Beiersdorf’s Q1 organic sales dip, but Derma sees robust growth

As anticipated in its full-year guidance, Beiersdorf experienced a challenging start to 2026, with group organic sales declining by 4.6% in Q1, to €2.5 billion (US$2.7 billion). In the Consumer Business Segment, organic sales decreased by 4.7%, reflecting a softer top-line development.

Looking back at 2025, Beiersdorf’s full-year financial results showed that the company maintained growth despite the stagnating market. It outperformed key competitors, remaining the fastest-growing skin care company in the market. 

Performance was mixed in the Consumer Business Segment for the 2026 Q1 result. Nivea recorded an organic sales decline of 7%, however, the German consumer goods giant is executing its rebalancing strategy as planned, with “first positive signals visible.” 

Its Derma business continued to deliver an “outstanding performance,” achieving 8.2% organic growth, supported by the continued momentum of Eucerin and Aquaphor skin care brands across global markets. 

Driving growth in challenging market 

According to Vincent Warnery, CEO of Beiersdorf, Q1 was impacted by a high prior-year comparison base, temporary disruptions in key markets, and delayed effects from recent innovations. 

He believes these factors are “not expected to persist throughout the year, and Q1 should not be seen as an indicator for the full-year performance.”

“Our priorities are clear, especially in a challenging environment. Our Derma business continues to demonstrate the power of our science‑based innovation model. With Nivea, we are executing our rebalancing strategy with a focus on what drives relevance and growth,” explains Warnery. 

Derma outperforms again

In Q1, Beiersdorf’s Derma business continued its strong momentum, significantly outperforming the overall Derma market. Its category grew at low single-digit rates, thanks to its Eucerin and Aquaphor brands. 

Beiersdorf reports that science-based innovations featuring breakthrough ingredients such as Epicelline and Thiamidol resonated strongly with consumers and dermatologists. Robust growth was recorded across key regions like North America, Brazil, and China, underscoring the continued attractiveness and scalability of this portfolio. 

Trade and travel impacts 

Meanwhile, Nivea’s results were impacted by “a persistently challenging mass market and a demanding comparison base following two strong first quarters in the prior years.” 

Trade-related tensions in Europe and timing differences between sell-in and sell-out for key innovations weighed on net sales. 

While the core portfolio has not yet returned to growth, underlying dynamics are gradually improving. Beiersdorf continues to implement its rebalancing strategy aimed at restoring Nivea’s growth trajectory, with traction visible in improved sell-out dynamics. 

Beiersdorf continues to implement its rebalancing strategy aimed at restoring Nivea’s growth trajectory, with traction visible in improved sell-out dynamics.La Prairie’s performance in Q1 was impacted by disruptions in the US department store channel and in travel retail in China, resulting in an organic sales decline of 14.9%. These effects were temporary and did not reflect underlying consumer demand. 

Excluding these disruptions, retail sales increased by 9%, driven by continued momentum in China for the fourth consecutive quarter. While the luxury skin care market remains volatile, early signs of progress from La Prairie’s repositioned strategy are becoming visible, including a positive sell-out development. 

Guidance for 2026 confirmed

Beiersdorf remains confident in its strategic direction, the strength of its brands, and its ability to create long-term value. 

While its Derma business continues to perform strongly, Nivea and La Prairie recorded an unfavorable net sales development. However, positive sell-out dynamics indicate an improvement over the forthcoming quarters. 

As a result, Beiersdorf confirms its guidance for the 2026 fiscal year. For the Consumer Business Segment, the company continues to expect net sales to be flat to slightly growing organically, with an EBIT margin excluding special factors slightly below the previous year’s level. 

Earlier this month, Beiersdorf launched the second iteration of its corporate venture capital fund for skin care innovation with a €100 million (US$116 million) commitment. The consumer goods giant says the new Skin Care Innovation Fund reinforces venture capital as a strategic lever to drive future growth through science-based innovation.