Beiersdorf Upbeat on 2002, 2003 Sales

Beiersdorf AG, Frankfurt, Germany, the maker of Nivea products, expects 2002 sales to rise 4% for the year to EUR4.7 billion. Net profit should rise about 5% to EUR275 million, according to chief financial officer Rolf-Dieter Schwalb in the Frankfurter Allgemeine Sonntagszeitung.

Mr. Schwalb said the company aims to grow about the same amount in 2003 thanks to expanding market share, but that won’t be sustainable in the medium term due to stagnating markets in Europe and America. Separately, Mr. Schwalb said Beiersdorf’s chances of entering Germany’s DAX 30 index of blue chip stocks should improve once there’s clarity over its future shareholder structure.

“As soon as it’s clear whether the majority shareholder will change, we will have a good chance, if there’s a candidate who might exit,” Mr. Schwalb said.

Global rivals Procter & Gamble Co. and L’Oreal SA have shown interest in buying the Beiersdorf stake owned by German insurance giant Allianz AG.