Nivea drives Beiersdorf’s H1 revenue increase as profits dip
Beiersdorf on August 7 reported a 4.8% increase in H1 2024 revenue to 5.18 billion euros ($5.73 billion), with operating profit falling 1.6% to 850 million euros ($934 million). The gross profit margin improved to 59.2%. Revenue growth was 5.6% in Europe to 2.33 billion euros ($2.56 billion), 3.4% in the US to 1.34 billion euros ($1.48 billion), and 4.9% in Africa, Asia, and Australia to 1.5 billion euros ($1.65 billion). By brand, La Prairie saw a 7% decrease in revenue to 272 million euros ($299 million), the only brand to experience a decline. Nivea’s revenue rose by 11% to 2.96 billion euros ($3.24 billion), Eucerin and Aquaphor grew by 8.3% to 710 million euros ($778 million), significantly increasing market share, while Hansaplast and Elastoplast saw a 4% increase to 150 million euros ($165 million).