The higher sales of sunscreen and deodorant helped UK arm of Beiersdorf, the company behind the likes of Nivea, boost its turnover and profit during 2023.
The Birmingham-based company has reported a turnover of £273.9m for 2023, up from the £237m it posted for 2022.
Newly-filed accounts with Companies House also show its pre-tax profit increased from £28.4m to £39.1m in the 12 months.
As well as Nivea, Beiersdorf’s brands include Eucerin, Hansaplast, La Prairie Chantecaille, Coppertone, Labello, 8X4, Hidrofugal, Tesa, Florena, Skin Stories and Gammon.
Online sales also boost Nivea owner
A statement signed off by the board said: “The directors are pleased with the strong growth in turnover achieved during the year.
“The company continues to focus on sustainability and strengthening its online and e-commerce presence, whilst protecting the health and wellbeing of its employees.”
It added: “The company achieved strong sales growth in 2023, with highlight performances in categories of sun and deodorant. Sales growth was also achieved via e-commerce channels.
“Despite the market being subject to inflationary increases which impacted the costs of goods supplied to the company, the company has been able to achieve growth in gross profit margin and operating profit.”
Beiersdorf UK’s gross profit margin increased from 43.4 per cent to 47.8 per cent. Its operating profit margin also rose from 12 per cent to 14.3 per cent.
The division’s UK turnover increased from £226.6m to £260.5m in the year and from £10.4m to £13.3m in the rest of the world.
The wider Beiersdorf group, which is headquartered in Germany, reported a 7.1 per cent in its sales to £4.4bn for the first six months of 2024.
Its consumer business also experienced an eight per cent rise to £3.6bn thanks to a 11.1 per cent growth in Nivea’s sales.
For 2023, the group a record sales growth of 10.8 per cent to £8.1bn while its consumer business segment saw sales increase by 12. per cent to £6.6bn.
Nivea achieved a record year with sales up 16.2 per cent to £4.4bn.