Buoyed by strong growth during its third quarter, Beiersdorf has upped its 2022 organic sales growth forecast from 9 per cent to 10 per cent.
The strong performance in Q3 pushed the German multinational’s revenues to 6.7 billion euros (AUD$10.38 billion) for the first nine months of the year.
Power brand Nivea was on a tear from January to September with growth of 10.8 per cent, gaining market share in all geographic regions, notably China and India.
Derm brands, Eucerin and Aquaphor, also surged strongly over the first three quarters with organic growth of 25.3 per cent.
La Prairie rebounded strongly from lockdown restrictions, especially in China, and in travel retail to enjoy an 5.5 per cent increase in sales over the same period.
We retained the strong growth dynamic of the first half of the year in the third quarter and achieved broad-based, double digit growth rates, said Vincent Warnery, CEO of Beiersdorf.
“We are increasingly reaping the rewards of our actions to make Nivea an even more global and digital brand. For the first time, our brand icon has succeeded in gaining market share in all categories and regions.”
Unilever also outperformed analysts’ expectations during its third quarter. Underlying sales growth rose 10.6 per cent in Q3 to reach 10.6 billion euros (AUD$16.42 billion), fueling a turnover of 45.6 billion euros (AUD$70.63 billion) for the first nine months of the year.
Beauty and well-being, led by mega-brands Dove, Vaseline and Sunsilk, saw sales rise 6.7 per cent, mainly in skincare and haircare.
Unilever’s Prestige Beauty division delivered double digit growth, accelerated by a sustained rise in sales from Paula’s Choice and Living Proof.
Haircare, backed by Sunsilk and Clear, also enjoyed strong improvement.
Deodorants were a standout with Rexona, Dove and Axe all enjoying double digit growth.
The multinational’s Q3 performance was the first under its new corporate structure. Beginning on July 1st, Unilever divided its business into five major divisions for a more category-focused future.
Like Beiersdorf, Unilever raised its full year 2022 guidance following the third quarter results. Underlying sales growth is now expected to be above 8 per cent – up from the previous 4-5 per cent to 6.5 per cent.
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