Beiersdorf AG

BEI: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€254.00	Vkfqjwp	Zgdt

Beiersdorf Earnings: Slowing Consumer Organic Sales Growth Driven by La Prairie and North America

Diana Radu

Aug 7, 2024

Narrow-moat Beiersdorf delivered first-half 2024 organic sales growth of 7.1% and an operating margin of 16.2%, 110 basis points below the prior year. Organic growth for the consumer segment decelerated substantially in the second quarter in Western Europe and North America, to around flat and negative 5%, respectively. The North American skincare market remained challenging, exacerbated by unfavorable weather conditions weighing on sales for the suncare business. Weakness in Western Europe was mainly attributed to a double-digit decline in travel retail sales for the ultraluxury brand La Prairie.

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