Beiersdorf Ag (BDRFF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the Q1 2026 Results Conference Call. I'm Moritz, your Coruscall operator. I would like to remind you that all participants will be in a listen-only mode and the conference is being recorded. The presentation will be followed by a question and answer session. You can register for questions at any time by pressing star and 1 on your telephone. For operator assistance, please press star and 0. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Christopher Sheldon, Head of Investor Relations. Please go ahead, sir. Good morning, everyone, and thank you for joining us for our first quarter 2026 conference call. I'm here with our CEO, Vincent Vanery, and our CFO, Astrid Herrmann. As always, we will start with a presentation of our sales performance of the quarter, followed by a Q&A session. And with that, I'd like to hand over to Vincent. Thank you, Christopher, and good morning. Welcome to today's conference call. Astrid and I will walk you through our sales figures for the first three months of 2026 and a debut on the key strategic initiatives we are executing to strengthen our business. This includes an update on our ongoing and EVR rebalancing. Our Q1 sales were in line with expectations. As mentioned in our full-year 2025 call a few weeks ago, we anticipated a challenging start into 2026 with several factors impacting La Prairie's and Iberia Nelson's performance. Our derma business continued to demonstrate outstanding growth, fully delivering on its strategy. La Prairie faced headwinds through disruptions in the U.S. department channel and travel retail in China. Finally, Nivea's first quarter net sales development is challenged, but we are making progress on Nivea rebalancin...