Beiersdorf Forecasts Lower 2026 Net Sales and Margin, Announces Share Buyback

Nivea-maker Beiersdorf said on Monday it would launch a share ​buyback programme of up to 750 million euros ($877 ‌million) over the next two years, and forecast its 2026 core operating margin, excluding special items, slightly below last year’s level.

The ​German consumer goods group forecasts 2026 net sales to ​be flat to slightly growing on an organic ⁠basis, and 2026 earnings before interest and taxes margin ​excluding special factors to come in slightly below 2025. It ​cited raw material cost increases and unfavourable foreign exchange effects.

The group added it expects the first quarter of 2026 to come in below ​the full-year range, citing disruptions in the US retail ​and China travel retail landscape.

Sales rose 2.5 percent organically to 9.9 billion euros ($11.6 billion) ‌in ⁠2025. Full-year operating result excluding special factors came in at 1.38 billion euros ($1.61 billion), slightly up from 1.37 billion euros ($1.60 billion) a year ago.

Sales of Nivea, the company’s flagship skin and body ​care brand, grew ​0.9 percent organically.

“Growth ⁠at Nivea slowed in a challenging mass-market environment. This is why we have initiated ​a focused rebalancing of the Nivea portfolio ​to restore ⁠momentum over time,” CEO Vincent Warnery said in a statement.

The company’s recalibration began in the second half of 2025, ⁠and ​changes to its innovation pipeline and ​marketing spending will continue through 2026 and 2027.

By Anna ​Peverieri

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