Beiersdorf Ag · XETR:BEI
Beiersdorf — H1 2026 Earnings Presentation
32 slides from Beiersdorf's earnings presentation, Aug 5, 2026
Slide 1: H1 2026 Financials
f Hamburg, August 5, 2026 Astrid Hermann, Vincent Hera TY =o
Slide 2: Multi-year outperformance continues
MULTI-YEAR DERMA LA PRAIRIE IMPROVING WITH SOLID OUTPERFORMANCE CONTINUES UNDERLYING FUNDAMENTALS NEXT PHASE OF REBALANCING RETURN TO PROFITABLE GROWTH DECISIVE NIVEA TURNAROUND PLAN STARTING FROM 2028
Slide 3: Eucerin
Eucerin ——
Slide 4: Derma continues multi-year outperformance
DERMA CONTINUES MULTI-YEAR OUTPERFORMANCE organic sales growth
Slide 5: Derma outperforming across regions
DERMA OUTPERFORMING ACROSS REGIONS CHINA BRAZIL US FACE organic sales growth, Q2 2026
Slide 6: Next chapter Aquaphor body care launch
NEXT CHAPTER AQUAPHOR BODY CARE LAUNCH
Slide 7: Aquaphor body launch
Eucerin Aquaphor AQUAPHOR BODY LAUNCH STRONG H2 ROLL-OUT PLAN Walmart >;<
Slide 8: Foam cleans
FOAM CLEANS! TOYANT Mi L ORAIRIE TZE LAND LA PRAIRIE VA ( LAPRAIRIS =. a
Slide 9: La Prairie gaining
Y LAPRAIRIE ‘SWITZERLAND LA PRAIRIE GAINING CHINA CONTINUES Tt
Slide 10: La Prairie strong plans for H2
WY LAPRAIRIE Beiersdorf STRONG PLANS FOR H2 NEW ENTRY LINE
Slide 11: Health care strong H1 driven by innovation
HEALTH CARE STRONG H1 DRIVEN BY INNOVATION
Slide 12: External headwinds and core portfolio
EU TRADE CONFLICTS EU SUN SEASON PHASING INNOVATION PHASING & DESTOCKING MIDDLE EAST CONFLICT CORE PORTFOLIO organic sales growth, NIVEA incl. Labello
Slide 13: NIVEA rebalancing phase one
NIVEA REBALANCING PHASE ONE FACE + BODY, ACCESSIBLE LOCALIZATION DEO FACE CARE WITHIN A FRAME
Slide 14: Global Europe emerging markets
GLOBAL EUROPE EMERGING MARKETS Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2025 2026 2025 2026 2025 2026
Slide 15: Reignite growth through innovation
REIGNITE GROWTH THROUGH INNOVATION ACROSS ALL CATEGORIES FOCUS ON ACCESSIBILITY AND PENETRATION FULLY LEVERAGE NIVEA’S LOCAL RELEVANCE STEP UP HIGH-IMPACT CONSUMER-FACING INVESTMENTS
Slide 16: Face body deo
FACE BODY FACE, BODY, DEO DEO SHOWER PREMIUM FACE SUN LIP MEN
Slide 17: Focus on accessibility and penetration
Beiersdorf FOCUS wt ACCESSIBILITY AND PENETRATION f F HIGH MID LOW
Slide 18: Launch calendar
EU Q1 ‘27 LAUNCH CLASSICS RANGE EU JUL’26 LAUNCH FACE+ RANGE INDIA JUN’26 ASEAN LAUNCH AUG’26 SOFT GEL RELAUNCH EM EVEN TONE Q1-Q2 ‘26 LAUNCH SKIN GLOW EM EM APR’26 LAUNCH OIL CONTROL Q3’26 JUL’26 LAUNCH VITAMIN C LAUNCH COCOA
Slide 19: Step up consumer facing investments
ww wives STEP UP CONSUM FACING INV Beiersdorf ESTM ENTS + €100M
Slide 20: Organic sales growth, NIVEA incl. Labello
organic sales growth, NIVEA incl. Labello
Slide 21: H1 2026 financials
Slide 22: Segments key figures
SEGMENTS KEY FIGURES H1 2025 H1 2026 CHANGE (IN € MILLION) NOMINAL ORGANIC CONSUMER SALES 4,330 4,113 -5.0% -4.0% EBIT 691 632 EBIT MARGIN 16.0% 15.4% TESA SALES 858 839 -2.1% -0.9% EBIT 145 136 EBIT MARGIN 16.9% 16.2% EBIT and EBIT margin excluding special factors
Slide 23: Consumer regions
Slide 24: Gross profit bridge
-100 bps 62.0 0.1 -0.5 0.0 -0.6 61.0 H1 2025 PRICE COST MIX FX H1 2026 Gross profit as a percentage of sales
Slide 25: Group income statement
GROUP INCOME STATEMENT ORGANIC ORGANIC H1 2025 GROWTH/ H1 2026 GROWTH/ (IN € MILLION) % OF SALES % OF SALES SALES 5,188 2.1% 4,952 -3.5% COST OF GOODS SOLD -2,108 - -2,064 - GROSS PROFIT 3,080 59.4% 2,888 58.3% MARKETING AND SELLING EXPENSES -1,772 34.2% -1,724 34.8% RESEARCH AND DEVELOPMENT EXPENSE
Slide 26: Gross margin drivers
Slide 27: Challenging H2 2026 ahead
CHALLENGING H2 2026 AHEAD CONTINUED CRISIS IN THE NIVEA SLOW MARKET MIDDLE EAST TURNAROUND
Slide 28: 2026 consumer EBIT headwinds
2026 CONSUMER EBIT HEADWINDS EBIT IMPACT COST / FX PRICE MIX CONSUMER FACING INVESTMENTS EFFICIENCY MEASURES EBIT MARGIN ~ -250 bps
Slide 29: Guidance 2026
GUIDANCE 2026 CONSUMER 2025 data for reference: Consumer EBIT margin* 13.6% Low-single digit organic net sales decline tesa EBIT margin* 16.1% Group EBIT margin* 14.0% EBIT margin* of at least 11.0% TESA Net sales flat to slightly growing organically EBIT margin* slightly below previous year GROUP L
Slide 30: Midterm outlook
MIDTERM OUTLOOK NET SALES GROWTH ABOVE MARKET PROFITABLE GROWTH IMPROVED CASH CONVERSION
Slide 31: Midterm outlook
MIDTERM OUTLOOK GROWTH VIA M&A IMPROVED CASH RETURN TO SHAREHOLDERS
Slide 32: Thank you