Beiersdorf 2017 Revenue Rises on Strong Final Quarter
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Germany's consumer goods company Beiersdorf AG (BEI.XE) said Monday that its revenue for 2017 grew, boosted by a strong fourth quarter.
The company said that organic revenue growth was 7.06 billion euros ($8.5 billion), up 5.7% year-on-year. Organic sales in its consumer business segment were EUR5.8 billion, an increase of 4.7%. Beiersdorf said that organic sales in its tesa business grew by 11%.
Beiersdorf said that it expects the earnings before interest and taxes margin for the group and the consumer business segment to be slightly above the previous-year figures of 15% and 14.8%, respectively.
The company said that due to the absence of one-time profits incurred in 2016, as well as losses from foreign exchange and from financial investments in 2017, that its profit-after-tax margin to be around 10%.
Beiersdorf said that these results are preliminary and that the final business results will be published on March 1.
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(END) Dow Jones Newswires
January 08, 2018 12:05 ET (17:05 GMT)