Beiersdorf AG

Earnings Release • Apr 15, 2025

Press Release

Positive start to the year: Beiersdorf confirms full year guidance

• Group: Sales increase to €2.7 billion (+3.6% in organic terms)
• Consumer Business Segment: Sales reach €2.3 billion (+2.3% in organic terms) against strong prior-year baseline
• Growth for NIVEA +2.5%, Derma +11.4%, Health Care +10.8%; La Prairie –17.5%
• tesa Business Segment: Strong sales growth to €441 million (+10.7% in organic terms)
• Guidance for 2025 confirmed: Organic sales growth of 4-6% expected for the Group and the Consumer Business Segment

Hamburg, April 15, 2025 – Beiersdorf continued its growth story with a positive start to the fiscal year 2025 following strong performance in 2024. Group sales reached €2.7 billion in the first quarter, representing organic growth of 3.6%. The Consumer Business Segment generated sales of €2.3 billion and organic sales growth of 2.3%. This was particularly driven by the success of the Derma business. The tesa Business Segment recorded organic sales growth of 10.7% year-on-year, generating sales of €441 million.

Vincent Warnery, CEO of Beiersdorf: "In a continuously dynamic market environment, Beiersdorf's positive performance in the first quarter of 2025 was fully in line with our expectations. It was driven by our ongoing commitment to expanding into white spaces and delivering breakthrough innovations. In addition, we are putting our house in order in China to set the foundation for future growth. Excluding the effects of our proactive measures in this key market, our Consumer quarterly performance was within our guidance. Furthermore, tesa got off to a strong start due to its high-performing electronics business and the low first quarter of 2024. As we look ahead into this year, we confirm our guidance for 2025 to deliver sustainable growth."

Consumer: Innovation fuels Derma growth

In the first quarter of 2025, the core brand NIVEA grew organically by 2.5%. Performance was marked by two main influencing factors: A tough comparison base with growth of 12.6% in the first quarter of 2024 and a strategic repositioning in China, with the aim of focusing on premium products, skin care and e-commerce. At the same time, NIVEA achieved outstanding double-digit sales growth in North America and strong performance in the skin care categories globally.

The Eucerin and Aquaphor Derma brands delivered organic sales growth of 11.4%. A key driver of this result was the double-digit sales growth in Emerging Markets due to the launch of Beiersdorf's breakthrough innovation Epicelline® in more than 15 countries in the region and the further expansion into white spaces. The Derma business generated double-digit growth in North America again, where – only one year after the successful launch of Eucerin Face in the USA – Eucerin hit the shelves with five new Thiamidol-based products.

The La Prairie luxury brand saw a sales decline of 17.5% from January to March against a stronger prioryear baseline. In a challenging market environment in China, the brand faced persistent headwinds in the travel retail business. Beiersdorf responded to this with a significant reduction of stock levels during the first quarter, especially in Hainan. The e-commerce business, however, one of Beiersdorf's focus areas going forward, delivered positive results with very strong double-digit growth of 24% in China in the first three months of the year. Chantecaille accelerated as expected, with remarkable performance of 15.9% organic sales growth. This was driven by the roll-out in mainland China and the successful expansion across Asia.

The Health Care business, which mainly comprises the Hansaplast and Elastoplast plaster business, delivered organic sales growth of 10.8%. The breakthrough innovation of the Second Skin Protection plaster, launched at the beginning of the year, has already made a positive contribution to this performance.

tesa on track

In line with expectations, the tesa Business Segment recorded a notable double-digit growth-rate of 10.7%, primarily driven by the strong performance of the electronics business. This performance was influenced by a low prior-year comparison base from January to March, as well as phasing effects related to the transition of manufacturing from China to India in the electronics industry. At the same time, the automotive market is currently facing challenges, particularly in Europe.

Guidance for 2025 confirmed

While the first quarter results are fully in line with the company's expectations, predicting the impact of ongoing uncertainties in the global economy on consumer confidence and business operations remains challenging, particularly in the short term. Beiersdorf remains vigilant and committed to adapting its strategies to mitigate these challenges while continuing to focus on sustainable growth.

Beiersdorf maintains its expectation of 4-6% organic sales growth for the Consumer Business Segment for full year 2025. The company confirms the guidance for the EBIT margin (excluding special factors) in the Consumer Business Segment of 50bps above last year's level.

For the tesa Business Segment, Beiersdorf underlines its guidance for organic sales growth of 1-3%, with the development of the automotive sector playing a key role as regards reaching the upper or lower end of this range. The EBIT margin (excluding special factors) is expected to be around 16%.

Overall, Beiersdorf expects Group organic sales growth in the range of 4-6% for the fiscal year 2025. The Group's EBIT margin (excluding special factors) is projected to be slightly above the previous year's level.

Q1 2025 sales figures at a glance

Group sales

(In € million)

			Development (in %)
	Jan. 1 – March 31, 2024	Jan. 1 – March 31, 2025	nominal	organic
Europe	1,176	1,198	1.8	1.3
Americas	685	684	-0.1	3.5
Africa/Asia/Australia	743	809	9.0	7.4
Total	2,604	2,691	3.3	3.6

Consumer sales

(In € million)

		Jan. 1 – March 31, 2025	Development (in %)
	Jan. 1 – March 31, 2024		nominal	organic
Europe	972	995	2.3	1.7
Western Europe	768	788	2.6	2.1
Eastern Europe	204	207	0.9	0.3
Americas	615	614	-0.2	3.7
North America	279	294	5.2	3.0
Latin America	336	320	-4.7	4.3
Africa/Asia/Australia	620	641	3.5	1.9
Total	2,207	2,250	1.9	2.3

tesa sales

(In € million)

			Development (in %)
	Jan. 1 – March 31, 2024	Jan. 1 – March 31, 2025	nominal	organic
Europe	204	203	-0.7	-0.7
Americas	70	70	0.9	2.0
Africa/Asia/Australia	123	168	36.7	34.4
Total	397	441	11.2	10.7

Consumer brands sales

(In € million)

			Development (in %)
	Jan. 1 – March 31, 2024	Jan. 1 – March 31, 2025	nominal	organic
NIVEA	1,462	1,482	1.3	2.5
Derma	393	443	12.5	11.4
Health Care	76	83	9.6	10.8
La Prairie	158	132	-16.4	-17.5

About Beiersdorf AG

Beiersdorf has stood for innovative skin care and pioneering skin research for over 140 years. The company headquartered in Hamburg, Germany, employes more than 22,000 people worldwide. In the fiscal year 2024 Beiersdorf generated sales of €9.9 billion and an operating result (EBIT excluding special factors) of €1.4 billion. Leading international brands such as NIVEA (the world's no. 1 skin care brand*), Eucerin, La Prairie, and Hansaplast are cherished by millions of people around the world every day. Renowned brands such as Aquaphor, Coppertone, and Chantecaille complement the extensive portfolio in the Consumer Business Segment. Through its wholly owned subsidiary tesa SE, Beiersdorf is a globally leading manufacturer of technical adhesive tapes and provides selfadhesive solutions to industry, craft businesses, and consumers. Guided by the purpose 'Care Beyond Skin', Beiersdorf pursues an ambitious sustainability agenda with the target to achieve Net Zero emissions by 2045 and aims to champion a more inclusive society.

Additional information can be found at www.beiersdorf.com.

* Source: Euromonitor International Limited; NIVEA by umbrella brand name in the categories Body Care, Face Care and Hand Care; in retail value terms, 2024

Contact

Corporate Communications Investor Relations Anke Schmidt Christopher Sheldon Tel.: +49 40 4909- 2001 Tel.: +49 40 4909-5000

E-mail: cc@beiersdorf.com E-mail: investor.relations@beiersdorf.com