Beiersdorf Aktiengesellschaft: Impact of the corona crisis on business performance in 2020 - Beiersdorf withdraws guidance for fiscal year 2020

Beiersdorf Aktiengesellschaft / Key word(s): Development of Sales/Change in Forecast
Beiersdorf Aktiengesellschaft: Impact of the corona crisis on business performance in 2020 - Beiersdorf withdraws guidance for fiscal year 2020

02-Apr-2020 / 18:33 CET/CEST
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Impact of the corona crisis on business performance in 2020 - Beiersdorf withdraws guidance for fiscal year 2020

Beiersdorf Aktiengesellschaft, Hamburg, expects the global spread of the corona-19 virus to have a significant impact on its business performance in 2020.

According to preliminary figures, Group sales fell like-for-like by -3.6% to €1,910 million year over year in the first quarter of the fiscal year. Sales growth generated by the Consumer business segment during the first quarter totaled like-for-like -3.3% (sales of €1,581 million) against the prior-year quarter. Sales growth at the tesa business segment totaled like-for-like -5.1% (sales of €329 million).

For the entire 2020 fiscal year, the company is unable to currently project the potential impact that the corona crisis could have on its business performance. For this reason, the targets set in the company's guidance issued on March 3, 2020, are unlikely to be achieved. The company has withdrawn this guidance as a result.

The company's quarterly report about its performance from January through March 2020 will be released on May 5, 2020.

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