Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on BEIERSDORF AG. We currently have 8 research reports from 1 professional analysts.
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Consumer’s LatAm burden
03 Nov 16
9M sales stood unchanged at €5,032m, but organic growth was +3%. Consumer’s sales came in unchanged at €4,177m (organic: +3%) and tesa declined 1% to €855m (organic: +1%). Management confirmed 2016 guidance, expecting an organic sales growth of 3-4%, a slightly higher EBIT margin (2015: 14.4%) and PAT also slightly above the previous year’s (2015: 10.0%).
Other operating result and financial result made the difference
04 Aug 16
Beiersdorf’s H1 sales weakened by 1% to €3,358m and the gross profit margin declined 30bp to 59.1%. EBITDA stood +2% higher (at €580m) and net profit attributable to shareholders rose +5% to €364m. Operating CF strongly increased (€407m after €290m), fuelled by a swing in NWC from €-104m to €8m due to lower inventories and lower increases in receivables and liabilities. Despite significantly lower capex, investing CF moved from €-235m to €-276m, driven by higher net payments to acquire securities (€-263m after €-154m). Higher financing expenses and loan repayments burdened financing CF (€-223m after €-188m). Management confirmed 2016 guidance expecting an organic sales growth of 3-4%, a slightly higher EBIT margin (2015: 14.4%) and PAT also slightly above the previous year (2015: 10.0%).
Not a too bad start into 2016, but how has profitability performed?
06 May 16
Group sales were down by 2% to €1,673m, but organic growth was +2%. Management confirmed 2016 guidance, expecting an organic sales growth of 3-4%, a slightly higher EBIT margin (2015: 14.4%) and PAT also slightly above the previous year’s (2015: 10.0%).
Despite lower dynamics, 2015 performed well
17 Feb 16
Beiersdorf reported +6% higher sales (to €6,686m; organic: +3%) and the gross profit margin increased from 57.5% to 58.4%. EBITDA rose +12% to €1,091m, but was up by just +4% if the previous year’s one-off is excluded. Net income attributable to shareholders jumped +25% to €660m. Operating CF reflected the improved operating profitability and clearly benefited from the strong swing in NWC (€30m after €-201m) and strongly increased from €397m to €800m. By contrast, investing CF moved from €-230m to €-655m, hit by higher net payments to acquire securities (€-551m after €-17m). Financing CF was fairly unchanged (€-210m after €-192m), impacted by a small swing from net gross debt proceeds (€9m) to net gross debt repayments (€-15m). Management will propose an unchanged dividend of €0.70 per share at the AGM on 31 March 2016. For 2016, management expects an organic sales growth of 3-4%, a slightly higher EBIT margin (2015: 14.4%) and PAT also slightly above the previous year (2015: 10.0%).
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
Small Cap Breakfast
16 Feb 17
Saffron Energy—Schedule One update. Raising £2.5m, expected Mkt Cap £7.7m. Admission due 24 Feb. Italian Oil & Gas Play Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science Company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
13 Feb 17
Surface Transforms* (SCE): H1 results confirm operational progress (CORP) | Premaitha Health* (NIPT): European diagnostics partnership (CORP) | Lok'nStore* (LOK): Filling existing stores, developing new ones (CORP) | Victoria* (VCP): Entry into the European flooring market (CORP) | eg solutions* (EGS): Exceptional H2 performance (CORP)
Share & share alike
14 Feb 17
The rally in the last fortnight, highlighted in the table, reflects a continued flow of positive updates and economic news. The FTSE 250, Small cap and Fledgling indices have reached record highs. We are in the lull ahead of results for those companies with a December year end, a welter of economic data regarding the UK economy, the State of the Union address in the US on 28 February and the UK Budget on Wednesday 8 March. We will learn at that stage the latest forecasts from the Office of Budget Responsibility. As highlighted previously, the reaction to corporate updates will continue to set the tone.