Beiersdorf Aktiengesellschaft
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5-year stock timeline
Major company- and stock-specific events that likely moved the price
May 1, 2021 — Vincent Warnery appointed Group CEO (succeeded Stefan De Loecker); contract extended through 31 Jan 2027. [35,29] Internal succession signalled continuity; early investor view = cautious optimism about execution, focus on innovation/margin. Stock stabilised and recovered from pandemic volatility; modest re‑rating as confidence in management rose.
2021–2022 (Q1 → H1 → FY) — Strong operational rebound: Q1/H1 2022 double‑digit organic growth; FY2022 group sales €8.8bn (organic +10.2%); EBIT excl. special factors €1,158m; profit after tax €771m. [46,45,44] Narrative shifted to "resilient, cash‑generative consumer champion" — NIVEA/core brands delivering stable growth; stock seen as defensive compounder with restored credibility. Sustained uptrend through 2022; breakout to multi‑year highs on consecutive beats and margin improvement.
Mar–Apr 2022 — Russia/Ukraine war: suspended advertising/investment in Russia; limited product range to essentials; suspended La Prairie & tesa commercial activity in Russia; Russia/Ukraine ≈ <3% of group sales. [1,5,2,9] Short‑term reputational scrutiny; investors judged direct financial exposure limited so impact on valuation was muted. Short, sharp volatility/pullback in Feb–Mar 2022 around geopolitical headlines; uptrend quickly resumed.
Mar 1, 2023 — Publication of FY2022 results: double‑digit organic growth, improved margins; management described performance as among the best in recent decades. [45,44,51] Reinforced confidence in management execution; markets rewarded improving margins and cash flow — further re‑rating. Re‑acceleration to new highs into early 2023; strong momentum phase.
2023 — Luxury/selective brands struggled: La Prairie organic sales down ~15.4% in 2023; Chantecaille down ~18.4%; company called 2023 a "transition year" to normalise inventories. [16,26,22] Story bifurcated: core (NIVEA/Derma/tesa) = defensive growth; luxury = cyclical/structural drag → stock labelled "defensive compounder with luxury tail‑risk." Underperformance/sideways range vs broader market; increased intraday volatility and tests of intermediate support.
Feb 5, 2024 — Board proposes dividend increase (FY2023) to €1.00 and announces up to €500m share buyback (program to run May–end‑2024). [59,62] Strongly shareholder‑friendly capital‑allocation message; markets reacted positively — narrative shifted toward re‑rating via buybacks/dividend. Bullish gap/breakout into early 2024; momentum pickup ahead of buyback execution.
Feb 28, 2024 — Beiersdorf signs agreement to acquire Clinique La Prairie real‑estate assets (sale & leaseback) to reunite La Prairie with its historical birthplace. [15,17,21,24] Viewed as strategic brand‑support for La Prairie; positive for brand equity but limited short‑term P&L impact. Event‑driven, modest positive intraday move; no durable change to overall trend by itself.
Apr 24–Aug 6, 2024 — Share buyback executed & completed: 3,604,604 shares repurchased (~1.45% of capital) for ~€500m; average purchase price €138.7115. [60,61,66] EPS‑accretive, float tightened, board showing confidence — strong near‑term technical/psychological support. Mid‑2024 rally anchored near buyback range (~€132–€145); buyback supported price and reduced free float, producing a temporary structural support band.
Aug 2024 — Reported miss vs. profit forecast; management cited greater China & travel‑retail weakness that hit La Prairie; market reaction negative. [20] Renewed scepticism about timing of luxury recovery; investors began to discount a longer runway for La Prairie recovery despite buybacks. Breakdown below mid‑2024 buyback highs; start of extended downtrend and failed retests of buyback‑era resistance.
Oct 2024 — 9M / Q3 updates: core consumer segments continued to grow; La Prairie still weak; mixed guidance/updates across regions. [11,14,20] Narrative became "mixed" — core businesses credible, but luxury weight and China/travel‑retail exposure kept valuation constrained. Investors focused on mix and margin quality rather than headline sales. Consolidation and lower‑high structure across Q4‑2024; rallies were capped and technical support repeatedly tested.
Feb 27, 2025 — FY2024: Beiersdorf reports record sales and says innovations fuelled growth; dividend for FY2024 confirmed at €1.00; Board announces another buyback authorization up to €500m. [69,63,70] Management emphasised execution and shareholder returns; some investor confidence regained (income/return buyers), but structural luxury concerns persisted, limiting multiple recovery. Short‑lived bounce on results; price formed lower highs vs 2024 buyback peak and then resumed a corrective/downward structure.
2025 → H1 2026 — Persistent luxury weakness and travel‑retail / Greater China softness; La Prairie sales continued to decline through 2024–2025; company leaned on NIVEA/Derma for organic growth. [22,18,60,61] Narrative by mid‑2026: high‑quality, cash‑generative core business but valuation compressed by persistent luxury underperformance and macro multiple contraction — stock seen as income/return play rather than growth momentum. Prolonged downtrend from the mid‑2024 buyback peak (~€138 average) into mid‑2026 (~€78.2): >40% drawdown, breakdown through prior supports, lower highs and reduced liquidity; rallies were short and failed to reclaim buyback highs.
Key risks and downside factors
Beiersdorf operates across mass-market, dermatological, and prestige skincare (NIVEA, Eucerin, La Prairie) alongside industrial adhesives (tesa), competing against multinational consumer-goods and beauty conglomerates as well as nimble independent and regional players. The business faces meaningful headwinds: intense pricing and marketing competition, reliance on concentrated channels for luxury travel retail and department-store distribution, cyclical demand patterns in tesa's industrial B2B segment, and persistent margin compression from raw-material costs, energy inflation, and currency fluctuations.
- Global FMCG and prestige beauty incumbents compete fiercely on pricing and shelf space, while fast-growing indie and DTC brands add pressure on marketing returns.
- Premium lines like La Prairie face meaningful exposure to channel concentration risk. Department-store and travel-retail disruptions can trigger sudden, localized revenue drops that don't announce themselves gently.
- Tesa's exposure to cyclical industries—automotive, electronics, and EV battery supply chains—creates vulnerability to margin compression and volume declines when these sectors contract.
- Margin compression stems from raw-material and energy cost inflation, currency volatility across markets, and tightening regulatory requirements around skincare ingredients and packaging.
Competitive landscape
Beiersdorf operates across distinct market tiers—mass-market skincare through NIVEA, dermocosmetics via Eucerin, premium positioning with La Prairie, and industrial adhesives under tesa. This spread positions the company between traditional FMCG conglomerates and prestige beauty houses, a middle ground that brings both reach and complexity. The competitive landscape is dense. Global players like L'Oréal, Unilever, P&G, Estée Lauder, Henkel, Kenvue and J&J compete directly across multiple segments, pressing on pricing, marketing budgets and innovation velocity. Smaller independent and natural brands create localized pressure in specific segments. Margin compression represents the most persistent threat—driven by both competitive intensity and input-cost inflation. Currency exposure in emerging markets adds volatility. Product safety and regulatory compliance carry reputational weight, particularly in premium categories where consumer trust is the actual product. Discretionary spending sensitivity in prestige tiers creates cyclical vulnerability.
| Company | Ticker |
|---|---|
| L'Oréal | OR.PA |
| Procter & Gamble | PG.NYSE |
| The Estée Lauder Companies | EL.NYSE |
| Kenvue Inc. | KVUE.NYSE |
| Johnson & Johnson | JNJ.NYSE |
Private competitors
- Dr. Barbara Sturm
- Logocos Naturkosmetik
- Fresh
- Gitti Conscious Beauty
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Start Free TrialPerformance Figures of Beiersdorf Aktiengesellschaft
Relative Performance vs Benchmarks
| Period | Beiersdorf Aktiengesellschaft | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | +13.60% | +11.89% | +12.19% |
| 3M | +4.72% | -0.45% | -5.54% |
| 6M | -16.56% | -15.68% | -24.86% |
| 1Y | -27.14% | -30.57% | -49.01% |
| 3Y | -30.87% | -91.34% | -107.85% |
| 5Y | -20.10% | -79.70% | -103.79% |
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Start Free TrialHistorical valuation trends
How the company’s key valuation ratios (P/E, P/S, P/B and P/CF) have evolved over time compared to today.
| Period | P/E Ratio | P/S Ratio | P/B Ratio | P/CF Ratio |
|---|---|---|---|---|
| Current | 25.8 | 2.4 | 2.0 | 20.8 |
| 1Y ago | 14.7 | 1.2 | 2.8 | 11.7 |
| 3Y ago | 21.6 | 1.9 | 3.2 | 28.0 |
| 5Y ago | 24.3 | 2.1 | 3.6 | 13.0 |
Frequently Asked Questions
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What are the key metrics for BEI.XETRA?
How has Beiersdorf Aktiengesellschaft's stock price performed?
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Does BEI.XETRA pay dividends?
What are the key risks when investing in BEI.XETRA?
- Global FMCG and prestige beauty incumbents compete fiercely on pricing and shelf space, while fast-growing indie and DTC brands add pressure on marketing returns.
- Premium lines like La Prairie face meaningful exposure to channel concentration risk. Department-store and travel-retail disruptions can trigger sudden, localized revenue drops that don't announce themselves gently.
- Tesa's exposure to cyclical industries—automotive, electronics, and EV battery supply chains—creates vulnerability to margin compression and volume declines when these sectors contract.
- Margin compression stems from raw-material and energy cost inflation, currency volatility across markets, and tightening regulatory requirements around skincare ingredients and packaging.
Who are the main competitors of Beiersdorf Aktiengesellschaft?
- L'Oréal (OR.PA)
- Procter & Gamble (PG.NYSE)
- The Estée Lauder Companies (EL.NYSE)
- Kenvue Inc. (KVUE.NYSE)
- Johnson & Johnson (JNJ.NYSE)
When does Beiersdorf Aktiengesellschaft report earnings?
Key Metrics
Valuation Metrics
Profitability Metrics
Growth Metrics
Dividend history
Long-term record of paid dividends (amount per share and dividend yield at the time of payment).
| Year | Dividend | Yield at payment | Avg. yield |
|---|---|---|---|
| 2026 | 1.00 EUR | 1.35% | 0.88% |
| 2025 | 1.00 EUR | 0.84% | |
| 2024 | 1.00 EUR | 0.74% | |
| 2023 | 0.70 EUR | 0.57% | |
| 2022 | 0.70 EUR | 0.74% | |
| 2021 | 0.70 EUR | 0.78% | |
| 2020 | 0.70 EUR | 0.74% | |
| 2019 | 0.70 EUR | 0.76% | |
| 2018 | 0.70 EUR | 0.76% | |
| 2017 | 0.70 EUR | 0.77% | |
| 2016 | 0.70 EUR | 0.88% | |
| 2015 | 0.70 EUR | 0.87% | |
| 2014 | 0.70 EUR | 0.99% | |
| 2013 | 0.70 EUR | 1.03% | |
| 2012 | 0.70 EUR | 1.33% |
Earnings history & estimates
Historical earnings performance shows how consistently the company meets or exceeds analyst expectations. Forward estimates provide insight into expected profitability and growth trajectory.
Historical earnings performance
Upcoming earnings report
Analyst estimates for upcoming periods
Key financial figures
Selected income statement, balance sheet and cash flow figures. Annual and quarterly, based on reported IFRS/GAAP financials.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | 9.85B | 9.85B | 9.45B | 8.80B | 7.63B |
| Operating income (EBIT) | 1.35B | 1.30B | 1.10B | 1.22B | 980.00M |
| Net income | 939.00M | 912.00M | 736.00M | 755.00M | 638.00M |
| Free cash flow | 373.00M | 794.00M | 424.00M | 249.00M | 580.00M |
| Total assets | 12.85B | 13.01B | 12.63B | 12.35B | 11.30B |
| Equity | 8.60B | 8.47B | 8.32B | 7.79B | 6.87B |
| Net debt | -983.00M | -941.00M | -1.03B | -722.00M | -757.00M |
PWP Leeway UG (haftungsbeschränkt)
