Germany's Beiersdorf to buy back shares worth $525 million (updated)

Beiersdorf AG

26/02/2025 19:31

Adds details in paragraph 2, background in paragraphs 3-5

Feb 26 (Reuters) - Nivea maker Beiersdorf BEIG.DE said on Thursday it will launch a share buyback program of up to 500 million euros ($524.85 million) in 2025.

The program is expected to commence after the company's 2025 annual general meeting and conclude by the end of the year.

In October, the firm reported a rise in group sales for the first nine months of 2024, and said it expected a strong fourth quarter despite persisting challenges in the Chinese luxury market.

The German skincare company also completed a 500 million euro share buyback program in 2024.

The company will report its full-year 2024 results on Thursday.

($1 = 0.9527 euros)

 (Reporting by Bipasha Dey in Bengaluru; Editing by Alan Barona)

 ((Bipasha.Dey@thomsonreuters.com))