Report
Fabian Semon ...
  • Pierre Tegner

Beiersdorf : Pas de warning sur 2021. T3 à +4.3% en lfl, un peu plus modeste qu’attendu

>Pas de warning sur la marge et guidances maintenues mais plus précises - Neutre maintenu avec un OC de 90 €. Alors que la sous-performance du titre depuis mi-septembre a été alimentée par des craintes de rebasement des marges sur 2021 (nouveau CEO et inflation), cette publication n’apporte pas le warning attendu et le management précise sa guidance 2021. Le groupe table désormais sur une croissance organique de 8% à 10% pour le groupe (7% à 9% en Consumer et 11% à 13...
Underlying
Beiersdorf AG

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Fabian Semon

Pierre Tegner

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