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Beiersdorf manufactures and distributes consumer goods. Co. operates in two business segments: consumer, which is Co.'s main business that focuses on the skin and body care markets, with products including NIVEA's Deodorant Invisible for Black & White, NIVEA Deodorant Stress Protect, NIVEA In-Shower Body Lotion, NIVEA Cellular Anti-Age face care, and Eucerin's VOLUME-FILLER; and tesa, which develops, produces, and markets self-adhesive products and system solutions for industry, craft businesses, and consumers. In the electrical industry, the tesa business segment's adhesive systems are used in mobile devices such as smartphones, tablet personal computers, and MP3 players.
Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.
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We think Beiersdorf can achieve above-industry-average net sales growth in the medium term as a result of white-space geographic opportunities and the potential to take share in adjacent categories, particularly for Nivea. It lags peers on margins, however, and we think a renewed focus on efficiencies will be needed to close the gap. The company's newly announced strategy, C.A.R.E.+ is likely to take margins in the opposite direction, at least in the short term. Beiersdorf will invest a further EUR 70 million to EUR 80 million annually in what management claims will improve the long-term compe...
Narrow-moat Beiersdorf released preliminary sales figures for fiscal 2018 that contained few surprises. Organically, the firm appears to be performing in line with our expectations and we are reiterating our EUR 88 fair value estimate, though we expect to raise it to account for the time value of money when the annual report is released and we update our model. The consumer business continues to perform well, with 5% organic growth in line with our forecasts, although currency weighed slightly ...
In general, Essity is in compliance with the Swedish regulations relating to the organisation and procedures of the AGM. Under ITEMS 12.1-12.9, the (re-)election of the board of directors is proposed.In light of concerns over aggregate time commitments, ECGS recommends to vote OPPOSE to the (re-)election of: Mr. Pär Boman (ITEM 12.2) and Ms. Annemarie Gardshol (ITEM 12.4). Under ITEM 13, the nomination committee proposes to re-appoint Mr. Pär Boman as Chairman of the board of directors. As already mentioned above, ECGS has various concerns over his re-appointment and therefore does not suppo...
In general, Elisa Corporation ("Elisa") is in compliance with the Finnish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 13, approval is sought for the remuneration of the auditor. As non-audit fees paid are greater than 50% of the audit fee on a three-year aggregate basis, ECGS recommends to vote OPPPOSE. Under ITEM 14, the board of directors proposes to re-appoint KPMG as the Company's statutory auditor. ECGS notes that the current auditor has been in office for 15 years and there is no disclosure to suggest that the current mandate has be...
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