Beiersdorf : Q2 and H1 clearly ahead of expectations. But guidance unchanged
>Q2 organic growth well ahead of expectations - Q2 sales (€ 2,261m up +17.2% vs consensus +10.4%) came in clearly ahead of expectations with organic growth of +10.7% (consensus +6.1%) with: +11.8% in consumer vs consensus at +7.3%+5.7% for Tesa vs consensus at +1.1%The management had indicated at the CMD that it expected organic growth at the upper end of the full-year guidance range (mid-single digit). At 11.8% it is much stronger and on first analysis...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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