Beiersdorf raised its sales forecast for 2024 on Tuesday, buoyed by strong first-quarter sales of its flagship Nivea brand in all regions. The German group is now expecting sales growth of between 6% and 8%, compared with a forecast of around 5% in February.

Beiersdorf posted sales of €2.6 billion in the first quarter, up 7.3% year-on-year and ahead of analysts’ expectations for a 6.2% rise according to a Vara Research consensus.

Sales of its consumer skincare division rose by 10% in the first quarter, offsetting a 5.4% fall in sales of its Tesa division, which makes adhesives for industry.