa/Asia/Australia region climbed to €575 million, an organic growth rate of 5.8 percent. The companies in the Middle East and Thailand, as well as the China Group performed well here.
The tesa business segment generated sales of €429 million in the first six months of 2010, an increase in organic sales of 18.8 percent. This represents a rise of €81 million on the figure for the prior-year period (€348 million). The industrial segment in particular recorded substantial sales growth from customers in the automotive and electronics industries. EBIT picked up sharply again, rising from €7 million to €58 million. As a result, the EBIT margin was 13.6 percent (previous year: 2.0 percent).
Outlook for the current fiscal year
For full-year 2010, the Beiersdorf Group intends to generate organic sales growth in excess of the market. The goal is to increase the EBIT margin to above 11 percent. The Consumer business segment aims to continue to outperform the market in 2010 in terms of organic growth. China, Russia and Brazil continue to be particularly important here. The business segment is planning to generate a full-year EBIT margin clearly above 11 percent.
tesa expects sales growth to exceed the market in a gradually recovering environment that is nevertheless still plagued by economic uncertainty. Based on the measures to preserve EBIT implemented in 2009, tesa expects an EBIT margin slightly above 9 percent.