German personal-care products company Beiersdorf is back on track with growth in the first half of the year.
BERLIN (Reuters) -Nivea maker Beiersdorf's sales rose above pre-pandemic levels as demand for adhesives and its dermatological brands roared back, pushing the shares up by more than 5% in early trade on Thursday. Organic sales jumped 28.3% in the second quarter to deliver growth for the first half of 16.2%, achieving 3.87 billion euros revenue, a tad above the consensus estimate of 3.82 billion according to Refinitiv IBES data and the 2019 first-half figure of 3.84 billion euros. Beiersdorf's shares were up 5.5% at 0735 GMT, having earlier hit their highest level since early 2020.
German consumer goods firm Beiersdorf reported a recovery for its Nivea skin cream on Wednesday as well as strong sales for other skincare brands and its adhesives unit after the coronavirus pandemic caused a revenue drop in the first half. Sales for the first nine months came in at 5.7 billion euros ($6.74 billion), the Hamburg-based company said, a decline of 7.1% after stripping out the impact of acquisitions and currency movements, although third-quarter organic growth was 0.2%. Beiersdorf shares were down 3.62% at 0841 GMT, slightly underperforming a 3.27% weaker German blue-chip index.