Beiersdorf shares plunged 12% in Frankfurt trading, wiping out this year's gains after the German consumer goods company forecast a sluggish fiscal year. The Nivea maker expects profit margins to decline and sales to show little change as it struggles to revive its flagship skincare brand amid a broader market slowdown.

The company highlighted Nivea's struggles, attributing poor performance to a restructuring in China and general market weakness. Analysts expressed concern about the fourth quarter results, with Jefferies noting the "miss for the Nivea brand will worry the market." The outlook falls short of investor expectations for a major global player.

CEO Vincent Warnery has been working to revive Nivea with new face care products like the Nivea Epicelline line. Beiersdorf's diversified business includes automotive adhesive products, but the skincare division remains critical to its performance. The stock decline reflects market skepticism about the turnaround strategy.