Nivea drives growth, Beiersdorf tops €2.6 billion in Q1 sales

Beiersdorf is off to a strong start in 2024 as it reports strong sales in the first quarter. Sales at the brand owner rose 7.3% to 2.6 billion euros, driven by growth in the consumer business unit.

Nivea performed well, with sales in the first quarter increasing by 12.6% year-on-year. Beiersdorf said the skin-care brand benefited from balanced pricing and volume growth during the quarter. Strong consumer demand for Nivea's sun protection, deodorant and facial care categories, as well as its Luminous range, also contributed to the sales growth.

Vincent Warnery, CEO of Beiersdorf, said:"Nivea’s strong double-digit growth drove our portfolio, with sales increasing everywhere, particularly in Europe and emerging markets. Nivea also delivered its best quarter ever in terms of absolute value in the first quarter. This underlines the enduring popularity of our icons around the world."

Beiersdorf's skin brands Eucerin and Aquaphor also posted double-digit growth of 10.2% in the quarter. Eucerin's sun care business performed particularly well in Europe and also benefited from its entry into the U.S. facial care market.

La Prairie returned to growth in the first quarter, with sales up 1%, as the French skin-care brand continued to recover from lingering "external market challenges" last year. The brand's organic sales fell 15.4% in 2023 due to difficulties in travel retail and mainland China.

Beiersdorf expects sales to improve further in the second half of the year."At the same time, our Derma business contributed solid double-digit growth, while the Luxury business is moving towards the expected full turnaround after a challenging 2023. The level of performance in the first quarter reinforces our continued desire for profitable growth, and as a result we are raising our full-year sales guidance." Positive first-quarter results prompted Beiersdorf to raise its full-year 2024 guidance and forecast organic sales growth of 6% to 8%.