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The new CEO can take care of a well-ordered house, but either site is still open.
of dpa
October 30, 2018, 5:28 pm
updated 12 minutes ago
Hamburg | The maker of Nivea, Beiersdorf, remains on course thanks to the strong demand for luxury cosmetics and sun lotion. "The last nine months have been good for Beiersdorf," outgoing CEO Stefan Heidenreich said on Tuesday. "We have every reason to look at the future of our business with confidence." Heidenreich last presented the company's consumer goods figures. He handed over to his badistant Stefan De Loecker at the end of the year after seven years as head of the group. The 51-year-old Belgian is currently working on the group's strategy, which he plans to put in place in the first quarter of 2019.
Lukas Schulze / dpa
Stefan F. Heidenreich, CEO of Beiersdorf AG / Archives
He was very satisfied with his personal record, said Heidenreich. The market value of the company had doubled during his tenure. However, the group leader admitted one or the other of the imperfections. The Hansaplast plaster brand needs to be brought back on the path of growth, he said.
"Cash register filled"
The sales engine still stutters in wound care. Until now, the relatively small company had to wait with the development of Beiersdorf brands. But he was sure that the team around De Loecker would increase the potential, said Heidenreich.
The subject of acquisitions is still in the room. Perhaps his successor could use the bulky background of the group – the "treasure" – as Heidenreich called it – makes perfect sense. Beiersdorf recently raised 4 billion euros. Heidenreich himself had not been able to take on major redemptions during his tenure. Analysts have repeatedly criticized the lack of pioneering acquisitions.
Beiersdorf / dpa
The consumer goods group Beiersdorf will be led by Stefan De Loecker. He will inherit Stefan Heidenreich on 1 January 2019, as announced by the Dax group.
Beiersdorf's share was one of Dax's losers on Tuesday. Market players, in particular, complained of the group's slow growth in the third quarter. Since the beginning of the year, however, the defensive shares of the consumer goods manufacturer have developed better than those of Dax. Beiersdorf lost 1.54% to 90.61 euros.
Beiersdorf increased its turnover from January to September by 2.3% to 5.4 billion euros. Excluding currency effects and acquisitions and sales, the most was 6%. In the third quarter, however, growth has weakened. This is explained by the unusually high figures of the previous year. After a cyberattack, the turnover of 2017, which was about 35 million euros, had gone from the second to the third quarter. If we exclude this effect, according to Heidenreich, the important care activity would have experienced an organic growth of 5.1%.
Luxury brand popular with Chinese tourists
It was exceptionally good for La Prairie's luxury cosmetics. For jars of cream, which contain among others caviar extract, the consumer sometimes has to pay 1,000 euros. The main buyers are Chinese tourists. In the first nine months, La Prairie sales increased by almost 47%. The brand contributes about 8% of sales in the Consumer care segment during the year. Heidenreich did not want such high growth, so Beiersdorf was more of a mbad business, he said. In the hands of the group also played the summer long, which stimulated the sale of sunscreen.
For the whole year, the group confirmed the forecasts. Sales are expected to increase by approximately 5% and the operating margin (EBIT) will be at the level of the previous year.
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