Nivea-maker Beiersdorf downbeat for 2020
BERLIN (Reuters) - Nivea-maker Beiersdorf <BEIG.DE> reported a 20% drop in first-half operating profit on Thursday and predicted a fall in sales and profitability for the full year as both its consumer business and adhesives unit suffer in the coronavirus pandemic.
Beiersdorf said first-half operating profit came in at 472 million euros (426.86 million pounds) on sales down 10% to 3.449 billion euros. Its core brand Nivea saw organic sales drop 8.8%, while the Tesa adhesives unit saw sales fall 10%.
It said sales would fall in both consumer and adhesives unit for 2020 as a whole and it expects its group operating profit margin to be significantly below the prior-year level.
(Reporting by Emma Thomasson, editing by Thomas Escritt)
