Q3 2024 Beiersdorf AG Earnings Call Transcript
Key Points
- Beiersdorf AG (BDRFF) achieved an organic sales increase of 6.5% at the group level in the first nine months of 2024, aligning with their full-year guidance.
- The consumer sales grew by 7.3%, with NIVEA showing impressive growth of 9.4%, outperforming key competitors.
- Derma brands Eucerin and Aquaphor achieved strong organic sales growth of 8.8%, driven by double-digit growth in North America.
- The healthcare business, including Hansaplast and Elastoplast, reported substantial sales growth of 5.1%.
- The company is optimistic about its innovation pipeline, particularly with the upcoming launch of Eucerin Thiamidol in North America, which is expected to drive future growth.
- La Prairie experienced a decline of 7.3% in organic sales, primarily due to the continued weakness in the greater China ecosystem and its impact on the travel retail market.
- The luxury market in China remains challenging, affecting La Prairie's performance, with the market down significantly in the third quarter.
- The automotive industry, particularly in Europe, is facing challenges, impacting the Tesa business segment.
- The sun care segment underperformed in the third quarter, despite a positive start to the year.
- Beiersdorf AG (BDRFF) remains cautious about the short-term outlook for La Prairie, given the ongoing difficulties in the Chinese luxury market.
Ladies and gentlemen, thank you for standing by. Welcome and thank you for joining the Q3 results 2024 conference call of Beiersdorf AG. Throughout today's recorded presentation all participants will be listed on the mode. (Operator Instructions) I would like to turn the conference over to Christopher Sheldon, Head of Investor Relations. Please go ahead
Thank you, Zhasha. Good morning and welcome to Beiersdorf's third quarter conference call. Thank you for joining us at such an early hour. This is Christopher Sheldon and I'm here with our CEO, Vincent Warnery as well as our CFO, Astrid Hermann. We would like to share with you Beiersdorf's sales performance for the first nine months of 2024. We will start with a presentation and the business review followed by a Q&A session.
And with that I'd like to hand over to Vincent.
Thank you Christopher and good
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
