Middle East
Continued Strong Growth and Market Outperformance
Further Operating Margin Improvement
- Sales: 22.12 billion euros, +7.3% like-for-like1, +7.5% reported.
- Continued outperformance of the global beauty market.
- Positive momentum in all Divisions, led by Dermatological Beauty and Consumer Products. Sequential acceleration of L’Oréal Luxe in the last two quarters.
- Double-digit growth in Europe and Emerging Markets. Rhythm in North America maintained throughout the first half.
- Growth driven by a combination of value and volume.
- Progress balanced between offline and online.
- Operating margin at 20.8%, up 10 basis points.
- Net profit increased by +8.8% to 3.65 billion euros.
- Moody’s once again awarded L’Oréal 74 points out of 100 in its ESG Assessment, well above the sector average.
Commenting on these figures, Nicolas Hieronimus, CEO of L'Oréal, said:
“In the first half, we delivered strong growth of +7.3%, well-balanced between value and volume and strengthened our global leadership in a beauty market that remains dynamic.
Our continued strong momentum in emerging markets, Europe and North America allowed us to more than offset the depressed beauty market in mainland China and the unfavourable comparative in Travel Retail. In this context, I am particularly pleased to see the acceleration of L’Oréal Luxe, the dynamism of Consumer Products and the continued share gains of Dermatological Beauty and Professional Products.
The combination of our powerful R&I and unique marketing creativity allowed us to offer consumers groundbreaking innovations. The consistent increase of our A&P spend to support these innovations and our 37 international brands allowed us to, once again, outpace the global beauty market.
In an environment that continues to be marked by economic and geopolitical tensions, we remain optimistic about the outlook for the beauty market and confident that our innovation power and the robustness of our multi-polar model will allow us to keep outperforming it and to achieve another year of growth in sales and profit.”
The Board of Directors has decided, under the authorisation approved by the Annual General Meeting of 23 April 2024, to set up a share buyback programme during the second half of 2024 amounting to a maximum of 500 million euros and with a maximum number of shares to be acquired of 2 million. The shares thus repurchased are intended to be cancelled2.
Discover more here or in the attached document.