Beiersdorf Ag · XETR:BEI
Beiersdorf — FY2024 Earnings Presentation
38 slides from Beiersdorf's earnings presentation, Feb 27, 2025
Slide 1: FY 2024 Results
FY 2024 RESULTS Hamburg, February 27, 2025 Astrid Hermann, Vincent Warnery
Slide 2: Fully delivered in 2024, outperformance continues
FULLY DELIVERED IN 2024 OUTPERFORMANCE CONTINUES SUSTAINED SALES AND PROFIT SECOND YEAR IN A ROW WIN WITH CARE CARE BEYOND SKIN BOUND FOR CONTINUED LEADING IN SUSTAINABILITY SUCCESS IN 2025 AND BEYOND AND DE&I
Slide 3: Profitable growth: track record of success
PROFITABLE GROWTH TRACK RECORD OF SUCCESS 1,370 9,850 1,268 9,447 1,158 8,799 993 7,627 2021 2022 2023 2024 2021 2022 2023 2024 EBIT Margin: 13.0% 13.2% 13.4% 13.9% Sales and EBIT excluding special effects for Beiersdorf Group, in €m
Slide 4: Outperforming competition
OUTPERFORMING COMPETITION FUELED BY INNOVATION FY 2023 FY 2024 Beiersdorf Beiersdorf Consumer +12.5% Consumer +7.5% Competitor 1 Competitor 2 Competitor 2 Competitor 1 Competitor 3 Competitor 3 Competitor 4 Competitor 5 Competitor 5 Competitor 4 organic sales growth: Beiersdorf Consumer division vs.
Slide 5: Strong full year results driven by our largest brands
STRONG FULL YEAR RESULTS DRIVEN BY OUR LARGEST BRANDS CONSUMER GROUP +7.5% 6.5% + FY 2024 NIVEA DERMA HEALTHCARE LA PRAIRIE TESA + 9.0% +10.6% +6.1% –6.2% 1.9% + organic sales growth, NIVEA incl. Labello
Slide 6: NIVEA momentum
NIVEA MOMENTUM CONTINUED GROWTH DRIVER Q4 FY +7.9% +9.0 % Q3 +5.9% organic sales growth, NIVEA incl. Labello
Slide 7: NIVEA momentum: Luminous success continues
NIVEA MOMENTUM LUMINOUS SUCCESS CONTINUES FY LUMINOUS630 +34% FY organic sales growth, NIVEA incl. Labello
Slide 8: Strong growth across regions
STRONG GROWTH ACROSS REGIONS NORTH AMERICA WELL BALANCED + 4 .1% EUROPE + 6.2% 40 % Pricing LATIN 60 % Volume AMERICA AAA + 9.8% +11.5 % FY organic sales growth, NIVEA incl. Labello
Slide 9: Derma double-digit
DERMA DOUBLE-DIGIT ONGOING EXPANSION THIAMIDOL Q4 FY +16.5 % + 29% FY +10.6 % organic sales growth
Slide 10: Outstanding performance across regions
OUTSTANDING PERFORMANCE ACROSS REGIONS NORTH EUROPE +7.1% +9.1% AMERICA AAA +15.5% LATAM +12.5 % FY organic sales growth Derma
Slide 11: La Prairie
LA PRAIRIE RESILIENCE IN UNCERTAIN MARKETS FY - 6.2% STRATEGIC INITIATIVES FY CHINA E-COMMERCE +32% E-COMMERCE Q4 -2.8 % BROADENING PRICE POINTS CONSUMER ENGAGEMENT organic sales growth
Slide 12: Chantecaille
CHANTECAILLE BOUND FOR 2025 ACCELERATION ASIA EXPANSION CHINA LAUNCH THIAMIDOL LAUNCH IN Q2 2025 FY + 4.5% organic sales growth
Slide 13: Win with Care
a. WW : Beiersdorf®
Slide 14: Innovation: Thiamidol
INNOVATION: THIAMIDOL MOMENTUM CONTINUES 435 2025 53 2019 2020 2021 2022 2023 2024 Total Thiamidol Net Sales across brands in €m
Slide 15: Epigenetics: game changer in anti-age
EPIGENETICS: GAME CHANGER IN ANTI-AGE
Slide 16: Innovation: Epigenetics record launch
INNOVATION: EPIGENETICS RECORD LAUNCH OUTSTANDING REPURCHASE RATE LAUNCHED IN 40 ~2X Accumulated repurchase rate in Germany STRONG COUNTRIES >20% above TOP PRODUCTS EPIGENETIC SERUM #1 POSITIONS 2024 plan
Slide 17: Innovation: Epigenetics cascading roadmap
INNOVATION: EPIGENETICS CASCADING ROADMAP 2024 2025 2026+
Slide 18: Innovation: NIVEA
INNOVATION: NIVEA ONE OF STRONGEST PIPELINES EVER 47% FACE BODY 34% 27% SUN 2023 2024 2025 LAUNCHES & RELAUNCHES % OF SALES
Slide 19: White space: USA
WHITE SPACE: USA FACE CARE & THIAMIDOL
Slide 20: White space: India
e THIAMIDOL MOST EFFECTIVE ANTI-SPOT INGREDIENT THE SEARCH IS OVER SHOP NOW Eucerin’ tees Eucetin Arti aper fp Antepee nated
Slide 21: White space: India
WHITE SPACE: INDIA UNLOCKING FURTHER POTENTIAL Q4 2024 Q1 2025 2025
Slide 22: White space: China
WHITE SPACE: CHINA ONGOING SUCCESS Launch Mainland China 2026 FY 2024 +43% November 2024: Approval of Hero ingredient Thiamidol in China organic sales growth Luminous630 in China
Slide 23: Care beyond skin: delivering towards net zero
CARE BEYOND SKIN DELIVERING TOWARDS NET ZERO -25.3% 2030 CLIMATE NEUTRAL PRODUCTION SITES WORLDWIDE 2024 2025 -30% 2032 -90% -50% 2045
Slide 24: We care beyond skin: equality matters
WE CARE BEYOND SKIN EQUALITY MATTERS GENDER PARITY GENDER PAY EQUITY 0.98% Gender Pay Gap GLOBAL 2023 0.56% Gender Pay Gap GERMANY
Slide 25: Financials
FY 2024 FINANCIALS
Slide 26: Group net sales
GROUP NET SALES 2023 2024 GROWTH RATE JAN. - DEC. JAN. - DEC. IN € MILLION IN € MILLION NOMINAL ORGANIC CONSUMER 7,780 8,162 +4.9% +7.5% TESA 1,667 1,688 +1.2% +1.9% GROUP 9,447 9,850 +4.3% +6.5%
Slide 27: Consumer regions
CONSUMER REGIONS Europe 5.3% + Eastern Europe 3,546 Western Europe +11.5% North America +3.6% 761 +2.8% 2,785 1,008 Americas Africa, Asia 7.0% & Australia 11.3% + Latin America 2,283 +10.5% + 1,275 2,333 FY organic sales growth, nominal sales in € million
Slide 28: Consumer quarterly phasing
CONSUMER QUARTERLY PHASING +10.0 +7.5 +8.2 +6.1 +5.7 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 organic sales growth
Slide 29: Group: strong finish
GROUP STRONG FINISH CONSUMER GROUP + 8.2% + 6.3% Q4 2024 NIVEA DERMA HEALTHCARE LA PRAIRIE TESA 7.9% + 16.5% + +9.9% -2.8% -2.0% organic sales growth, NIVEA includes Labello
Slide 30: Group key figures 2024
GROUP KEY FIGURES 2024 2023 2024 CHANGE IN € MILLION IN € MILLION NOMINAL ORGANIC SALES 9,447 9,850 +4.3% +6.5% EBIT 1,268 1,370 PROFIT AFTER TAX 749 928 EBIT MARGIN 13.4% 13.9% PROFIT AFTER TAX MARGIN 7.9% 9.4% ERNINGS PER SHARE IN € 3.24 4.05 excluding special factors, except profit after tax
Slide 31: Segments key figures 2024
SEGMENTS KEY FIGURES 2024 2023 2024 CHANGE IN € MILLION IN € MILLION NOMINAL ORGANIC CONSUMER SALES 7,780 8,162 +4.9% +7.5% EBIT 1,002 1,094 EBIT MARGIN 12.9% 13.4% TESA SALES 1,667 1,688 +1.2% +1.9% EBIT 266 276 EBIT MARGIN 16.0% 16.3% excluding special factors
Slide 32: Consumer gross margin
CONSUMER GROSS MARGIN IN % 1.2 0.6 0.2 60.6 59.8 FY 2023 PRICE COSTS OF SALES, MIX FY 2024 LOGISTICS & OTHER at constant FX rate 2023
Slide 33: Consumer marketing spend
CONSUMER MARKETING SPEND WORKING MEDIA FOCUS Working media vs. non-working media INCREASED INVESTMENTS Marketing budget as % of net sales X1.5 +0.8pp Working Media Non-Working Media 26.1% 26.9% 2021 2023 2024 DIGITAL FOCUS +>€200m Digital working media spend relative to total working media spend 70%
Slide 34: Group income statement
GROUP INCOME STATEMENT Organic Growth/ Organic Growth/ (in € million) 2024 % of Sales 2023 % of Sales Sales 9,850 +6.5% 9,447 +10.8% Cost of goods sold -4,090 - -4,031 - Gross profit 5,760 58.5% 5,416 57.3% Marketing and selling expenses -3,461 35.1% -3,250 34.4% Research and development expenses -3
Slide 35: tesa
TESA AUTOMOTIVE GLOBAL MARKET DECLINE FY +1.9% ELECTRONICS STRONG PERFORMANCE Q4 -2.0% CONSUMER organic sales growth E-COMMERCE SUCCESS
Slide 36: Outlook
Beiersdorf
Slide 37: Use of capital: share buyback €500m
USE OF CAPITAL SHARE BUYBACK €500m
Slide 38: Guidance 2025
GUIDANCE 2025 2024 data for reference CONSUMER (excluding special factors): Consumer EBIT margin 13.4% Organic sales growth 4-6% tesa EBIT margin 16.3% Group EBIT margin 13.9% EBIT margin +50bps vs. previous year TESA Organic sales growth 1-3% EBIT margin around 16% TOTAL GROUP Organic sales growth