Beiersdorf's improved margin guidance supports our investment thesis.
Beiersdorf remains on track to meet our full-year forecasts after a solid first-half performance that was in line with our forecasts. We are reiterating our EUR 82 fair value estimate and our narrow moat rating, which is based on the company’s cost advantage over smaller competitors in its core personal-care categories.Organic sales growth of 3.3% in the consumer segment is consistent with other manufacturers, which have reported below-par sales growth in recent quarters. Beiersdorf does not br...
Beiersdorf manufactures and distributes consumer goods. Co. operates in two business segments: consumer, which is Co.'s main business that focuses on the skin and body care markets, with products including NIVEA's Deodorant Invisible for Black & White, NIVEA Deodorant Stress Protect, NIVEA In-Shower Body Lotion, NIVEA Cellular Anti-Age face care, and Eucerin's VOLUME-FILLER; and tesa, which develops, produces, and markets self-adhesive products and system solutions for industry, craft businesses, and consumers. In the electrical industry, the tesa business segment's adhesive systems are used in mobile devices such as smartphones, tablet personal computers, and MP3 players.
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