Beiersdorf Gives Solid Outlook But Coronavirus Impact Unsure

Nivea maker Beiersdorf on Tuesday said it expected similar sales growth and profitability in 2020 compared to 2019, although it cautioned that it could not yet assess the impact of coronavirus on its business.

The German firm forecast organic sales growth of 3-5% for 2020 after 4.1% in 2019, with its consumer unit predicting growth at the same level, while the Tesa adhesives unit would probably only manage slightly positive growth.

Beiersdorf said the outlook did not include any impact from the coronavirus in China. The company makes almost a third of its sales in the Africa/Asia/Australia region, where sales for its consumer unit jumped 8.4% in 2019.

ESM