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Beiersdorf AG BEI Stock Quote

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Morningstar‘s Stock Analysis BEI

Valuation
Currency in EUR
Is it the right time to buy or sell?
Is it the right time to buy or sell?

1-Star Price

INVESTOR

5-Star Price

INVESTOR

Economic Moat

INVESTOR

Capital Allocation

INVESTOR

Beiersdorf Delivers Strong First-Half Results but Warns We Haven’t Seen the Last of Cost Inflation

Diana Radu, CFA Equity Analyst

Analyst Note

| Diana Radu, CFA |

With gradually accelerating pricing and benefiting from a currency windfall, we now expect a much stronger top-line delivery for narrow-moat Beiersdorf in 2022. The company posted a strong 15.5% revenue growth for the first half of the year, coupled with a 100-basis-point improvement in operating margin as a result of cost leverage. Following the announcement, we increase our organic revenue growth forecast for the consumer segment to 10% from 6% earlier, while reflecting in our forecast the currency benefit. This leads us to raise our fair value estimate by 6% to EUR 90. Even after our bump in our fair value estimate, we still believe the market is overvaluing Beiersdorf, whose shares typically trade at a significant premium to the peer group due to the company’s very strong balance sheet.

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Key Statistics BEI

Company Profile BEI

Business Description

Beiersdorf is a Germany-based company engaged in producing personal-care products, with a focus on manufacturing cosmetic products. The company operates through two business segments. Consumer provides skincare and beauty care products and operates portfolio brands such as Nivea, Eucerin, La Prairie, Labello, Hansaplast, Elastoplast, and Florena. The other business segment markets self-adhesive system and product solutions, primarily for industrial customers, under the Tesa brand. Beiersdorf is majority-owned by Maxingvest.

Contact
Unnastrasse 48
Hamburg, 20245, Germany
T +49 4049090
Industry Household & Personal Products
Most Recent Earnings Dec 31, 2015
Fiscal Year End Dec 31, 2022
Stock Type
Employees 21,300