* Q2 sales 1.59 bln eur vs Rtrs poll avg 1.63 bln
* Op profit 219 mln eur vs poll avg 218 mln
* Sees 2013 sales up 5-6 pct, EBIT margin 12-13 pct
* CEO says some clouds on horizon for emerging markets
* Shares down 3.4 percent
(Adds CEO comments on outlook, analyst reaction, updates
By Victoria Bryan
FRANKFURT, Aug 7 Nivea skin cream maker
Beiersdorf AG said it planned to outperform rivals in
2013, predicting sales growth of between 5 and 6 percent as new
shower and anti-ageing products help it gain market share.
Under Chief Executive Stefan Heidenreich, the Hamburg,
northern German-based company has cut back on some areas like
make-up but has brought out new products, such as a moisturiser
that can be used in the shower, a stress-busting deodorant and
an anti-ageing skincare range.
Beiersdorf said these products helped it gain market share
in its consumer business, which brings together brands like
Nivea, La Prairie, Eucerin and Labello, and Heidenreich said on
Wednesday more new product launches would follow in 2014.
Still, he said the group was taking a cautious stance on the
second half year after rivals spoke of slowing emerging markets
and southern Europe remained weak.
In the first half, sales rose 6.6 percent adjusted for
currency effects, but Heidenreich saw some clouds ahead.
"Markets are still sluggish, we see some risk on the horizon for
emerging markets, as indicated by competitors," he told
Rival Unilever Plc last month reported
second-quarter results just shy of forecasts and said growth in
emerging markets was slowing.
Nevertheless, Heidenreich said Beiersdorf was not yet
affected and said hot weather across Europe was helping it sell
suntan lotion as well as deodorants and shower gels.
The outlook for its consumer division, which accounts for 83
percent of sales, disappointed some, however, and its shares,
which trade at a premium to rivals, were down 3.4 percent at
68.10 euros by 1030 GMT. The stock has risen steadily through
the past two years and recently hit a record 73.45 euros.
For its consumer division, Beiersdorf forecast sales growth
of between 5 and 6 percent and said its EBIT margin - earnings
before interest and tax (EBIT) as a percentage of sales - should
exceed 12 percent. The consensus forecast was for sales growth
of above 6 percent and a margin of 13.1 percent.
"Beiersdorf is the most expensive stock in European health
and personal care. While (adhesives unit) Tesa pleased, we think
the stock performance is likely to be hit by the miss in
consumer and the lukewarm outlook for that division," JP Morgan
analysts wrote in a note to clients.
The company trades at around 27 times 12-month forward
earnings, according to Thomson Reuters StarMine, compared with a
multiple of 17 for Henkel, 17 for Reckitt Benckiser
and 24 for L'Oreal.
For the group as a whole, Beiersdorf also said sales will
rise 5 to 6 percent in 2013, adding it was aiming for an EBIT
margin of 12 to 13 percent. On average, analysts in a Reuters
poll had expected sales growth of just over 4 percent and an
EBIT margin of 13.06 percent.
Beiersdorf said second-quarter sales rose 3.7 percent to
1.59 billion euros and earnings before interest and tax (EBIT)
before special items reached 219 million, against expectations
for 1.63 billion and 218 million respectively in a Reuters poll.
($1 = 0.7513 euros)
(Additional reporting by Sudip Kar-Gupta; Editing by Louise
Heavens and David Holmes)