Results of Operations – Business Segments

Consumer

Consumer

Sales in the Consumer Business Segment grew organically by 2.5% in 2025. Exchange rate effects reduced growth by 2.3 percentage points. In nominal terms, sales therefore increased by 0.2% to €8,176 million (previous year: €8,162 million).

Despite a challenging year in global markets, NIVEA (including Labello) was able to increase its market share in Japan, Mexico, Spain, and Italy. Market share losses were recorded in Germany, Poland, Thailand, and Indonesia. The Derma business unit, with the Eucerin and Aquaphor brands, increased its market share across all regions and major categories, with particularly strong developments in Brazil, Mexico, Thailand, the USA, Sweden, and Belgium. The Health Care business unit continued its positive development and grew in many core markets. With market share gains and the strong performance of its successful Hansaplast Second Skin Protection Plaster product line, it further strengthened its position as market leader.

EBIT excluding special factors amounted to €1,108 million (previous year: €1,094 million), while the EBIT margin excluding special factors was 13.6% (previous year: 13.4%). The increase in EBIT compared to the previous year is primarily due to efficiency gains, which more than compensated for the gross margin development. The special factors in the Consumer Business Segment came to €39 million (previous year: €67 million). For further details regarding the composition of special factors, please refer to the table “Special Factors” in the “Result of Operations – Group” Section. The operating result including special factors stood at €1,069 million (previous year: €1,027 million), while the EBIT margin was 13.1% (previous year: 12.6%).

NIVEA (including Labello) grew organically by 0.9% globally in 2025. Nominal sales decreased from €5,601 million to € 5,529 million. The growth of the NIVEA brand was driven by price, while the volume effect had a negative impact. The brand recorded particularly strong sales growth in Nigeria, India, Turkey, Japan, and the United Kingdom, whereas France, the Netherlands, Poland, Brazil, Indonesia, and China experienced a moderate to more significant decline in sales. The main growth drivers for NIVEA were Universal Creams and NIVEA Sun.

At the product level, NIVEA Deo had a challenging year, in which the Protect & Care, Dry, and Skin Tone Management lines in particular declined. These negative developments could not be offset by the positive sales increases, for example from the launch of the NIVEA Deo Derma Control range. The launch of the new NIVEA CELLULAR Epigenetics Rejuvenating Serum marked the most significant product introduction in the NIVEA Face Care category in 2025. With strong contributions from the NIVEA Soft, NIVEA Sun Protect & Moisture and NIVEA Body Care Milk product lines, NIVEA demonstrated that it can achieve growth not only through innovative new products but also with its core products.

The Derma Business Unit recorded organic growth of 11.7% and achieved nominal sales of €1,492 million (compared to €1,372 million in the previous year). All regions and many brand categories contributed positively to sales growth. The Emerging Markets again proved to be the most important growth driver for Derma in 2025, driven by solid development in Latin America, particularly Brazil and Mexico, as well as in Thailand. North America ranked second, where all brand categories recorded growth and Aquaphor in particular achieved strong results. A decline in sales was recorded in Argentina. Overall, Derma’s success was driven primarily by innovative developments. The Eucerin face category benefited from the continued strong performance of innovations such as the Epigenetics Serum. Another growth factor was the ongoing expansion of the Thiamidol® product line, both regionally – with the introduction of Radiant Tone in the USA and of Thiamidol® in mainland China – and in terms of categories, through the strong growth figures of our innovative Anti-Pigment Body solutions. The e‑commerce sales channel once again grew faster than the offline business.

Health Care recorded organic sales growth of 9.3%, reaching €299 million (compared to €282 million in the previous year). The wound care category proved to be a key sales driver, supported by the launch of the successful Second Skin Protection Plaster range. In addition, large plasters once again recorded double‑digit growth and were able to grow in all key markets.

In selective cosmetics, our La Prairie brand’s organic sales were down by 4.5%. Nominal sales fell from €509 million to €478 million. This result is essentially attributable to challenges in China, specifically in travel retail, where the premium skincare market declined by double digits. By contrast, the e‑commerce channel continued to develop positively, with a focus on China. The market launch of White Caviar L’Extrait, Pure Gold Revitalizing Essence and the two formats of the Skin Caviar Hydro Emulsion helped to partially offset the decline in sales.

In the Europe region, organic sales were up 0.9% on the previous year. Nominal sales climbed by 1.2% to €3,590 million (previous year: €3,546 million).

In Western Europe, organic sales rose by 1.8%. In Italy, Spain and the United Kingdom, moderate growth was achieved, while France and Switzerland recorded a moderate decline. Sales in the NIVEA categories Universal Creams, Sun, and Face Care as well as in the Eucerin categories Body, Face, and Sun developed positively, whereas sales in NIVEA Deo, NIVEA Body Care, and NIVEA Body Cleansing declined slightly. The wound care category within the Health Care business unit also contributed positively to sales growth. For the La Prairie brand, the negative development of the travel retail business had a significant impact.

Sales in Eastern Europe were organically 2.3% below the previous year. Above all in Poland and Romania, sales remained below the previous year. The NIVEA Body Cleansing and NIVEA Face Care categories recorded a decline in nominal sales, while NIVEA Deo achieved slight growth. The Eucerin Face category recorded double‑digit sales growth.

In the Americas region, organic sales grew by 3.1%. At €2,235 million, nominal sales were down to 2.1% on the previous year (€2,283 million).

In North America, organic sales growth of 3.8% was achieved. The Eucerin, Aquaphor, and Chantecaille brands emerged as key growth drivers. Coppertone’s sales remained significantly below the previous year.

Sales in Latin America grew organically by 2.6%. In Mexico, Colombia, and Chile, sales developed positively, while Costa Rica, Panama, and Argentina recorded a greater decline. The NIVEA categories Universal Creams, Body Cleansing, and Body Care achieved strong growth, whereas the Deo, Sun, and Face Care categories remained below the previous year’s level. Eucerin recorded strong development in the Body and Face categories, while the Sun category had to accept a slight decline.

Sales in the Africa/Asia/Australia region grew by 4.5% in organic terms. In nominal terms, sales rose by 0.8% to €2,351 million (previous year: €2,333 million). Sales developed positively in Australia, Japan, Nigeria, India, Saudi Arabia, Thailand, and Turkey, while declines were recorded in China, Indonesia, and Dubai. Moderate growth was achieved in the NIVEA categories Universal Creams and Body Care, whereas the Deo category was slightly below the previous year. Eucerin also achieved strong growth in the region, especially in the Face and Body categories. Health Care additionally recorded strong development in the wound care segment.

Consumer Sales

(in € million)

Consumer Sales by Region 2025

(in %)

Consumer EBIT

Excluding special factors (in € million)

Consumer Sales in Europe

(in € million)

Consumer Sales in Americas

(in € million)

Consumer Sales in Africa/Asia/Australia

(in € million)