BERLIN, March 3 (Xinhua) -- For the fiscal year 2019, nominal sales of Beiersdorf Group rose by 5.8 percent to 7.65 billion euros (8.51 billion U.S. dollars), the German consumer goods company announced on Tuesday.
At the same time, adjusted earnings before interest and taxes (EBIT) declined by 0.5 percent to 1.11 billion euros, according to Beiersdorf.
Due to an "improved effective tax rate and financial result", adjusted profit after tax however increased by 5.1 percent to 795 million euros, Beiersdorf stated.
"We delivered a strong 2019 financial year and high-quality competitive growth," said Stefan De Loecker, chief executive officer (CEO) of Beiersdorf, stressing that the company was "making a decisive contribution to more sustainability."
Organic sales of Beiersdorf's consumer business segment "substantially increased" by 4.8 percent. The divestment of Chinese hair care brand SLEK had been balanced by the positive effect on sales through the acquisition of sunscreen brand Coppertone, the company noted.
Sales of the company's important brand NIVEA increased by 3 percent. The derma brands EUCERIN and AQUAPHOR achieved a growth rate of 7.5 percent, while the selective cosmetics brand LA PRAIRIE again achieved strong sales growth of 20 percent.
For 2020, the company was expecting "stronger headwinds", said De Loecker.
Beiersdorf is forecasting lower organic sales at around 3 to 5 percent but expects EBIT and profit after tax margins to remain at last year's level.
