Key takeaways
- Beiersdorf delivered organic sales growth of 2.4% in 2025, reaching €9.9bn
- NIVEA growth slowed amid a challenging mass-market environment
- The company is rebalancing the NIVEA portfolio to improve momentum
- Derma brands Eucerin and Aquaphor grew 11.7%, marking a fifth year of double-digit gains
- Beiersdorf expects flat sales in 2026 due to continued volatility and cautious consumer demand
German health and beauty company Beiersdorf closed the 2025 financial year with €9.9bn in sales, up 2.4% year on year organically. However, it said the mass‑market skincare category remains challenging.
CEO Vincent Warnery said 2025 had been a demanding year for the skincare industry, with slowing growth and ongoing market volatility, but noted that Beiersdorf had delivered solid results and outperformed the global market for the category.
“Our Derma business continued its strong momentum, driven by breakthrough innovations and targeted expansion into white spaces,” he said.
NIVEA slows as mass‑market skincare faces renewed pressure
Beiersdorf’s flagship brand NIVEA saw slower growth in what Warnery described as “a challenging mass-market environment”.
“This is why we have initiated a focused rebalancing of the NIVEA portfolio to restore momentum over time,” he said. “With strong brands, deep skin care expertise and a clear strategic focus, Beiersdorf remains well positioned, even as market conditions remain volatile in 2026.”
Despite the slowdown in the wider market, Beiersdorf’s skincare business grew organically by 3.7% in 2025 and continued to outperform competitors. The company said it remains as the fastest‑growing skincare business globally.
Sales for NIVEA grew by 0.9% in 2025, reaching €5.5bn. Performance reflected the marked global slowdown in skincare, as well as a repositioning of the business in China. Breakthrough launches such as NIVEA Cellular Epigenetics Rejuvenating Serum strengthened its offer.
Beiersdorf’s restructuring of the NIVEA business in China temporarily affected performance during the year. After the realignment was completed at the end of the third quarter, NIVEA returned to double‑digit growth in China in the fourth quarter.
In response to evolving market conditions, Beiersdorf initiated a recalibration of its NIVEA strategy in 2025. In recent years, the strategy focused heavily on face care, however the updated strategy will put more equal investment into body care and deodorants, and facial skincare will be more focused on accessible face care propositions.
Beiersdorf will continue to rely on global innovation platforms while giving major markets, including China, the US, India, Japan and Brazil, greater flexibility to adapt portfolios and execution to local needs.
The recalibration began in the second half of 2025, with adjustments to the innovation pipeline and marketing investments set to continue through 2026 and 2027.
Derma innovations fuel strong performance for Eucerin and Aquaphor
The Derma business segment, home to Eucerin and Aquaphor, grew by 11.7% in 2025, reaching €1.5bn in nominal sales. This marked the fifth consecutive year of double‑digit growth, driven largely by the success of innovations such as the Epigenetics Serum.
The e‑commerce channel grew faster than offline retail.
La Prairie continued to lose traction, with sales declining by 4.5% to €478m. However, repositioning efforts and an improving market environment in China drove sequential improvements through the year, with the brand closing the fourth quarter with 3.8% organic net sales growth.
Outlook for 2026: Flat sales expected amid global market volatility
Looking forward, Beiersdorf said it expects flat sales in 2026 as the global skincare market is set to remain challenging, marked by volatility and cautious consumer spending.
The first quarter is expected to be below the full‑year range, impacted by disruptions in US retail and China travel retail, as well as a lower contribution from NIVEA innovations compared with the final quarter of 2025.
