When adjusted to take account of exchange rate changes however, Beiersdorf claims that it actually rose by 4 per cent.
The main earner for Beiersdorf was its cosmed division, which accounts for €3.14 billion. But turnover still fell in real terms by 1 per cent. Beiersdorf believes that the disappointing results are partly due to the low dollar exchange rate.P> The medical division earned the company just under 5 per cent with turnover €841 million and its Tesa division figures were over 5 per cent, with a turnover of €696 million.
But the company's dealings in Russia, Brazil and Spain all suffered from low demand. No explanation has yet been given.
The company has been nonethless keen to highlight the positive aspect of the year end results. Despite the difficult market conditions, Beiersdorf did manage to acheive an operating profit of €480 million, €10 million up on last year.