BERLIN (dpa-AFX) - Nivea maker Beiersdorf AG (BDRFY.PK, BDRFF.PK) reported that its underlying profit after tax for fiscal year 2019 increased 5.1% to 795 million euros from 756 million euros last year. Underlying earnings per share grew to 3.42 euros from 3.26 euros in the previous year.
'While the situation of the coronavirus remains dynamic, its impact on our business is not quantifiable yet. We therefore expect stronger headwinds in 2020. But we are optimistic that, with C.A.R.E.+, we have set the right path to follow through on our development potential in the future with targeted measures and a greater willingness to invest,' said Stefan De Loecker, CEO of Beiersdorf.
Underlying earnings before interest and taxes or EBIT for fiscal year 2019 declined to 1.108 billion euros from 1.113 billion euros in the previous year. This was due to additional strategic investments that were announced as part of the C.A.R.E.+ strategy.
In nominal terms, annual sales rose 5.8% to 7.65 billion euros from 7.23 billion euros in the prior year. Organic sales growth was 4.1%.
Looking ahead for fiscal year 2020, the company expects group organic sales growth to be around 3% - 5%. It projects the consolidated underlying EBIT and underlying profit after tax margins to remain on last year's level.
In the Consumer Business Segment, the company expects organic sales growth of 3% -5% in fiscal year 2020. The underlying EBIT margin is expected to be in the range of 14.0%-14.5%.
In the tesa Business Segment, the company anticipates slightly positive organic sales growth in 2020. The underlying EBIT margin is expected to remain on last year's level.
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