May 8, 2018 / 6:26 AM / a year ago

Beiersdorf sticks to cautious outlook despite strong quarter

BERLIN, May 8 (Reuters) - Beiersdorf, the maker of Nivea and other skin care products, beat its consumer product rivals on Tuesday by posting a 6.5 percent rise in first-quarter organic group sales, but stuck to its conservative outlook for 2018.

Sales, excluding exchange rate effects as well as the impact of acquisitions and divestments, rose to 1.807 billion euros ($2.16 billion), just ahead of average analyst forecasts, although exchange rate effects meant nominal growth was just 0.4 percent.

Beiersdorf has performed strongly against rivals Unilever , the maker of Dove products, and Britain’s Reckitt Benckiser, with the quarter powered by 8.5 percent sales growth at its Tesa adhesives unit.

However, it reiterated a cautious forecast for 2018 sales growth of around 4 percent, predicting Tesa will record sales growth of 3 to 4 percent and its consumer products division to grow 4 to 5 percent. ($1 = 0.8384 euros) (Reporting by Emma Thomasson Editing by Maria Sheahan)

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