Beiersdorf Earnings: Nivea Weakness Drives Guidance Cut; Fair Value Lowered to EUR 93 From EUR 106
Beiersdorf's organic sales declined 2.3% in the second quarter, an improvement from the 4.6% decline in the first quarter, driven by a recovery in La Prairie and continued strength in derma. Nivea remained weak, down 6.8% organically in the first half, driving a negative revision to guidance.