The German chemical and cosmetic Beiersdorf succeeded in the third quarter to be better than expected by analysts and discern a cyclical rebound advantage to its industry adhesives, according to a statement Tuesday, November 3rd.
The manufacturer of the cream Nivea has posted third quarter net income group share of 98 million euros, down 9.3% a year. Analysts had expected 92 million euros, according to a consensus of Dow Jones Newswires. The turnover has him down 3% to 1.41 billion euros.
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The operating result (EBIT) for the period fell 6.5% to 144 million euros, while analysts expected a much lower result (129 million euros). The group’s activity was driven once again by its cosmetic brands, which have continued to grow in Germany despite the crisis, and have developed in many emerging countries.
But the novelty lies in the evolution of division of Tesa adhesive, highly dependent on industrial demand and for which Beiersdorf discerns a “downturn”, according to his statement.
Now, the group based in Hamburg (north) expects its two divisions’ progress over the market and gain market share “at the annual level. The cosmetics division for 2009 should show an operating margin of approximately 11%, and Tesa “of at least 2%, forecasts more optimistic than those issued this summer.
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Tags: Beiersdorf evokes, cream Nivea, Nivea