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The world’s number one cosmetics company unveiled spectacular 2022 results on Thursday 9 February. Despite a significant slowdown in China, activity has been maintained in the rest of the world, allowing L’Oréal to post record sales and increased net profits.
With an increase of 10.9% at constant exchange rates and scope of consolidation, L’Oréal reached a record turnover of 38.26 billion euros in 2022, while analysts were expecting 38 billion euros. 28% of these sales were generated via e-commerce.
All geographic zones showed an increase in activity : +11.6% in Europe, +10.4% in North America, +6.6% in North Asia, +22% in the zone encompassing South Asia, the Pacific, the Middle East, North Africa and Sub-Saharan Africa and +18.6% in Latin America.
L’Oréal’s operating profit will be 7.46 billion euros, compared to 6.16 billion euros in 2021.
“L’Oréal is coming out of 2022 stronger and reinforcing its position as the world’s No. 1 beauty company”, said Nicolas Hieronimus, Chief Executive Officer of L’Oréal. He added : “Aware of the current uncertainties, we are nevertheless still ambitious for the future, optimistic about the outlook for the beauty market and confident in our ability to once again outperform the market and achieve another year of growth in sales and results in 2023”.
A very respectable end to the year
A good surprise: L’Oréal maintained the tempo even at the end of the year. Analysts surveyed by FactSet were expecting sales of 10.18 billion euros in the fourth quarter. The disruptions related to Covid-19 in China indeed continued to slow down sales of its Luxury division in the fourth quarter. But in the end, sales of the owner of Lancôme, Garnier and Maybelline, grew by 8.1% to 10.32 billion euros in the quarter ended December. The pace has admittedly slowed slightly from the +9.1% recorded in the third quarter. But despite a considerable slowdown in China in the second quarter, activity was maintained thanks to a 9.4% increase in the United States and 8.1% in Europe.
L’Oréal Luxe’s sales rose by 5.5% in the fourth quarter, to 4.15 billion euros, while the Consumer division grew by 7.5%, to 3.7 billion euros. The Active Cosmetics division improved its sales by 19.4% compared to the fourth quarter of 2021, while Professional Products sales rose by 8.1%.
Increased stock market activity
Despite the slowdown in China, Nicolas Hieronimus announced that he expected business to pick up from the second quarter onwards.
This message was received loud and clear by the stock market, which also welcomed these fine 2022 results. Net earnings per share were 11.26 euros, up 27.6% on 9 February at 6pm. The L’Oréal Group also announced the payment of a dividend of 6 euros per share for the past fiscal year at the next general meeting, compared to 4.8 euros for fiscal year 2021.
Read also >Despite poor 2022 results, Meta’s share price soars
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The world’s number one cosmetics company unveiled spectacular 2022 results on Thursday 9 February. Despite a significant slowdown in China, activity has been maintained in the rest of the world, allowing L’Oréal to post record sales and increased net profits.
With an increase of 10.9% at constant exchange rates and scope of consolidation, L’Oréal reached a record turnover of 38.26 billion euros in 2022, while analysts were expecting 38 billion euros. 28% of these sales were generated via e-commerce.
All geographic zones showed an increase in activity : +11.6% in Europe, +10.4% in North America, +6.6% in North Asia, +22% in the zone encompassing South Asia, the Pacific, the Middle East, North Africa and Sub-Saharan Africa and +18.6% in Latin America.
L’Oréal’s operating profit will be 7.46 billion euros, compared to 6.16 billion euros in 2021.
“L’Oréal is coming out of 2022 stronger and reinforcing its position as the world’s No. 1 beauty company”, said Nicolas Hieronimus, Chief Executive Officer of L’Oréal. He added : “Aware of the current uncertainties, we are nevertheless still ambitious for the future, optimistic about the outlook for the beauty market and confident in our ability to once again outperform the market and achieve another year of growth in sales and results in 2023”.
A very respectable end to the year
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The world’s number one cosmetics company unveiled spectacular 2022 results on Thursday 9 February. Despite a significant slowdown in China, activity has been maintained in the rest of the world, allowing L’Oréal to post record sales and increased net profits.
With an increase of 10.9% at constant exchange rates and scope of consolidation, L’Oréal reached a record turnover of 38.26 billion euros in 2022, while analysts were expecting 38 billion euros. 28% of these sales were generated via e-commerce.
All geographic zones showed an increase in activity : +11.6% in Europe, +10.4% in North America, +6.6% in North Asia, +22% in the zone encompassing South Asia, the Pacific, the Middle East, North Africa and Sub-Saharan Africa and +18.6% in Latin America.
L’Oréal’s operating profit will be 7.46 billion euros, compared to 6.16 billion euros in 2021.
“L’Oréal is coming out of 2022 stronger and reinforcing its position as the world’s No. 1 beauty company”, said Nicolas Hieronimus, Chief Executive Officer of L’Oréal. He added : “Aware of the current uncertainties, we are nevertheless still ambitious for the future, optimistic about the outlook for the beauty market and confident in our ability to once again outperform the market and achieve another year of growth in sales and results in 2023”.
A very respectable end to the year
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