Financial Analyst Meeting

Hamburg, March 4, 2010

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Disclaimer

Some of the statements made in this presentation contain forward-

looking information that involves a number of risks and uncertainties.
Such statements are based on a number of assumptions, estimates,
projections, or plans that are inherently subject to significant risks, as
well as uncertainties and contingencies that are subject to change.
Actual results of events could differ materially from those anticipated in
the Company´s forward-looking statements as a result of a variety of
factors, including those set forth from time to time in the Company´s
press releases and reports and those set forth from time to time in the
Company´s analyst calls and discussions. We do not assume any
obligation to update the forward-looking statements contained in this
presentation.

This presentation does not constitute an offer to sell or a solicitation or

offer to buy any securities of the Company, and no part of this
presentation shall form the basis of or may be relied upon in connection
with any contract or commitment. This presentation is being presented
solely for your information and is subject to change without notice.
AGENDA

Focus on our Strengths

in a New Reality
Thomas-B. Quaas (CEO)

Financials
Dr. Bernhard Düttmann (CFO)
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Beiersdorf Development - Group

Sales Earnings Before Interest and Tax
(in mill. €)

5,971 684 696

5,748
5,507
5,120 597 587
4,776 531

2005 2006 2007 2008 2009 2005 2006 2007 2008 2009

Growth (organic) – Group EBIT margin

+3.9% +7.3% +9.1% +7.5% -0.7% 11.1% 11.7% 12.4% 11.7% 10.2%

EBIT 2006 – 2008 excluding special factors (due to the realignment of the Consumer Supply Chain and divestments)
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Beiersdorf Development - Consumer

Sales Earnings Before Interest and Tax
(in mill. €)

5,125 5,011 615

4,661 596
558
4,327 524
4,041
470

2005 2006 2007 2008 2009 2005 2006 2007 2008 2009

Growth (organic) – Consumer Segment EBIT margin

+4.0% +7.2% +9.3% +8.6% +1.2% 11.6% 12.1% 12.8% 12.0% 11.1%

EBIT 2006 – 2008 excluding special factors (due to the realignment of the Consumer Supply Chain and divestments)
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Group: Mastering Crisis Year 2009

 Realistic assessment of the situation

 Flexible and fast reaction in the whole company

 Group-wide fixed cost management

 Marketing and R&D investments remained at high level

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Consumer: Mastering Crisis Year 2009

 NIVEA – strengthening our superior brand:
 Leveraging high level of NIVEA trust &
communicating the No.1 positions
 Opening of new “NIVEA Haus” in Berlin
 Value oriented consumer activities
 Regional focus on Asia:
 New factory in Shanghai / capacity enlargement
in Thailand
 Executive Board member for Asia
 Supply Chain:
 Quick response
 Higher flexibility
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tesa: Mastering Crisis Year 2009

 Flexible package of measures
 Capacity adjustments (Malaysia, Harrislee)
 Outsourcing of logistics (Offenburg)
 Use of reduced working hours

 Investments in new business areas

 Medical plasters and special products for new
touchscreen cellphones (Hamburg cleanroom
technology)
 Development of new doubled-sided adhesive
tapes
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The New Reality

Continuing economic uncertainty and volatility

Moderate market growth

Changed behavior of retailers

Changed behavior of consumers

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Superior Success Factors in the New Reality

 Flexibility and quick reaction time

 Closeness to customers and consumers

 Trust in our brands

Focus on our strengths

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Actions Needed in the New Reality

 Fast and flexible actions to reach business targets

 Maintain marketing and R&D investments at high level

 Focus on shopper driven supply chain

 Emphasize all relevant price points with basic products

 Focus on core brand values

 Advertise and emphasize #1 positions

Source: GfK 2009

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Consumers Trust in NIVEA

Most trusted
Skin Care Brand

NIVEA took the top spot Number 1 in all 16 participating countries

for the 10th consecutive year
Source: Most Trusted Brands Study 2010
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Strong Brand is an Advantage

NIVEA Market Positions Europe January-December 2009
Country SKIN FACE SUN MEN´S DEO BATH SHOWER HAIR CARE STYLING DECO LIP BABY
Europe West
Austria 1 1 1 1 1 1 4 2 3
Belgium 1 1 1 2 1 2 2 4 3 3 3
France 1 1 2 2 3 8 8 3 3
Germany 1 1 1 1 1 3 2 4 3 5
Greece 1 2 2 1 2 10 6
Ireland 1 1
Italy 1 1 1 1 2 6 3 6 4 4
Netherlands 1 1 1 1 1 2 4 5
Portugal 1 1 1 1 1 4 2
Spain 1 3 2 1 4
Switzerland 1 1 1 1 1 2 1 3 1 2 2
Turkey 2 1 1 1
United Kingdom 1 4 2 2 5 9 1
Europe North
Denmark 1 2 1 2 2 6
Norway 2 1 1 2 7 2
Sweden 1 1 3 2 2 7 2
Europe East
Bulgaria 1 3 1 1 1 4
Croatia 1 1 1 1 2 2
Czech Rep. 1 2 1 2 1 4 3
Estonia 1 3 2 1 6 10
Hungary 1 3 1 2 1 7 3 6 3 4
Latvia 1 3 2 1 5 5
Lithuania 1 1 1 1 3 4
Poland 1 1 3 1 1 1 5 3 1 2
Romania 1 1 1 1 1 4 2
Russia 1 5 2 2 4 2 7
Serbia 1 1 1 1 1 3
Slovak Rep. 1 2 1 2 1 4 4
Slovenia 1 1 1 1 2 2
Ukraine 2 4 3 2 2 6 5

Source: AC Nielsen / IRI

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Focus on Our Face Care Competence:

NIVEA Visage Q10

 NIVEA Q10
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Focus on Face Care Competence

Re-energizing Blockbuster NIVEA Visage Q10

 NIVEA Visage biggest NIVEA category.

 The #1 in face care in Western Europe with 18% market share.

 Beiersdorf was the first to use Q10 in cosmetics against wrinkles and skin aging.

Source: Nielsen Market Share 12/2009

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Innovation Focus in Face Care

Eucerin Aquaporin ACTIVE

 Aquaporins control the water transfer into/out of the cells.

 In 2003, Peter Agre obtained a Nobel Prize for

discovering aquaporins.

 Breakthrough formula that activates the skin„s

own moisture network.

 Fortifying Eucerin‟s excellent position in the

pharmacy channel.

 Superior moisturizing technology to be

transferred to the NIVEA skin care line.
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Focus on Skin Care Competence

NIVEA Body

 Strengthening the brand foundation by

serving the core user segment.

 Relaunch and line extension with

additional Q10.

 Creating synergies by adopting face

care expertise.

 Supports NIVEA„s #1 position as the

world„s leading firming and anti-
cellulite brand.

 Launched worldwide in January 2010.

Source: Euromonitor 2008 (value market share)

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Extending Beiersdorf‘s Skin Care Expertise

NIVEA Deo Calm & Care

 The first deodorant that actively

regenerates the skin after shaving.

 Perfect combination of care and

efficacy.

 Our deodorant business is one

of the fastest growing NIVEA
categories.

 Calm & Care has been launched

worldwide in January 2010.
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Consumer Insight

“I prefer skin and beauty care products which contain

natural ingredients.“

“Buying products with natural ingredients is important to me.“

Source: NIVEA Pilot study segmentation 2009

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Launch in the Natural Segment

NIVEA Deo Pure & Natural Action

24h protection without aluminium salts.

Preservatives free / no paraben.

Doesn‟t clog pores.

Lets your skin breathe naturally.

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“The greatest thing in a job is when the

plan you had turns out to work perfectly.“

Jogi Löw, Coach of the German national soccer team

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NIVEA FOR MEN Offensive 2010 in Germany

 NIVEA FOR MEN is the official care

outfitter of the German national soccer
team.
+
 Jogi Löw, coach of the German national
soccer team, became the NIVEA FOR
MEN Care Coach. +
 Business target: Enhancing the market
leadership of NIVEA FOR MEN.

Unique platform for NIVEA FOR MEN in 2010.

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Focus on Our Strengths

Stronger focus on skin care

&
Even closer to our markets
AGENDA

Focus on our Strengths –

in a New Reality
Thomas-B. Quaas (CEO)

Financials
Dr. Bernhard Düttmann (CFO)
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Analyst Quote:

“The company has managed well through the recession.“

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Key Figures

Jan. – Dec. Jan. – Dec. Change

2008 2009 like-for-like

mill. € mill. € in %

Sales 5,971 5,748 -0.7

EBIT 696 587
Profit after Tax 490 380
Return on Sales (EBIT) 11.7% 10.2%
Return on Sales (Profit after Tax) 8.2% 6.6%
Earnings per Share in € 2.48 1.65
Dividend per Share in € 0.90 0.70 (proposal)

- 2008 EBIT and PAT excluding special factors (due to the realignment of the Consumer Supply Chain and divestments).
- Earnings per Share calculated on the basis of the dividend carrying shares.
- 2008 dividend included an extra amount of €0.20.
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Gradual improvement during 2009

Sales development 3M-12M EBIT Ratio change 3M-12M

Like-for-like

11.3% 11.0% 11.1% 11.1%

0.3% 0.9% 1.2%
-0.5%
 Strong against negative seasonal trend
(-120bps 12M vs. 3M in 2008)

-12.2%
-16.9% 3.9%
-21.0% 2.0% 2.3%
-23.8%
0.7%

3M 6M 9M 12M 3M 6M 9M 12M

EBIT excluding special factors Consumer tesa

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Sales per Business Segment

Jan. – Dec. Jan. – Dec. Change

2008 2009
nominal like-for-like

mill. € mill. € in % in %
Consumer 5,125 5,011 -2.2 +1.2

tesa 846 737 -12.8 -12.2

Total 5,971 5,748 -3.7 -0.7

Like-for like changes adjusted for currency translation effects and divestments.
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NIVEA‘s Growth Track Record

NIVEA Sales 1989 – 2009 3,683

(in mill. €)

2,726

1,812

948
509

1989 1994 1999 2004 2009

Index 100 176 336 505 682

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Consumer Sales per Region

(by origin) Jan. – Dec. Jan. – Dec. Change Allocation

2008 2009 like-for-like
mill. € mill. € in % in %
Germany 985 933 +1.2 18.6
Western Europe 1,831 1,736 -3.9 34.7
Eastern Europe 653 567 +1.7 11.3
North America 304 297 +2.5 5.9
Latin America 438 473 +13.3 9.4
Africa, Asia, Australia 914 1,005 +5.0 20.1
Total Consumer 5,125 5,011 +1.2 100.0
thereof China, Russia, Brazil 541 593 +11.6 11.8

Like-for like changes adjusted for currency translation effects and divestments.
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Fostering Our Brand Equity

Marketing expenses
(in mill. €)

1,915
1,842
1,748
1,603
1,417
36.7% 36.7%
36.2% 36.3%

34.3%

31.7% 32.1% 32.0%

31.3%

29.7%

2005 2006 2007 2008 2009

% of sales - Group % of sales - Consumer

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Safeguarding Innovations with Enhanced R&D

Research and development expenses

(in mill. €)

149 149

127 2.6%
118
109 2.5%

2.3% 2.3%
2.3%

2005 2006 2007 2008 2009

% of sales
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EBIT per Business Segment

Jan. – Dec. 2008 Jan. – Dec. 2009

mill. € % of sales mill. € % of sales
Consumer 615 12.0 558 11.1
tesa 81 9.6 29 3.9
Total 696 11.7 587 10.2

2008 EBIT excluding special factors of €101 million (divestments of €96 million and €5 million due to the realignment of the Consumer Supply Chain)
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EBIT per Region

Jan. – Dec. 2008 Jan. – Dec. 2009 Allocation

mill. € % of sales mill. € % of sales in %
Europe 632 15.4 535 14.2 91.1
Americas 37 4.5 20 2.4 3.5
Africa, Asia, Australia 27 2.6 32 2.8 5.4
Total 696 11.7 587 10.2

2008 EBIT excluding special factors of €101 million (divestments of €96 million and €5 million due to the realignment of the Consumer Supply Chain)
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Statement of Income

2008 2009

mill. € % of sales mill. € % of sales

Sales 5,971 100.0 5,748 100.0
Cost of goods sold -1,979 -1,882
Gross profit 3,992 66.9 3,886 67.3
Advertising and promotion spending -1,915 -1,842
Other marketing and selling expenses -959 -924
Research and development expenses -149 -149
General and administrative expenses -292 -283
Other operating income / expenses (net) 120 -81
Operating result (EBIT) 797 13.4 587 10.2
Financial result 25 -4
Profit before tax 822 583
Taxes on income -255 -203
Profit after tax 567 9.5 380 6.6
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Continuous Progress in Working Capital

Working Capital (Consumer Business)

in % of sales

22.5 22.5
19.5
20.9 16.0
16.5 16.1
18.4 15.5 Target below
16.8 12% of sales
13.6
13.4 14.0
12.2 <12.0
11.8

2003 2004 2005 2006 2007 2008 2009 2010

X Average 4 quarters X Average 12 months Due date

2007 and 2008 excluding acquisitions

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Balance Sheet

Assets Liabilities
Dec. 31st Dec. 31st Dec. 31st Dec. 31st
2008 2009 2008 2009
mill. € mill. € mill. € mill. €

Intangible assets 398 382 Equity 2,460 2,636

Property, plant, and equipment 727 725 Non-current provisions 366 359
Other non-current assets 51 70 Other non-current liabilities 242 173

Non-current assets 1,176 1,177 Non-current liabilities 608 532

Inventories 634 561 Current provisions 363 391
Trade receivables 894 906 Income tax liabilities 99 107
Other current assets 254 228 Trade Payables 690 699
Securities 897 955 Current financial liabilities 174 158
Cash and cash equivalents 613 767 Other current liabilities 74 71

Current assets 3,292 3,417 Current liabilities 1,400 1,426

Total 4,468 4,594 Total 4,468 4,594

2008 intangible assets and other non-current liabilities adjusted

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Employees per Business Segment Group

Dec. 31st Dec. 31st Change Allocation

2008 2009
in % in %
Consumer 17,865 16,648 -6.8 81.8
tesa 3,901 3,698 -5.2 18.2
Total Group 21,766 20,346 -6.5 100.0
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Guidance 2010

Projections for Beiersdorf Group

Consumer
 Sales growth faster than market
 EBIT margin > 11% Total Group
 Sales growth faster than market
 EBIT margin > 10%
tesa  PAT margin  7%
 Sales growth faster than market
 EBIT margin > 7%
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How to contact Investor Relations

Beiersdorf Website
www.Beiersdorf.com

IR-Hotline
Tel: +49 (0) 40 4909 5000
Fax: +49 (0) 40 4909 18 5000
Email: Investor.Relations@Beiersdorf.com