Beiersdorf hikes sales, profit margin targets for 2013
FRANKFURT Nov 4 (Reuters) - Beiersdorf, the maker of Nivea creams and lotions, said it was upgrading its sales and profit outlook for the year after reporting a 7 percent increase in nine-month sales.
The group said it now expected sales in 2013 to rise by 6-7 percent, compared with a previous forecast for 5-6 percent.
Its EBIT margin - earnings before interest and tax as a percentage of sales - should reach 13 percent this year, at the top end of a previously announced range of 12-13 percent, it said.
It confirmed the EBIT margin in its main Consumer Business segment would be above 12 percent this year, and said the adhesives division, Tesa, would now reach a margin of 16 percent, up from a previous 14 pct.
Under Chief Executive Stefan Heidenreich, Beiersdorf has been cutting unprofitable ranges and focusing on bringing out new products, like an in-shower moisturiser and a new anti-ageing range.