Beiersdorf reports challenging Q1 FY26 as sales decline to USD 2.9B
Alongside a 4.6% organic sales reduction, the company met expectations despite a tough market launch.
GERMANY – Beiersdorf AG has announced first-quarter 2026 results showing group net sales of €2,484 million (USD 2.92 billion), a 7.7% nominal decrease from €2,691 million (USD 3.15 billion) in Q1 2025.
The consumer division posted net sales of €2,077 million (USD 2.43 billion), down 7.7% nominally and 4.7% organically, with Nivea (including Labello) facing a 7.0% organic drop.
This performance comes amid unfavourable prior-year comparisons, trade conflicts, and mass-market pressures, though sell-out dynamics improved to +1.7% year-to-date through February, up from prior quarters’ softer trends.
Derma stood out with 8.2% organic growth in high single digits, boosting the broader healthcare category by 1.9%, driven by Eucerin and Aquaphor innovations that gained +87% in China, over 2x in Brazil, and +7.0% in North America.
La Prairie’s luxury segment suffered a pronounced 14.9% organic sales decline due to retail disruptions, though net sales excluding these issues showed underlying strength of +9 % and positive sell-out trends.
Tesa’s industrial adhesives unit mirrored the group trend, with net sales at €407 million (USD 477 million), down 7.7% nominally (4.3% organically), reflecting automotive outperformance in a declining market, electronics’ high prior-year base, and robust consumer e-commerce.
Vincent Warnery, CEO of Beiersdorf, said, “The quarter was impacted by a high prior-year comparison base, temporary disruptions in key markets, and delayed effects from recent innovations.”
“These factors are not expected to persist throughout the year, and Q1 should not be seen as an indicator for the full-year performance. We reaffirm our guidance for the full year.”
For full-year 2026 guidance (versus 2025 adjusted benchmarks of 13.6% consumer EBIT margin, 16.1% Tesa, and 14.0% group), Beiersdorf anticipates flat to slightly growing organic net sales across consumer, Tesa, and group levels, with EBIT margins slightly below prior year, reaffirming strategic priorities amid Nivea’s rebalancing toward face care, body care, and deodorants.
Regionally, Europe sales fell 7.2% to €1.11 billion (USD 1.30 billion), Americas dropped 8% to €630 million (USD 738 million), a 3.5% organic decline, and Africa/Asia/Australia declined 8.1% to €744 million (USD 871 million).
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