Beiersdorf’s Shares and Investor Relations

Following a year of uncertainty in 2024, the economic environment remained challenging in 2025. Global economic performance was mixed, with growth developing more slowly than expected in many markets. Momentum diminished over the course of the year, in particular in emerging markets, driven by geopolitical tensions, continued strain on global supply chains, and muted consumer sentiment overall. Delayed monetary easing and a still restrictive interest rate environment curbed demand in industrialized countries. On the other hand, there were initial signs of stabilization, primarily in some Asian markets, while Europe and North America remained marked by subdued consumer sentiment.

The global capital markets showed high volatility in 2025. Inflation eased at a slower rate than expected, while market sentiment was impacted by geopolitical risks and trade policy uncertainties – particularly in the context of tariffs. At the same time, increasing fiscal stimulus in some regions and expectations of an economic revival in the second half of the year resulted in mixed performance on the stock markets.

In this environment, Beiersdorf’s shares delivered below-average performance in 2025 compared with previous years. After a weaker start to the year, shaped primarily by sluggish market performance in the consumer goods segment and the strategic realignment in China, the share price remained under pressure for the remainder of the year. Beiersdorf’s shares reflected both the subdued performance in the mass market segment and investors’ uncertainty regarding short-term growth prospects. Conversely, the strong performance of the Derma business and the successful introduction of key innovations had a stabilizing effect. Overall, share price development continued to reflect a challenging market environment that nonetheless has a fundamentally positive outlook in the medium to long term. The strategic focus on skin care, systematic leverage of innovation, and targeted development of white spaces continue to form the foundation for sustainable and profitable growth. The strong balance sheet and high cash flow have also secured financial flexibility for the company for future investments and potential returns of capital to shareholders.

At the end of the year, Beiersdorf’s shares closed at €93.68, a decline compared to the previous year. Despite this development, the company’s long-term prospects remain intact thanks to its innovative strength, strong brands, the development of new business areas, and a strategy geared towards long-term value creation with a focus on profitable growth.

The 2025 Annual General Meeting was once again held virtually at the company’s headquarters in Hamburg, Germany. Shareholders and interested parties had the opportunity to follow the event online and play an active role. The virtual speakers’ desk enabled direct dialogue with the Executive Board and helped to ensure transparency and interaction even in the digital format.

Capital markets communication in 2025 centered around the innovation strategy and continued focus on skin care as Beiersdorf’s core competency. The Derma division was once again the Group’s growth driver and achieved continued strong growth momentum in several regions. The global scaling of the Epicelline® innovation under the Eucerin and NIVEA brands was particularly successful, quickly establishing itself as one of the most successful product launches in company history. The continued expansion of Thiamidol® and targeted portfolio adjustments in China underscored our strategic ambition to generate sustainable growth through science-based innovations. The NIVEA core portfolio was also strategically re-balanced, in order to distribute the focus more broadly beyond face care to the other skin care categories and the deodorant segment.

In the reporting year, 21 financial analysts regularly published studies on Beiersdorf, with the majority of them recommending Beiersdorf shares as a buy.

For more information on Beiersdorf’s shares please visit:
www.beiersdorf.com/investor-relations/shares/share-price

For more information on Investor Relations please visit:
www.beiersdorf.com/investor-relations

Analyst Recommendations

as of Dec. 31, 2025 (in %);
percentages may not total 100% due to rounding

Shareholder Structure

as of Dec. 31, 2024 (in %);
percentages may not total 100% due to rounding

Beiersdorf’s Share Price Performance 2025

Jan. 1 – Dec. 31; relative change in % based on the opening price 2025