Overall Assessment of the Group’s Economic Position

The Group generated sales of €9,852 million (previous year: €9,850 million). Organic sales were up by 2.5% (previous year: 6.5%). EBIT excluding special factors was €1,378 million (previous year: €1,370 million). The EBIT margin excluding special factors was 14.0% (previous year: 13.9%).

Despite the demanding economic environment, the Consumer Business Segment recorded solid performance in financial year 2025. The market was affected by macroeconomic uncertainties and geopolitical challenges, but the business segment managed to reinforce its market position through systematic investment in core markets and strategic initiatives. The consistent focus on growth in Skin Care was a key success factor, underpinned by product innovations and an increased orientation on e-commerce. Our online sales registered stronger growth than offline business in the reporting year, underscoring the relevance of our digital strategy.

In 2025, the Consumer Business Segment generated organic sales growth of 2.5% (previous year: 7.5%). This result confirms Beiersdorf’s stability and competitiveness, also against the backdrop of the overall weaker market environment. The continuous strong performance of the Eucerin and Aquaphor Derma brands was a major factor contributing to growth, which also offset some of the weaker performance in the mass market area.

The NIVEA brand saw moderate growth in financial year 2025. The introduction of the NIVEA CELLULAR Epigenetics Rejuvenating Serum and the further development of the deodorant category as part of the Derma Control launch provided particular impetus. The strategic brand realignment process was successfully completed in China. The measures introduced served to stabilize business development and form a solid foundation for further growth in this strategically important market for Beiersdorf and for the launch of Thiamidol® in Mainland China. In China, a strategic brand realignment process was successfully completed by the end of the third quarter, and had a negative effect on NIVEA’s performance in the first nine months of the year.

The Derma business unit, including the Eucerin and Aquaphor brands, recorded above-average performance again in financial year 2025, underscoring its role as key driver of growth in the portfolio. It achieved consistent double-digit organic sales growth and reinforced its market position in all major regions. This was due largely to the systematic expansion of the Face Care business through the continued scaling of innovations based on Epicelline® and Thiamidol®.

The Health Care business also continued its growth trajectory, fueled primarily by innovation-driven impetus such as the launch of Hansaplast Second Skin Protection Plaster, and robust demand in core markets including Australia, Germany, and Indonesia.

Performance was mixed throughout the year in the luxury business. La Prairie continued to be shaped by the challenging market environment in the first half of the year, but showed gradual improvement in business development in the second half, buoyed by stronger momentum in China, particularly in e-commerce.

The operating result (EBIT, excluding special factors) and the EBIT margin increased in the reporting year despite persistent geopolitical tension and a challenging macroeconomic environment. The EBIT margin excluding special factors amounted to 13.6% for the Consumer Business Segment, a year-on-year increase of 20 basis points.

In 2025, the tesa Business Segment achieved organic sales growth of 1.8% (previous year: 1.9%) in a global market environment that remained challenging. Sales to industrial customers increased compared to the previous year. In particular, the Consumer Electronics and Printing & Packaging business areas showed positive business development. The business with end consumers generated sales above the level of the previous year. For tesa, the EBIT margin before special factors amounted to 16.1% (previous year: 16.3%).

Geopolitical crises and conflicts had no material impact on Beiersdorf’s results of operations, net assets, or financial position. In a dynamic and challenging environment, Beiersdorf achieved healthy growth and returns in the 2025 financial year.