Beiersdorf Ag · XETR:BEI
Beiersdorf — H1 2024 Earnings Presentation
40 slides from Beiersdorf's earnings presentation, Aug 7, 2024
Slide 1: H1 Results 2024
H1 RESULTS 2024 Hamburg, August 7, 2024 Astrid Hermann, Vincent Warnery
Slide 2: Strong first half, outperforming the market, guidance confirmed
STRONG OUTPERFORMING FY GUIDANCE BREAKTHROUGH FIRST HALF THE MARKET CONFIRMED INNOVATION
Slide 3: Beiersdorf outperforms in challenging markets
FINANCIAL HIGHLIGHTS H1 2024 BEIERSDORF OUTPERFORMS IN CHALLENGING MARKETS Consumer tesa Group H1 +8.0% +2.9% +7.1% Organic sales growth Page 3 3 August Page 7, 2024 April 16th, | Beiersdorf 2024 | H1| Q1 | Beiersdorf Results 2024 Results 2024
Slide 4: Leading growth in the beauty industry
KEY FIGURES H1 LEADING GROWTH IN THE BEAUTY INDUSTRY 8.0% 5-6% Consumer Market Page 4 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 5: On track to deliver full year guidance
KEY FIGURES H1 ON TRACK TO DELIVER FULL YEAR GUIDANCE Consumer +11.1% +8.3% +4.0% -7.0% NIVEA DERMA HEALTHCARE LA PRAIRIE +8.0% +2.9% H1 2024 Group +7.1% Page 5 August 7, 2024 | Beiersdorf | H1 Results 2024 Organic sales growth; NIVEA includes Labello
Slide 6: EU and EM engines of growth
REGIONAL EXPOSURE EU AND EM ENGINES OF GROWTH EU +8.7% EM +15.4% Page 6 6 August 7, 2024 | Beiersdorf | H1 Results 2024 Page EU excl. La Prairie Travel Retail
Slide 7: E-commerce double-digit growth
REVIEW H1 2024 E-COMMERCE DOUBLE-DIGIT GROWTH +16% +88bps E-Commerce Share Page 7 August 7, 2024 | Beiersdorf | H1 Results 2024 Sales development on an organic basis
Slide 8: NIVEA & Eucerin Sun double-digit growth
REVIEW H1 2024 – SUN DOUBLE-DIGIT GROWTH NIVEA & EUCERIN SUN Page 8 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 9: Strong growth in our biggest country
REVIEW H1 2024 STRONG GROWTH IN OUR BIGGEST COUNTRY +9% +8% NIVEA H1 Derma H1 Page 9 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 10: Impressive gross margin expansion across regions
KEY FIGURES H1 IMPRESSIVE GM EXPANSION ACROSS REGIONS +110 bps 60.1% 61.2% H1 2023 H1 2024 Page 10 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 11: NIVEA continued stellar performance
REVIEW H1 2024 - NIVEA NIVEA CONTINUED STELLAR PERFORMANCE Sales Growth H1+11.7% Excl. Arg 50% Price 50% Volume Page 11 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 12: NIVEA broad-based growth across key regions
REVIEW H1 2024 - NIVEA BROAD-BASED GROWTH ACROSS KEY REGIONS +13% +9% Eastern +3% North Europe Europe America +9% North East Asia +13% +17% LATAM AAA excl. Arg Page 12 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 13: NIVEA strong performance across categories
REVIEW H1 2024 - NIVEA STRONG PERFORMANCE ACROSS CATEGORIES DEO +19% Luminous630 +49% H1 BODY +12% FACE CARE +12% Page 13 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 14: NIVEA acceleration in Japan
REVIEW H1 2024 - NIVEA ACCELERATION IN JAPAN DOUBLE-DIGIT GROWTH LIP SUN +47% H1 +12% +10% Page 14 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 15: India in focus
WIN WITH CARE CONQUERING WHITE SPOTS INDIA IN FOCUS 2 LEVERAGE 1 TRUST SEIZE THE POTENTIAL FACE Q1 PRESENT IN 2025 3 40% LAUNCH OF OF THE MARKET NIVEA FACE Page 15 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 16: NIVEA Body relaunch
WIN WITH CARE WITH 100 % PURE SUSTAINABLE PRODUCT TRANSFORMATION HYALURON NEW & NIVEA BODY RELAUNCH IMPROVED FORMULA FOR BODY MILK VIA NEW PACKAGING HELP TO REDUCE CO2e IMPACT BY ~ 5,000 TONS BY 2025 ROAD TO NET ZERO 2045 Page 16 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 17: Luminous success continues with regional expansion
REVIEW H1 2024 - NIVEA LUMINOUS SUCCESS CONTINUES WITH REGIONAL EXPANSION AWAITING REGISTRATION FOR INDIA 2025 LAUNCH WITH GLOBAL EXTENSIONS CHINA DOMESTIC LAUNCH AFFORDABLE RANGE LUMINOUS630 Page 17 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 18: Derma continued double-digit growth
REVIEW H1 2024 – DERMA CONTINUED DOUBLE-DIGIT GROWTH DERMA +10.0% excl. Arg Page 18 August 7, 2024 | Beiersdorf | H1 Results 2024 Sales development on an organic basis
Slide 19: Continued success in emerging markets
REVIEW H1 2024 – DERMA CONTINUED SUCCESS IN EMERGING MARKETS Mexico Derma +12% +18% Brazil +49% excl. Arg Thailand +18% Page 19 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 20: Launch of Epicelline
WIN WITH CARE INNOVATION IN FOCUS LAUNCH OF EPICELLINE Thiamidol Epigenetics NET-SALES FORECAST FIRST 12M Page 20 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 21: Unlock the potential
WIN WITH CARE INNOVATION IN FOCUS UNLOCK THE POTENTIAL 2025 Q4 2024 THIAMIDOL LAUNCH BRAND LAUNCH Page 22 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 22: La Prairie outperforming in challenging markets
REVIEW H1 2024 - LUXURY OUTPERFORMING IN CHALLENGING MARKETS LA PRAIRIE China TR Hainan China E-Com 17% -6% -12% -15% -13% -34% Market La Prairie Market La Prairie Market La Prairie Page 23 August 7, 2024 | Beiersdorf | H1 Results 2024 Sell-Out vs. Market
Slide 23: La Prairie raising the bar
WIN WITH CARE - LUXURY RAISING THE BAR LA PRAIRIE Page 24 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 24: Chantecaille positive momentum continues
REVIEW H1 2024 - CHANTECAILLE THE POSITIVE MOMENTUM CONTINUES +4.4% H1 +4.8% +4.0% Q1 Q2 Page 25 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 25: China expansion kick-off
WIN WITH CARE - LUXURY CHINA EXPANSION KICK-OFF Page 26 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 26: Outperform competition, pioneering innovations, scale up white spots
OUTPERFORM PIONEERING SCALE UP COMPETITION INNOVATIONS WHITE SPOTS
Slide 27: H1 2024 Financials
H1 2024 FINANCIALS Page 28 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 28: Group key figures H1 2024
KEY FIGURES H1 2024 GROUP 2023 2024 January – June January – June Change in € million in € million Nominal Organic Sales 4,936 5,175 +4.8% +7.1% EBIT 852 838 Profit after tax 589 590 EBIT margin 17.3% 16.2% Profit after tax margin 11.9% 11.4% Earnings per share in € 2.56 2.57 (excluding special fact
Slide 29: Segments key figures H1 2024
KEY FIGURES H1 2024 SEGMENTS 2023 2024 January – June January – June Change Consumer in € million in € million Nominal Organic Sales 4,108 4,331 +5.4% +8.0% EBIT 700 688 EBIT margin 17.0% 15.9% tesa Sales 828 844 +2.0% +2.9% EBIT 152 150 EBIT margin 18.4% 17.8% (excluding special factors) Page 30 Au
Slide 30: Consumer organic sales growth
KEY FIGURES H1 2024 CONSUMER Organic Sales Growth +12.5 +10.0 +8.0 +6.1 FY 2023 Q1 2024 Q2 2024 H1 2024 Organic sales growth in % Page 31 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 31: Consumer regions
KEY FIGURES H1 2024 CONSUMER REGIONS Organic Sales Growth Europe +6.8% Eastern 1,930 North America Western Europe Europe -1.8% +13.8% 533 +5.1% Americas 403 1,527 +4.1% 1,203 Latin America Africa, Asia & +9.3% Australia 670 +13.9% 1,279 Page 32 August 7, 2024 | Beiersdorf | H1 Results 2024 Organic s
Slide 32: Consumer gross margin
KEY FIGURES H1 2024 – CONSUMER CONSUMER GROSS MARGIN as % of sales -0.7 61.2 0.1 1.7 60.1 H1 2023 PRICE COSTS OF SALES, MIX H1 2024 LOGISTICS & OTHER @FX avg. 2023 Page 33 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 33: Consumer marketing spend
KEY FIGURES H1 2024 – CONSUMER CONSUMER MARKETING SPEND as % of sales 25.9 0.1 1.9 23.9 Digital +1.5pp Traditional +0.4pp H1 2023 WORKING MEDIA OTHER H1 2024 @FX avg. 2023 Page 34 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 34: Profitable growth: Consumer EBIT margin
KEY FIGURES H1 2024 – CONSUMER PROFITABLE GROWTH EBIT Margin Consumer (excl. special factors) + 50bps 17.0% 15.9% 12.9% 8.3% H1 23 H2 23 FY 23 H1 24 H2 24 FY 24 Page 35 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 35: Consumer working capital
KEY FIGURES H1 2024 – CONSUMER CONSUMER WORKING CAPITAL 4.7 5.1 6.1 5.8 5.6% H1 22 FY 22 H1 23 FY 23 H1 2024 2024 figures @FX avg. 2023 excl. Argentina Page 36 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 36: tesa outstanding performance
tesa Outstanding performance H1 +2.9% Q2 +11.4% tesa Industry Q2 +14.6% Page 37 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 37: Shaping tomorrow with forward thinking technologies
SHAPING TOMORROW WITH FORWARD THINKING TECHNOLOGIES Debonding on Human Machine EV batteries Demand Interface Page 38 August 7, 2024 | Beiersdorf | H1 Results 2024
Slide 38: Group income statement
KEY FIGURES H1 2024 – GROUP GROUP INCOME STATEMENT (in € million) H1 2023 % of Sales H1 2024 % of Sales % of Sales FY 23 Sales 4,936 5,175 Cost of goods sold -2,088 -2,112 Gross profit 2,848 57.7% 3,063 59.2% 57.3% Marketing and selling expenses -1,585 32.1% -1,757 34.0% 34.4% Research and developme
Slide 39: Guidance 2024
OUTLOOK GUIDANCE 2024 Consumer • Organic sales growth 6-8% • EBIT margin +50bps vs previous year tesa 2023 data for reference (excluding special factors): • Organic sales growth 2–5% Consumer EBIT 12.9% • EBIT margin at previous year’s level tesa EBIT 16.0% Group EBIT 13.4% Total Group • Organic sal
Slide 40: Thank you
THANK YOU