Beiersdorf : Preliminary Q1 announcement: +6.3% l-f-l with a very significant recovery at Tesa to +23.6%. 2021 guidance unchanged
>Underperform rating maintained - We still think that Beiersdorf is likely to underperform. Indeed, 2020 brought slightly more into focus the limitations of the decision to diversify strategically (adhesives and personal Care) and concentrate operationally on the consumer segment. The overly narrow portfolio (ranges, brands, segments, countries) means the group lacks the structural agility that benefits other players such as L’Oréal.The decent start to 2021 may b...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.
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.
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