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Beiersdorf Predicts Solid 2020 Despite Coronavirus

The company did not include any impact from the coronavirus in its outlook.

By: Beauty Packaging Staff

According to a report by Reuters, Beiersdorf expects similar sales growth and profitability in 2020 compared to 2019, although it cautioned that it could not yet assess the impact of coronavirus on its business.
 
Beiersdorf’s outlook did not include any impact from the coronavirus in China, even though the company makes almost a third of its sales in the Africa/Asia/Australia region, where sales for its consumer unit jumped 8.4% in 2019.
 
“While the situation of the coronavirus remains dynamic, its impact on our business is not quantifiable yet. We therefore expect stronger headwinds in 2020,” said chief executive Stefan de Loecker.
 
In other news, P&G, a competitor to Beiersdorf, has admitted that its current-quarter revenue and profit will take a hit from supply chain disruptions and weak demand due to the coronavirus outbreak in China. Also, The Estée Lauder Companies said its third quarter will be impacted by the sales decline of luxury beauty products in China. 

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