Beiersdorf Posts Decline In Full-Year Net Profit

Beiersdorf AG BDRFY reported a drop in its full-year net profit. Beiersdorf's net profit for the year slipped to 529 million euros ($604.6 million), compared to a year-ago profit of EUR534 million. Earnings per share slipped to 2.33 euros versus 2.35 euros. Its earnings before interest and taxes, excluding one-off items, climbed 5.8% to EUR861 million, The figure beat analysts' expectations of EUR847 million. Its sales gained 2.3% to EUR6.29 billion in the period. Beiersdorf proposed a dividend of 70 cents per share for 2014. "Beiersdorf was successful in 2014. Once again, we increased sales and earnings. We also gained market share in our relevant markets, and became more innovative and more competitive. This positive performance is based on our clear and systematically implemented business strategy. We have achieved a level of stability that leads us to expect further growth even in more difficult political and economic conditions. This makes us cautiously optimistic for 2015," said Stefan F. Heidenreich, CEO of Beiersdorf AG.