Beiersdorf’s shares plummeted nearly 10% to €96—a low not seen since November 2022—after the Hamburg-based consumer goods giant slashed its annual sales outlook due to weakening demand in its core skincare business. The DAX-listed stock became the index’s worst performer, with organic growth crashing to 2.1% in H1 2023 from 7.1% a year earlier. Net profit dropped to €561 million, while flagship brand Nivea shrank 0.5% in Q2, raising concerns about stalled innovation. Analysts warn the broader skincare market slowdown spells trouble for the specialty firm.
Innovation Hopes Amid Market Headwinds
Despite cutting its organic growth forecast from 4-6% to 3%, management pins hopes on new products like Nivea Epigenetics Serum to revive fortunes. The adhesives division Tesa also dragged results down with a 3.7% decline. While margins held at 16.1%, Beiersdorf’s stock has lost 22% year-to-date—triple the sector’s decline. Investors remain skeptical despite promises of a "strong innovation pipeline," watching closely for signs of recovery in H2.
