L’Oréal has released its H1 21 results, very slightly above (+1.5%) consensus expectations. All divisions experienced double-digit growth except for Consumer Product. The heavier exposure to the make-up business has slowed the recovery pace of the division.
The healthy profitability driven by the rapid margin recovery in the Professional Product and L’Oréal Luxe was encouraging.
With several smashing forecasts publications seen this week, the moderate beat is not enough to comfort the market.
Companies: L'Oreal (OR:EPA)L'Oreal SA (OR:PAR)
L’Oréal has released revenue growth of 10.2% lfl.
The growth was mainly driven by Mainland China. Sales jumped 37.9% lfl, benefiting from group’s strong online penetration in the country and lower comparisons.
But, interestingly, the strong rebound in the Chinese market did not make the L’Oréal luxe shine as much as the market expected. Active cosmetics and Professional products continued to be the firepower.
L’Oréal will continue to benefit from its leadership in the dermo-cosmetics market a
The year-end trading performance was above consensus expectations, all divisions experienced better than expected performances except for the consumer products division, which was impacted by its higher footprint in the make-up business.
The group has grown its footprint in e-commerce from 16% to 27% and skincare exposure from 35% to 40% in 2020, which has helped the group to maintain the operating margin at the pre-crisis level and confirmed the group’s incredible agility to catch the marke
Companies: L'Oreal SA
The world’s cosmetic leader has released better-than-expected Q3 20 figures, comfortably outperforming the global beauty market.
The strategic bet to resume product launches and marketing actions ahead of its peers has borne fruit, the group having gained market share in all geographies during the downturn.
The strong momentum in the professional product and active cosmetics divisions, along with higher e-commerce penetration across all geographies have given the group confidence in its abil
Despite the strong rebound in China, all divisions have been heavily impacted by the pandemic in the last three months, especially those with the greatest exposures to makeup products which have been most impacted. Unlike the top-line trend, the group has maintained its good profitability, especially in the Active cosmetics division.
The group is now expecting slightly positive growth in H2 20, which was not encouraging enough since the market anticipates a sales contraction of 4% for FY 20.
The group has released a very strong year-end trading performance, especially in Asia Pacific. The better than expected revenue growth (9.6% lfl vs. consensus of 7.4%) in Q4 has led the group to finish the year with 8.0% lfl top-line growth and an improved operating margin of 18.6%.
Following an annual lfl revenue growth of 25.5%, Asia Pacific (32.3%) has overtaken Europe in becoming the group’s biggest region in terms of sales contribution.
L’Oréal has unexpectedly announced the best quarterly growth in more than a decade, after a slowing Q2 19, by showing strong business resilience.
Although the sluggish demand in the US make-up market has persisted, we believe that the strong appetite of Chinese consumers for luxury cosmetics and the booming dermo-cosmetics market could offset the weakness in the US.
Most importantly, we are upbeat about China’s rising demand for fragrances.
L’Oréal has slowed down in Q2 due to lacklustre demand for make-up in the US. These tough conditions are expected to persist in H2. L’Oréal intends to acquire Mugler and Azzaro.
L’Oréal has reported better than expected sales in Q1. Organic growth reached 7.7%, boosted by 14.2% lfl growth in luxury products, 13% growth in active cosmetics and a 23.2% increase in Asia.
L’Oréal has accelerated its organic growth in Q4 to 7.7%. Full-year sales were up 7.1% at CER (+3.5% reported) to €26.9bn. The recurring operating margin increased by 30bp to 18.3% and the underlying operating profit edged up 5.3% to reach €4.9bn. The group will distribute a dividend of €3.85 per share.
The appetite of Chinese consumers for luxury cosmetics delivered the highest quarterly growth rate in a decade for L’Oréal. Sales were up 7.5% lfl in Q3. Ytd sales increased by 6.8% lfl (+1.8% reported) to €19,864m.
Despite contrasting divisional results, L’Oréal reported 6.6% yoy sales growth and an increasing operating margin (+30bp to 19.2%). The Consumer Product division’s sales failed to convince. The Luxury and Active Cosmetics divisions picked up the growth baton.
L’Oréal delivered 6.8% lfl growth in Q1 while reported sales were down 1% due to a negative currency impact. Luxury products were the growth driver thanks to booming demand in China.
L’Oréal ramped up its organic growth in Q4 to 5.5%. Full-year sales have grown by 4.8% lfl thanks to a booming demand for luxury cosmetics in China. New markets were definitely the growth driver. L’Oréal is ready to buy Nestlé’s stake in the company (23.1%) if the latter decides to sell. In this case, L’Oréal’s stake in Sanofi will also be sold.
Another dull quarter from L’Oreal. Group sales were up 5.1% lfl in Q3 to €6,098m. The performance was consistently differentiated between divisions and fuelled mainly by new markets. Luxury products edged up by a double-digit 11.2% lfl in Q3 to reach €2,024m. Consumer products, the largest contributor to sales, reported a modest rise of 2.3% lfl to €2,819m. Active cosmetics made a small step up, growing by 6.2% lfl to €475.7m. Professional Products edged up by a poor 0.5% lfl. For the first nine
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