Beiersdorf continues to invest despite sales decline in Q1 2020
The company recorded a drop in sales in the first quarter of 2020 as a result of the global spread of the COVID-19 pandemic. Organic Group sales fell by 3.6% in the first three months of the year. In nominal terms, Group sales stood at €1,910 million, down 1.9% on the prior-year figure of €1,947 million.
“The global COVID-19 crisis is changing our life and work radically. From the very beginning, we have focused on ensuring the health and safety of our employees, continuing to serve our consumers, and supporting communities in their fight against the coronavirus. As expected, the ongoing COVID-19 pandemic has affected the company’s results for the first quarter. Our selective cosmetics brand “La Prairie” has been particularly hit by the drop in international travel. At the same time, our core brand “Nivea” remained steady with only a slight fall in sales, while our Derma and Healthcare brands achieved strong, double-digit sales growth. Beiersdorf’s foundations are strong enough to enable us to master and overcome this unprecedented crisis together – and emerge from it stronger in the long term. Despite today’s major economic challenges, we will stay on course with our strategy and will maintain investing in our initiatives under C.A.R.E.+,” said Stefan De Loecker, CEO of Beiersdorf AG.