Beiersdorf lowered its full-year 2026 outlook on Monday after first-half organic sales fell 3.5% to €5.0 billion, driven by persistent weakness in its flagship Nivea brand. The consumer segment declined 4.0% organically, while Nivea sales dropped 6.8% to €2.7 billion on weaker shipments and a late European sun season.
The Hamburg-based group now expects organic sales to decline in the low-single-digit percentage range for both the Consumer segment and the Group, reversing prior guidance for flat to slightly growing sales. The tesa adhesive business kept its forecast of flat to slightly growing organic sales.
Profitability targets were also cut. Beiersdorf now sees a group EBIT margin excluding special factors of at least 11.8% for 2026, down from 14.0% in 2025. The Consumer segment margin is expected at a minimum of 11.0%, compared with 13.6% a year earlier. First-half EBIT excluding special factors fell to €768 million from €836 million, with the margin easing 0.6 percentage point to 15.5%.
The downgrade reflects a slower-than-expected Nivea recovery in a difficult market environment, compounded by Middle East crisis effects on consumer sentiment and costs. In response, the executive board launched an 18-month turnaround plan aimed at reigniting growth across all Nivea categories, driving volume and penetration through accessibility, and leveraging local relevance. The plan will increase consumer-facing investments, adding further margin pressure in the near term.