Annual Report 2022

Annual Report 2022

Results of Operations – Business Segments



Sales – Consumer Business Segment(in € million)







Change (in %)



Jan. 1 – Dec. 31, 2021


Jan. 1 – Dec. 31, 2022














Western Europe









Eastern Europe


















North America









Latin America



























Sales in the Consumer Business Segment grew organically by 10.5% in 2022. In nominal terms, sales increased by 16.3% to €7,131 million (previous year: € 6,129 million). Exchange rate effects increased nominal growth by 4.6 percentage points. The structural effect from the acquisition of Chantecaille positively impacted nominal growth by 1.2 percentage points.

All regions and brands contributed to the growth in the Consumer Business Segment. Beiersdorf gained market share on every continent, particularly with the NIVEA brand in Europe, with very strong development in Switzerland, the United Kingdom, and Spain, and with the Derma business unit’s Eucerin and Aquaphor brands in the United States, Mexico, and Germany. The Healthcare business also gained market share, particularly in Australia, Mexico, and Indonesia.

The rates of sales growth trended upward in all regions, especially in the Americas and in Africa/Asia/Australia, where sales rose by double-digit percentages year on year. NIVEA achieved strong growth rates overall. Derma, Healthcare, and the La Prairie brand put in strong growth figures and contributed to the business segment’s excellent performance.

EBIT excluding special factors was €880 million (previous year: €740 million). The EBIT margin excluding special factors was 12.3% (previous year: 12.1%). Special factors comprised expenditure of €5 million from the “Care Beyond Skin” program, restructuring expenses, primarily in the supply chain organization of €43 million, and expenditure of €4 million in connection with the integration of the Chantecaille business. The operating result for the Consumer Business Segment including special factors therefore stood at €828 million (previous year: €680 million), while the EBIT margin was 11.6% (previous year: 11.1%).

NIVEA grew organically by 9.6% globally in 2022. Nominal sales increased from €4,116 million to €4,652 million. The strong almost double-digit sales growth in percentage terms was based on gains in market share in all regions and almost all main categories. NIVEA saw growth in both volume and price. This was driven especially by the emerging markets region, the introduction of new products, and a strong performance by the basic range. All main categories posted growth in 2022. The main growth drivers were NIVEA Deo, NIVEA SUN, NIVEA Body, NIVEA Lip, and NIVEA Face. In the NIVEA Deo category, existing product lines such as Black & White and Fresh and expanded lines such as Pearl&Beauty were among the key growth drivers. The NIVEA SUN business showed remarkable growth in all regions and almost all ranges, outperforming the pre-COVID-19 sales level. NIVEA also achieved very positive sales performance in the core body care business with ranges such as Essentials. NIVEA Lip grew strongly in almost all product ranges and regions. In the NIVEA Face category, the continued excellent performance of the newly launched NIVEA Cellular LUMINOUS 630® contributed to the strong sales growth. The NIVEA hair care category saw a further decline.

The Derma business unit performed particularly well, with organic sales growth of 23.9%. Nominal sales were up from €790 million to €1,026 million. Sales growth was achieved in all regions and categories. Strong growth acceleration was achieved in our key market USA, in the South America and MEA region, and in our white spot market China. A positive contribution to growth came primarily from the Eucerin face category, mainly from the subcategories anti-pigment and acne, driven by the further expansion of our Thiamidol range. In addition, our sun category contributed to strong above-average growth, supported by the launch of Eucerin Sun in the USA and the success of our new product launches such as Oil and Pigment Control Tinted. In Body Care, the Eucerin Urea range and Aquaphor recorded particularly strong sales growth. In general, the online sales channel was an important sales driver.

Healthcare recorded organic sales growth of 13.1% and reached a new milestone of €261 million (previous year: €225 million). The double-digit sales growth in percentage terms was based on strong, consistent implementation of brand innovations, including sustainable plasters in the field of wound care. This growth was seen in all major markets. Wound plasters continue to be a strong pillar and growth driver for overall growth.

In the selective cosmetics business unit, our La Prairie brand increased organic sales by 1.9%. Nominal sales were up from €599 million to €655 million. This result was mainly due to the recovery of the important travel retail business and the upturn in brick-and-mortar retail in North America, while the local market in China faced major challenges from COVID-19 restrictions. The launches of White Caviar Essence Extraordinaire, Pure Gold Radiance Nocturnal Balm, and Skin Caviar Harmony L’Extrait acted as the growth drivers.

In the Europe region, organic sales were up 5.0% on the previous year. Nominal sales climbed by 6.7% to €3,104 million (previous year: €2,910 million).

In Western Europe, organic sales rose by 5.3%. Healthy growth rates were achieved especially in Great Britain, Spain, Italy, and Denmark. Sales in NIVEA Deo, SUN, and Universal Creams along with the wound care categories in the Healthcare area developed especially positively. The Eucerin Face, Body, and Sun categories also contributed to sales growth. There was a significant impact from the recovery of the travel retail business at the La Prairie brand.

Sales in Eastern Europe were up 3.7% on the previous year in organic terms. This trend was partly driven by strong growth in Poland and Romania and by the positive performance in other Eastern European countries. The NIVEA Deo, SUN & Lip Care and Eucerin Face, Sun & Body categories performed especially well in the region. In Russia, business with La Prairie was reduced completely and with other products in the consumer segment significantly. Due to the reduced business activities in Russia and the conflict in Ukraine, growth in Eastern Europe was below average.

In the Americas region, the Consumer Business Segment achieved strong organic sales growth of 23.2%. At €1,841 million, nominal sales were up 41.4% on the previous year (€1,302 million).

In North America, there was positive organic sales growth of 17.6%. The Coppertone, Aquaphor, and Eucerin brands were the key growth drivers.

Very good organic sales growth of 28.6% was also achieved in Latin America. Nominal sales in the region rose by 43.4% due to the substantial exchange rate effects. Sales growth was seen in almost all countries. This was particularly strong in Brazil and Mexico. Both NIVEA and Eucerin were strong growth drivers.

Sales in the Africa/Asia/Australia region grew by 10.2% in organic terms. In nominal terms, sales rose by 14.0% to €2,186 million (previous year: €1,917 million). Sales trends were especially positive in Indonesia, India, Nigeria, and South Africa. In particular, NIVEA Deo, Face, and SUN all performed very well. Eucerin also achieved strong growth in the region, especially in China.

Consumer Sales

(in € million)

Consumer Sales (bar chart)

Consumer Sales by Region

(in %)

Consumer Sales by Region (pie chart)

EBIT Consumer

excluding special factors (in € million)

Consumer EBIT  (bar chart)

Consumer Sales in Europe

(in € million)

Consumer Sales in Europe (bar chart)

Consumer Sales in America

(in € million)

Consumer Sales in the Americas (bar chart)

Consumer Sales in Africa/Asia/Australia

(in € million)

Consumer Sales in Africa/Asia/Australia (bar chart)



Sales – tesa Business Segment(in € million)







Change (in %)



Jan. 1 – Dec. 31, 2021


Jan. 1 – Dec. 31, 2022










































The total comprises the sales of the tesa Industry, Consumer, and Others divisions.

tesa achieved very healthy organic sales growth of 8.8% in 2022 in a difficult market environment. Positive exchange rate effects impacted this development by 3.3 percentage points. In contrast, the sale of tesa Labtec in the third quarter had a negative impact on sales of 0.8 percentage points. In nominal terms, sales therefore rose by 11.3%, from €1,498 million in the previous year to €1,668 million.

In Europe, organic sales were up by 7.6%. The Industry division achieved significant increases in all markets. Price rises were implemented to counter cost pressure from materials, logistics, and energy price inflation. tesa’s Consumer division also continued its growth on the back of a healthy prior-year period. In a difficult market environment, sales in the end consumer business, including via digital sales channels, trended upwards. In nominal terms, tesa generated European sales of €796 million (previous year: €766 million). The region’s share of Group sales fell to 47.7% (previous year: 51.1%).

In North and South America, tesa achieved a very positive sales trend with organic growth of 13.7%. Sales in the Industry division made a substantial recovery and recorded growth particularly in the automotive market. Sales in the end consumer business in Latin America also developed very positively. The region’s sales were up by 26.4% in nominal terms to €285 million (previous year: €225 million). The region’s share of Group sales rose to 17.1% (previous year: 15.0%).

In Asia, tesa achieved organic sales growth of 8.4%, particularly due to new project business with products for the electronics industry. The recovery in the automotive sector led to additional business in this region, too. In nominal terms, sales in Asia increased by 15.8% to €587 million (previous year: €507 million). The region’s share of Group sales rose to 35.2% (previous year: 33.9%).

EBIT excluding special factors increased to a total of €278 million (previous year: €253 million). The EBIT margin excluding special factors was 16.7% (previous year: 16.9%). The special factors in the tesa Business Segment in the amount of €14 million (previous year: €0) mainly involved an impairment loss on the goodwill of tesa Twinlock of €8 million and the loss from the sale of tesa Labtec of €6 million. The operating result including special factors stood at €264 million (previous year: €253 million), while the EBIT margin was 15.8% (previous year: 16.8%).

Sales tesa

(in € million)

tesa Sales (bar chart)

tesa Sales by Regions

(in %)

tesa Sales by Region (pie chart)

EBIT tesa

excluding special factors (in € million)

tesa EBIT (bar chart)


Sales in tesa industry increased considerably. Alongside successful project business in consumer electronics and the recovery in automotive markets, price increases contributed in significant part to this trend. The Industry division recorded organic sales growth of 10.0%. Nominal sales climbed by 13.3% to €1,297 million (previous year: €1,145 million). The share of the Industry division in total sales was 77.8% (previous year: 76.4%).

In consumer electronics, tesa once again grew strongly and further enhanced its position as an important provider of innovative products and solutions for the manufacture of smartphones and tablets. The range for assembling front and rear modules and for battery mounting was developed further and translated into bespoke solutions. tesa gained market share in a sharply deteriorating overall market environment.

The automotive and electrical systems businesses achieved double-digit growth in 2022. This was partly due to strong market growth in the second half of the year on the back of a weaker prior-year period dominated by shortages in the semiconductor industry. In addition, the automotive business grew through successful project business in e-mobility, particularly with adhesive solutions for components to affix displays, for e-batteries, and for vehicle design. tesa continued its targeted expansion of the product range in close cooperation with automotive manufacturers and suppliers and invested further in research and development in line with the transformation of the automotive industry.

tesa further expanded its activities in the printing and paper business. In particular, the strong product portfolio in flexographic printing contributed to this growth. tesa continues to benefit from a growing market in the packaging industry all around the world.

In building industries, business activity declined during the reporting year. High real estate prices, the sharply increased cost of building materials, and interest rate hikes dented market performance particularly in the United States, where tesa provides airtight and waterproof adhesives for the construction and building supplies industry.

The industrial distribution business grew globally in 2022. This was due to the targeted addition of sustainable adhesive tapes to the product portfolio, an expansion of business with industrial converters, and the implementation of price rises. Business performance in Europe saw a downturn in the fourth quarter.

Until September 30, 2022, tesa’s portfolio also included Labtec GmbH with its applications for the pharmaceutical industry. Labtec GmbH was sold to the French company AdhexPharma.


Organic sales in the consumer division increased by 5.1%. In nominal terms, this translated to growth of 4.9%, lifting sales to €363 million (previous year: €346 million). As a result, the Consumer division contributed 21.8% (previous year: 23.1%) of tesa’s total sales in the reporting year.

Business with private consumers and professional tradespeople grew moderately in Europe and markedly in Latin America. Significant price adjustments along with product launches and successfully realized customer projects contributed to this.

Sales channels for professional tradespeople and stationery showed particularly strong growth. The hardware store business, which was partly affected by COVID-19 lockdowns in the previous year, contributed to the positive sales growth. E-commerce accounts were unable to escape the negative market trend and fell short of the previous year’s figures, which had been bolstered by strong market growth.

Product ranges driving growth chiefly included tesamoll®, packaging tapes and tapes for painters and repairs. For the latter, tesa made changes to the product range and shelf presentation in hardware stores. In the bathroom accessories category, tesa sells products that are quick and easy to mount with the innovative “nie wieder bohren” technology. Newly introduced product options, expanded distribution, and media campaigns enabled tesa to further enhance its market position in 2022.