Nivea maker Beiersdorf says hit profit targets in 2012

24th January 2013, Comments 0 comments

German cosmetics group Beiersdorf, maker of Nivea hand cream, said Thursday it was satisfied with business in 2012 when it met both its sales and earnings targets.

"On the whole, we are satisfied with 2012. We can see that we are on the right track," said chief executive Stefan Heidenreich.

Beiersdorf, which also makes Tesa sticky tape and adhesives, said it achieved "consistent growth in 2012," with sales rising by 7.2 percent to 6.04 billion euros ($8.05 billion).

In so-called "organic" terms, which irons out the effects of exchange rates and other factors, sales increased by 4.7 percent, the group calculated.

That is in line with a forecast announced back in December for organic sales growth of "well over" four percent.

Sales increased in all divisions and the group's operating margin -- which measures operating profit as a proportion of sales -- was also in line with Beiersdorf's target of "around 12 percent."

Beiersdorf said it would publish full details of its 2012 results on March 5.

© 2013 AFP

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