(RTTNews) - Nivea maker Beiersdorf AG (BDRFY.PK, BDRFF.PK) reported Thursday that its first-half earnings before interest and taxes and special factors or adjusted EBIT was 472 million euros, lower than last year's 593 million euros.
The EBIT margin excluding special factors was 13.7 percent, down from 15.4 percent in the year-ago period.
Sales for the half year declined 10.1 percent in nominal terms to 3.45 billion euros from 3.84 billion euros last year, as a result of the continued global spread of the COVID-19 pandemic. Organic Group sales fell 10.7 percent.
Consumer business segment sales decreased 9.9 percent, and tesa sales declined 11 percent.
Looking ahead to fiscal 2020, Beiersdorf projects sales growth in both business segments as well as on group level to be negative and Group EBIT margin to be significantly below prior-year level.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
