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EssilorLuxottica and L’Oréal published their financial results for the first half of 2022 on Friday.
Despite a tense international context, these two leaders in their field have exceeded analysts’ expectations.
EssilorLuxottica reports net profit of €1.55 billion
EssilorLuxottica, the world’s leading lens company, has reported net profit for the first six months of 2022 of €1.55 billion, up nearly 26% and 18.6% at constant exchange rates.
The global optical giant reported revenue growth of 37% to €12 billion, including like-for-like sales growth of 9.1%. This was driven by an increase in lens sales, which rose by 8.5% to €3.3 billion.
In detail, EssilorLuxottica’s largest market, North America, saw its growth slow but remain positive with an increase of 2.4% to €3 billion, due to a deterioration in the US economy. The EMEA region, its second largest market, saw its turnover jump by 12.4% to 2.3 billion euros. Latin America also saw revenues increase by more than 24%, thanks in particular to Brazil. Finally, the Asia-Pacific region remained stable with growth of 1.7% to €666 million.
L’Oréal’s sales soar in China
L’Oréal, the French cosmetics industrial group, has recorded a net profit share of 3.22 billion euros in the first half of the year, compared to 2.36 billion euros in the first part of 2021. Sales reached EUR 18.36 billion, up 20.9%, of which 13.5% on a like-for-like basis, overcoming the downward trend in the sector in China due to health restrictions, against the backdrop of a rebound in demand for cosmetic products.
Indeed, while many Western brands have recorded a decline in sales in China, where containment measures were imposed in mid-March to combat a resurgence of the Covid-19 epidemic, L’Oréal saw its sales in the country increase by 13% over the April-June period. Nicolas Hieronimus attributed this performance in China to online sales, stressing in an interview with Reuters that L’Oréal was “really thriving” in the country.
The consumer products division, which includes the Maybelline and L’Oréal Paris brands, reported a 9.1% increase in like-for-like sales as consumers shrugged off price increases to continue buying beauty products.
Meanwhile, L’Oréal Luxe, which includes the Yves Saint Laurent brand, reported a 15.3% like-for-like sales increase in the second quarter, outperforming rival LVMH’s perfumes and cosmetics division.
The cosmetics group’s operating profit rose 25.3% to EUR 3.75 billion, and was 20.4% of sales, up 70 basis points.
“We remain optimistic about the outlook for the global beauty market and confident in our ability to outperform the market to achieve another year of sales and earnings growth in 2022,” said Nicolas Hieronimus, Chief Executive Officer of L’Oréal.
Read also > Hermès on a very good run in the first half
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Burberry lance un partenariat avec Roblox pour intégrer l’univers du jeu EssilorLuxottica and L’Oréal published their financial results for the first half of 2022 on Friday. et dévoile des résultats en demi-teinte au premier trimestre, notamment dûs aux confinements stricts en Chine.
Despite a tense international context, these two leaders in their field have exceeded analysts’ expectations.
EssilorLuxottica reports net profit of €1.55 billion
EssilorLuxottica, the world’s leading lens company, has reported net profit for the first six months of 2022 of €1.55 billion, up nearly 26% and 18.6% at constant exchange rates.
The global optical giant reported revenue growth of 37% to €12 billion, including like-for-like sales growth of 9.1%. This was driven by an increase in lens sales, which rose by 8.5% to €3.3 billion.
In detail, EssilorLuxottica’s largest market, North America, saw its growth slow but remain positive with an increase of 2.4% to €3 billion, due to a deterioration in the US economy. The EMEA region, its second largest market, saw its turnover jump by 12.4% to 2.3 billion euros. Latin America also saw revenues increase by more than 24%, thanks in particular to Brazil. Finally, the Asia-Pacific region remained stable with growth of 1.7% to €666 million.
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Burberry lance un partenariat avec Roblox pour intégrer l’univers du jeu EssilorLuxottica and L’Oréal published their financial results for the first half of 2022 on Friday. et dévoile des résultats en demi-teinte au premier trimestre, notamment dûs aux confinements stricts en Chine.
Despite a tense international context, these two leaders in their field have exceeded analysts’ expectations.
EssilorLuxottica reports net profit of €1.55 billion
EssilorLuxottica, the world’s leading lens company, has reported net profit for the first six months of 2022 of €1.55 billion, up nearly 26% and 18.6% at constant exchange rates.
The global optical giant reported revenue growth of 37% to €12 billion, including like-for-like sales growth of 9.1%. This was driven by an increase in lens sales, which rose by 8.5% to €3.3 billion.
In detail, EssilorLuxottica’s largest market, North America, saw its growth slow but remain positive with an increase of 2.4% to €3 billion, due to a deterioration in the US economy. The EMEA region, its second largest market, saw its turnover jump by 12.4% to 2.3 billion euros. Latin America also saw revenues increase by more than 24%, thanks in particular to Brazil. Finally, the Asia-Pacific region remained stable with growth of 1.7% to €666 million.
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