Beiersdorf AG

Quarterly Report • May 4, 2006

Interim Report January – March 2006

Strong in our Growth Regions

Beiersdorf – Passion for Skin and Beauty Care

Contents

• 02 Business Developments Overview
• 04 Segment Overview
• 05 News
• 06 Business Developments Group
• 07 Business Developments Business Segments
• 10 Balance Sheet Structure Group
• 11 Financial Position Group
• 11 Other Disclosures
• 12 Outlook 2006
• 13 The Beiersdorf Share
• 14 Financial Information

Business Developments – Overview

Sales (in € million)

Profit after tax (in € million)

*excluding income from the sale of BSN medical

Beiersdorf – Passion for Skin and Beauty Care

Our Cover Image: Strong in our Growth Regions

In addition to Western Europe we concentrate on the growth markets China, Russia, Brazil, and India. In the fi rst quarter we were able to grow signifi cantly above-average in these strategic markets.

Successful start

• Sales growth of 6.2 % (adjusted for currency translation effects)
• Operating result (EBIT) rises by 12.2 %
• EBIT margin reaches 12.7 %
• Profit after tax €462 million
• Income from the sale of BSN medical €361 million (after tax)
• Return on sales after tax 7.9 %*

Outlook for 2006

• Stronger sales growth than 2005
• EBIT margin up year-on-year**
• Return on sales after tax will continue to climb**

Beiersdorf at a Glance	Jan. 1 – Mar. 31	Jan. 1 – Mar. 31
in € million (unless otherwise stated)	2005	2006
Sales	1,173	1,275
Change in % (nominal)	-0.1	8.7
Change in % (adjusted for currency translation effects)	0.4	6.2
Consumer	995	1,075
tesa	178	200
EBITDA	182	193
Operating result (EBIT)	145	162
Profi t after tax	92	462
Profi t after tax (excluding special factors)	92	101*
Return on sales (after tax) in %	7.8	7.9*
Earnings per share in €	1.20	1.32*
Gross cash fl ow	158	140
Capital expenditure (incl. fi nancial assets)	28	24
Research and development expenses	24	27
Employees (as of Mar. 31)	16,721	17,059

*excluding income from the sale of BSN medical

** excluding income from the sale of BSN medical and expenses for the realignment

of the Consumer Supply Chain

Segment Overview

Business developments by business segment

Sales
(in € million)	Jan. 1 – Mar. 31,	2005 % of total		Jan. 1 – Mar. 31, 2006 % of total	nominal	Change in % adj. for curr. trans. effects
Consumer	995	84.8	1,075	84.3	8.0	5.5
tesa	178	15.2	200	15.7	12.6	10.1
	1,173	100.0	1,275	100.0	8.7	6.2
Operating result before depreciation and amortization (EBITDA) (in € million)		% of sales		% of sales		Change in % nominal
Consumer	160	16.1	167	15.6		4.5
tesa	22	12.3	26	12.9		18.2
	182	15.5	193	15.2		6.2
Operating result (EBIT)						Change in %
(in € million)		% of sales		% of sales		nominal
Consumer	129	12.9	143	13.3		10.9
tesa	16	8.8	19	9.6		22.7
	145	12.3	162	12.7		12.2
Gross cash flow						Change in %
(in € million)		% of sales		% of sales		nominal

Consumer	140	14.1	125	11.6	-10.9
tesa	18	10.2	15	7.7	-14.8
	158	13.5	140	11.0	-11.3

Business developments by region

Sales
(in € million)	Jan. 1 – Mar. 31,	2005 % of total	Jan. 1 – Mar. 31,	2006 % of total	nominal	Change in % adj. for curr. trans. effects
Europe	882	75.1	935	73.3	6.0	5.6
Americas	155	13.2	182	14.3	18.1	5.7
Africa/Asia/Australia	136	11.7	158	12.4	15.4	10.3
	1,173	100.0	1,275	100.0	8.7	6.2

Operating result (EBIT)
(in € million)		% of sales		% of sales	Change in % nominal
Europe	126	14.2	144	15.4	15.3
Americas	5	3.2	5	2.7	-2.6
Africa/Asia/Australia	14	10.4	13	8.1	-10.4
	145	12.3	162	12.7	12.2

Figures in percent are calculated based on thousands of euros.

News

This selection of news from the first quarter shows the consistent implementation of our "Passion for Success" Consumer Business Strategy, which is enabling us to continually grow our global market share.

JANUARY

la prairie group

The JUVENA/La Prairie Group has a new name as of 2006: the "la prairie group" now unites la prairie, JUVENA, and MARLIES MÖLLER Beauty Hair Care brands,

FEBRUARY

NIVEA FOR MEN Successful in China

Just two years after its launch, NIVEA FOR MEN has taken the number 1 position (according to ACNielsen) in China in February in the men's facial care segment. This market segment continues to offer substantial growth potential in China.

Realigning the Supply Chain

In February 2006, the fi rst steps in rea-

MARCH

Anti-aging Products Offer Market Potential NIVEA body's anti-aging

skin care offers major opportunities: the anti-aging

treatment with the skin's own creatine has been proven to help reduce the loss of skin elasticity, wrinkles, and dryness.

and SBT Skin Biology Therapy, which are positioned on the global cosmetics market.

NIVEA in Russia

In January 2006, the new NIVEA brand strategy was presented to trade partners in Russia. The focus on specifi c strong product categories was received very well, as were the latest product innovations.

ligning the Consumer Supply Chain were announced. In addition to shifting production of wound care products from Hamburg to Argentona (Spain), the possible closure

of the production facilities in Kungsbacka (Sweden) and Almere (The Netherlands) was also announced, along with the possible closure of the warehouses in The Netherlands and Belgium. The cost savings will

NIVEA deodorant Pearl and Beauty NIVEA deodorant Pearl and

Beauty offers more than just reliable deodorant protection thanks to its 24-

hour formula. For the fi rst time, this product introduces the idea of beauty care into the deodorant product category. The product's recipe for success includes precious pearl ex tracts that eliminate unevenness and leave underarms feeling smooth and beautiful.

Eucerin Sensitive Skin

Eucerin Sensitive Skin started the new year with an international relaunch. Eucerin Sensitive Skin, which features Eucerin

pH5 Enzyme Protection, is a skin care line that has been proven to replenish the skin's own enzymes and activate the skin's natural defenses.

be leveraged for investments in brands and markets.

Beiersdorf is Partner in CAN

The Center for Applied Nanotechnology (CAN) was founded in Hamburg with Beiersdorf as a partner. CAN offers opportunities for developing new product technologies. Nanotechnology is already being used by Beiersdorf in many products, such as deodorants.

NIVEA Named "Most Trusted Brand" in 2006

In the skin care prod uct category, NIVEA is considered the most

trusted brand in Europe. This designation was awarded for the sixth consecutive time by this year's "Reader's Digest Most Trusted Brands" survey. Readers in 14 European countries rewarded Beiersdorf for the high quality of the NIVEA brand, as well as for its consumer focus.

"Passion for Success"

Please visit www.Beiersdorf.com for our Consumer Business Strategy along with full background information and additional current news.

Business Developments – Group

Sales growth of 6.2 % EBIT margin climbs to 12.7 % Profit after tax (excluding special factors) up significantly

In the fi rst quarter, the Group achieved sales growth of 6.2 % (adjusted for currency translation effects). The Consumer business segment contributed to this excellent result with sales up 5.5 %, while tesa sales increased by 10.1 %. At current exchange rates, sales increased by 8.7 % to €1,275 million in the fi rst quarter (previous year: €1,173 million).

Income Statement
(in € million)	Jan. 1 – Mar. 31, 2005	Jan. 1 – Mar. 31, 2006	Change in %
Sales	1,173	1,275	8.7
Cost of goods sold	-393	-421	7.1
Gross profi t	780	854	9.5
Marketing and selling expenses	-542	-590	8.8
Research and development expenses	-24	-27	9.5
General and administrative expenses	-56	-61	9.3
Other operating result	-13	-14	11.6
Operating result (EBIT)	145	162	12.2
Income from the sale of BSN medical	-	371	-
Other fi nancial result	2	-	-
Profi t before tax	147	533	263.4
Taxes on income	-55	-71	29.5
Profi t after tax	92	462	402.1
Basic/diluted earnings per share (in €)	1.20	6.09	409.2

The Group's operating result (EBIT) grew faster than sales, climbing to €162 million (previous year: €145 million). The EBIT margin rose to 12.7 % (previous year: 12.3 %). These fi gures do not yet include any restructuring expenses for the realignment of the Consumer Supply Chain, as the fi rst measures announced in February will not be implemented in concrete projects until later in 2006. The corresponding restructuring expenses will be reported for the fi rst time in the half-year report.

Income of €371 million (after tax: €361 million) was generated by the sale of Beiersdorf's share in BSN medical in February 2006.

Profi t after tax increased to €462 million (previous year: €92 million). The return on sales after tax rose to 36.2 % (previous year: 7.8 %). After adjustment for the sale of BSN medical, profi t after tax was €101 million and the return on sales was 7.9 %.

Beiersdorf's earnings per share based on 75,606,328 shares, rose to €6.09 (previous year: €1.20). The basic and diluted earnings per share were the same. After adjustment for the sale of BSN medical, earnings per share still rose to €1.32.

Business Developments – Business Segments

Consumer business segment sales up 5.5 % EBIT margin climbs to 13.3 %

Consumer
(Jan. – March)	Europe	Americas	Africa/ Asia/	Total
(in € million)			Australia
Sales 2006	786	159	130	1,075
Change (adjusted for
currency translation effects)	4.9 %	4.9 %	10.2 %	5.5 %
Change (nominal)	5.3 %	17.0 %	14.8 %	8.0 %
EBIT 2006	129	4	10	143
EBIT margin 2006	16.4 %	2.5 %	7.8 %	13.3 %
EBIT 2005	112	5	12	129
EBIT margin 2005	15.0 %	3.6 %	10.4 %	12.9 %

Sales rose by 5.5 %, adjusted for currency translation effects. At current exchange rates, the Consumer business segment achieved sales growth of 8.0 % to €1,075 million (previous year: €995 million). Strong double-digit growth was seen in particular in our focus regions of Eastern Europe, Latin America, and Asia.

NIVEA sales rose by 7.1 %. This positive development was driven primarily by NIVEA BEAUTÉ, NIVEA Hair Care Styling, and NIVEA FOR MEN. Eucerin and la prairie also generated above-average growth rates.

The Consumer business segment's operating result (EBIT) increased strongly to €143 million (previous year: €129 million). This EBIT growth was generated exclusively in Europe. The EBIT margin rose to 13.3 % (previous year: 12.9 %).

Consumer Sales in Europe
(Jan. – March)	Germany	Western Europe (excluding	Eastern Europe	Total
(in € million)		Germany)
Sales 2006	243	439	104	786
Change (adjusted for
currency translation effects)	0.5 %	4.2 %	21.0 %	4.9 %
Change (nominal)	0.5 %	4.0 %	26.1 %	5.3 %

In Europe, sales in the Consumer business segment increased by 4.9 % adjusted for currency translation effects. At current exchange rates, sales increased 5.3 % to €786 million (previous year: €746 million).

Sales to customers in Germany remained only at the previous year's level due mostly to a delay in the shipment of NIVEA SUN compared to the previous year. NIVEA FOR MEN and NIVEA BEAUTÉ performed well. Our Eucerin brand achieved excellent growth in the pharmacy business. Exports from Germany increased by 4.0 %.

In Western Europe, sales growth picked up again at +4.2 % (adjusted for currency trans lation effects). We saw particularly high growth in Switzerland, The Netherlands, and the Nordic countries. Sales growth in our other major markets, such as France and Italy, was also solid again.

In Eastern Europe, many of our affi liates started the new year with double-digit growth rates. Especially the excellent growth in the large markets of Poland and Russia contributed to the growth of the region, which totaled 21.0 % (adjusted for currency translation effects). In Russia, NIVEA FOR MEN and NIVEA deodorant performed particularly well. In Poland we were very successful with NIVEA deodorant and NIVEA VISAGE, as well as with the launch of NIVEA Hair Care Styling products.

The Consumer business segment in Europe recorded above-average EBIT growth, from €112 million in the previous year to €129 million. The EBIT margin rose to 16.4 % (previous year: 15.0 %).

Consumer Sales in the Americas (Jan. – March)
(in € million)	North America	Latin America	Total
Sales 2006	91	68	159
Change (adjusted for currency translation effects)	-4.9 %	22.0 %	4.9 %
Change (nominal)	4.1 %	40.0 %	17.0 %

In the Americas region, sales increased by 4.9 % (adjusted for currency translation effects). At current exchange rates, sales amounted to €159 million, up 17.0 % on the previous year (€136 million).

In North America, NIVEA FOR MEN performed well and growth was excellent in Canada. Streamlining of the product range in the United States in connection with the focus on our strong brands and later launch activities in comparison to the previous year offset this development. Sales were 4.9 % lower than previous year (adjusted for currency translation effects).

In Latin America, sales rose by 22.0 % (adjusted for currency translation effects), due to double-digit growth in nearly all countries in this core region.

EBIT for the Consumer business segment in this region amounted to €4 million (previous year: €5 million). The EBIT margin amounted to 2.5 % (previous year: 3.6 %).

Consumer Sales in Africa/Asia/Australia
(Jan. – March) (in € million)	Africa/Asia/ Australia
Sales 2006	130
Change (adjusted for currency translation effects)	10.2 %
Change (nominal)	14.8 %

At +10.2 %, Africa/Asia/Australia again achieved double-digit sales growth (adjusted for currency translation effects). With sales growth of over 40 %, which is particularly attributable to the success of NIVEA FOR MEN and NIVEA VISAGE, China far outperformed the rest of the market. Whitening products contributed in particular to the success of

NIVEA VISAGE. Australia, Korea, and South Africa also saw double-digit growth. In Japan, however, sales remained at the previous year's level. The reasons were that retailers had built up inventory last year for the successful launch of NIVEA body.

At current exchange rates, sales amounted to €130 million, up 14.8 % on the previous year (€113 million). EBIT for the Consumer business segment in this region amounted to €10 million (previous year: €12 million). The EBIT margin amounted to 7.8 % (previous year: 10.4 %).

tesa (Jan. – March)	Europe	Americas	Africa/ Asia/	Total
(in € million)			Australia
Sales 2006	149	23	28	200
Change (adjusted for currency translation efffects)	9.7 %	12.1 %	10.8 %	10.1 %
Change (nominal)	9.8 %	26.4 %	18.1 %	12.6 %
EBIT 2006	15	1	3	19
EBIT margin 2006	10.6 %	3.4 %	9.8 %	9.6 %
EBIT 2005	14	-	2	16
EBIT margin 2005	9.7 %	0.2 %	10.8 %	8.8 %

tesa business segment: sales up 10.1 % EBIT margin climbs to 9.6 %

Adjusted for currency translation effects, tesa sales were up signifi cantly on the previous year at +10.1 %. This excellent result is partially due to the lower sales in the prior-year period compared to the good level for the year as a whole. At current exchange rates, tesa's sales amounted to €200 million, up 12.6 % on the previous year.

The strong growth in this segment was driven by both the industrial and the consumer businesses. In the industrial segment, the highlight was the positive growth in the automotive and automotive supply sector. tesa generated double-digit growth in the automotive segment as well as the printing and paper industry and electrical/electronics industry segments.

In the consumer business, the "do-it-yourself" segment saw strong double-digit growth, particularly thanks to the growth in the tesa Moll product group. The long, cold winter in Europe was a positive factor in this sales growth.

All regions contributed to this solid development. Particularly notable was the growth in North America (+18 % adjusted for currency translation effects) and in Eastern Europe (+21 % adjusted for currency translation effects).

EBIT climbed to €19 million (previous year: €16 million), while the EBIT margin rose to 9.6 % (previous year: 8.8 %).

Balance Sheet Structure – Group

Balance Sheet
Assets (in € million)	Dec. 31, 2005	Mar. 31, 2005	Mar. 31, 2006
Non-current assets	962	1,055	947
Inventories	536	590	585
Other current assets	926	957	922
Cash and cash equivalents	483	255	980
	2,907	2,857	3,434
Equity and liabilities (in € million)	Dec. 31, 2005	Mar. 31, 2005	Mar. 31, 2006
Equity*	1,293	1,133	1,734
Non-current liabilies	601	641	591
Current liabilities	1,013	1,083	1,109

* before appropriation of net retained profi ts

Inventories rose to €585 million since the beginning of the year, but were still under the level of the previous year. Within other current assets, the seasonal increase in trade receivables was offset by the sale of our investment in BSN medical (€77 million). Cash and cash equivalents increased signifi cantly due to the sale of BSN medical. Non-current liabilities changed only insubstantially as against the year-end. The rise in current liabilities is attributable to the higher pro visions for marketing and selling expenses, and for taxes on income.

Financing Structure
Dec. 31, 2005	38 %44 %	21 %	35 %
Mar. 31, 2005	40 %	22 %	38 %
Mar. 31, 2006	51 %	17 %	32 %

Equity Non-current liabilities Current liabilities

Financial Position – Group

Cash Flow Statement (in € million)	Jan. 1 – Mar. 31, 2005	Jan. 1 – Mar. 31, 2006
Cash and cash equivalents as of Jan. 1	290	483
Gross cash fl ow	158	140
Change in working capital	-133	-31
Net cash fl ow from operating activities	25	109
Net cash fl ow from investing activities	-12	418
Free cash fl ow	13	527
Net cash fl ow from fi nancing activities	-55	-28
Other changes	7	-2
Net change in cash and cash equivalents	-35	497
Cash and cash equivalents as of Mar. 31	255	980

Gross cash fl ow amounted to €140 million. Working capital increased by €31 million, €102 million less than in the previous year. Net cash fl ow from operating activities reached €109 million, €84 million more than in the previous year. We achieved a net cash fl ow from investing activities of €418 million, including a cash infl ow from the sale of our investment in BSN medical of €433 million. Free cash fl ow reached €527 million (€94 million excluding the net cash infl ow from the sale of BSN medical). Net cash outfl ow from fi nancing activities amounted to €28 million. Cash and cash equivalents rose to €980 million.

Other Disclosures

Capital expenditure

Beiersdorf invested €22 million (previous year: €27 million) in property, plant, and equipment and intangible assets. €18 million of this was attributable to the Consumer business segment (previous year: €20 million) and €4 million to tesa (previous year: €7 million).

Employees

The number of employees grew by 290 to 17,059 compared to the fi gure on December 31, 2005. As of March 31, 2006 13,423 employees worked in the Consumer business segment and 3,636 at tesa.

Employees by region as of March 31, 2006

Accounting Policies

The fi gures disclosed in this Interim Report were prepared in accordance with International Financial Reporting Standards (IFRS). The same accounting policies were used in the Interim Report as in the Annual Financial Statements for 2005.

The Interim Report was not reviewed by an auditor.

Corporate Governance

The declaration of compliance issued by the Supervisory Board and the Executive Board for fi scal 2005 regarding the recommendations of the German Corporate Governance Code in accordance with §161 of the Aktiengesetz (German Stock Corporation Act) was published at the end of December 2005 and is permanently available on our website at www.Beiersdorf.com.

Outlook for 2006

Expected Macroeconomic Developments

We do not anticipate any major changes in the macroeconomic situation in 2006 over the previous year. Our assessment continues to be based on current growth rates. While we expect growth in Western Europe and North America to be relatively moderate, we are forecasting substantially stronger economic development in Eastern Europe, Latin America, and Asia.

The global cosmetics market will continue its long-term growth at 3 %. Despite some positive developments, we do not anticipate sustained improvement in the major markets of Western Europe. We expect the cosmetics market in Eastern Europe, Latin America, and Asia to perform well. tesa's markets are anticipated to pick up increasingly, particularly in the automotive segment.

The robust growth in Asia is expected to generate strong demand for raw materials and energy. We therefore expect no relief in prices for raw materials.

Expected Business Developments

The Consumer business segment is planning higher sales growth in 2006 than in 2005 on a like-for-like basis, excluding currency translation effects. The EBIT margin (before special factors) is expected to increase further. tesa anticipates that sales growth will outperform the market and be up on the previous year. The EBIT margin will continue to improve.

For the Group as a whole, we anticipate sales growth to be stronger in 2006 than in 2005, and to exceed market growth. The EBIT margin (before special factors) is expected to increase further. This will also have a positive effect on our profi t after tax and return on sales after tax.

The realignment of the Consumer Supply Chain will result in aggregate additional costs of around €220 million (before tax) over the next three years. Approximately €70 million of this amount will be incurred in 2006 for the measures announced in February. The profi t after tax will decline by around €43 million in 2006 as a result.

Profi t after tax will include income of €361 million (after tax) from the sale of BSN medical.

The Beiersdorf Share

The mood on international stock markets was marked by increasing optimism in the fi rst quarter of 2006. According to many observers, growth prospects in Europe and Japan have improved, so that a more uniform global economic growth is anticipated this year. Most indices are on a clear upswing and were hardly infl uenced by the latest interest rate increase by the European Central Bank. At the end of the quarter, the DAX was close to breaking through the 6,000-point barrier.

Indicators in the HPC (household and personal care) sector, which includes Beiersdorf, were clearly healthy in the fi rst three months of the year. The annual results for 2005, which were released during this period, contributed substantially to this performance.

The Beiersdorf share price was also boosted by the excellent fi nancial results of the previous year and the outlook for 2006. Above all, the new Consumer Business Strategy was a key factor in our share price performance. After its publication in November 2005, the fi nancial community showed growing interest in the four cornerstones of our "Passion for Success" strategy. After a rapid rise, our share price stabilized at a high level in the fi rst quarter, closing at €119.00 at the end of the quarter.

Beiersdorf share price performance in the first quarter

Financial Information

Income Statement
(in € million)	Jan. 1 – Mar. 31, 2005	Jan. 1 – Mar. 31, 2006	Change in %
Sales	1,173	1,275	8.7
Cost of goods sold	-393	-421	7.1
Gross profi t	780	854	9.5
Marketing and selling expenses	-542	-590	8.8
Research and development expenses	-24	-27	9.5
General and administrative expenses	-56	-61	9.3
Other operating result	-13	-14	11.6
Operating result (EBIT)	145	162	12.2
Income from the sale of BSN medical	-	371	-
Other fi nancial result	2	-	-
Profi t before tax	147	533	263.4
Taxes on income	-55	-71	29.5
Profi t after tax	92	462	402.1
Minority interests	-2	-1	-
Net profi t	90	461	409.2
Earnings per share (in €)*	1.20	6.09	409.2

*calculated on the basis of the weighted number of shares (2005/2006: 75,606,328)

Balance Sheet
Assets (in € million)	Dec. 31, 2005	Mar. 31, 2005	Mar. 31, 2006
Intangible assets	34	50	32
Property, plant, and equipment	882	887	872
Non-current fi nancial assets	5	91	6
Other non-current assets	8	-	6
Deferred tax assets	33	27	31
Non-current assets	962	1,055	947
Inventories	536	590	585
Trade receivables	732	823	791
Other current assets	194	134	131
Cash and cash equivalents	483	255	980
Current assets	1,945	1,802	2,487
	2,907	2,857	3,434
Equity and liabilities (in € million)	Dec. 31, 2005	Mar. 31, 2005	Mar. 31, 2006
Shareholder's equity (Beiersdorf AG) excl. minority interests	1,280	1,125	1,727
Minority interests	13	8	7
Equity*	1,293	1,133	1,734
Non-current provisions	430	490	427
Non-current fi nancial liabilities	29	17	26
Other non-current liabilities	8	2	7
Deferred tax liabilities	134	132	131
Non-current liabilities	601	641	591
Current provisions	407	435	516
Trade payables	369	316	369
Current fi nancial liabilities	74	141	60
Other current liabilities	163	191	164
Current liabilities	1,013	1,083	1,109

*before appropriation of net retained profi ts

Cash Flow Statement	Jan. 1 – Mar. 31,	Jan. 1 – Mar. 31,
(in € million)	2005	2006
Cash and cash equivalents as of Jan. 1	290	483
Operating result (EBIT)	145	162
Income taxes paid	-21	-49
Depreciation and amortization	37	31
Change in non-current provisions (excluding interest)	-3	-4
Gross cash fl ow	158	140
Change in inventories	-32	-49
Change in trade receivables and other assets	-168	-72
Change in liabilities and current provisions	67	90
Net cash fl ow from operating activities	25	109
Investments	-28	-24
Proceeds from divestments	3	1
Proceeds from the sale of BSN medical	-	433
Proceeds from interest, dividends, and other fi nancing activities	13	8
Net cash fl ow from investing activities	-12	418
Free cash fl ow	13	527
Change in fi nancial liabilities	-46	-17
Interest and other fi nancing expenses paid	-9	-11
Net cash fl ow from fi nancing activities	-55	-28
Exchange rate fl uctuations and other effects on cash held	7	-2
Net change in cash and cash equivalents	-35	497
Cash and cash equivalents as of Mar. 31	255	980

Statement of Changes in Equity
(in € million)	Jan 1. – Mar. 31, 2005	Jan. 1 – Mar. 31, 2006
Beginning equity	1,033	1,293
Profi t after tax	92	462
Other changes	-8	-12
Currency translation adjustments	16	-9
Ending equity	1,133	1,734

Financial Calendar

Annual General Meeting	May 17, 2006
Dividend Payment	May 18, 2006
Interim Report January to June 2006	August 3, 2006
Interim Report January to September 2006 Financial Analyst Meeting	November 7, 2006
Publication of Preliminary Group Results	January 2007
Publication of Annual Report 2006 Annual Accounts Press Conference Financial Analyst Meeting	February/March 2007
Annual General Meeting	April 26, 2007
Interim Report January to March 2007	May 2007
Interim Report January to June 2007	August 2007
Interim Report January to September 2007 Financial Analyst Meeting	November 2007

Contact Information

Published by: Beiersdorf Aktiengesellschaft, Corporate Identity/Information, Unnastrasse 48, 20245 Hamburg, Germany Telephone: +49 40 4909-0, Telefax: +49 40 4909-3434 Additional Information: Press & PR: Telephone: +49 40 4909-2332, E-mail: Presse_PR@Beiersdorf.com Investor Relations: Telephone: +49 40 4909-5000, E-mail: Investor.Relations@Beiersdorf.com Beiersdorf on the Internet: www.Beiersdorf.com

Printed copies may also be ordered from: Beiersdorf AG, Investor Relations, Unnastrasse 48, 20245 Hamburg, Germany Commercial Register Hamburg HRB 1787

A digital version of this Interim Report is available on the Internet at

Executive Board: Thomas-B. Quaas (Chairman), Peter Kleinschmidt, Pieter Nota, Markus Pinger, Rolf-Dieter Schwalb Supervisory Board Chairman: Dieter Ammer

www.Beiersdorf.com/interim_report.

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