Beiersdorf share price down (129.90 euros)

The Beiersdorf share price has fallen by around 1.5% to 129.90 euros on the Frankfurt Stock Exchange.

The decline in the share price comes after the company reported a 1.9% drop in sales in the first quarter of 2023.

The decline in sales was driven by a slowdown in demand for the company's skincare products in China, its largest market. Beiersdorf also cited the war in Ukraine and rising inflation as factors that weighed on its sales.

Despite the decline in sales, Beiersdorf reported a 7.9% increase in operating profit to 245 million euros in the first quarter of 2023. The increase in operating profit was driven by cost-cutting measures and a favorable product mix.

Analysts say that the decline in the Beiersdorf share price is a buying opportunity. They argue that the company is a well-established brand with a strong track record of profitability. They also point to the fact that the company is trading at a discount to its peers.

Beiersdorf is a German multinational company that produces and sells personal care products. The company's brands include Nivea, Eucerin, and La Prairie.