(AOF) – Over the first three months of 2024, L’Oréal’s turnover amounted to 11.24 billion euros, up 8.3% as reported. On a like-for-like basis, i.e. with identical structure and exchange rates, turnover increased by 9.4%. The Europe zone is off to a spectacular start to the year, with a turnover of 3.73 billion euros, an increase of 12.6% like-for-like and 12.2% based on published data. North America’s revenue rose sharply by +12.3% like-for-like and +11.9% based on published data.
In this region, sales amount to 3.01 billion euros.
In addition, the Dermatological Beauty Division recorded remarkable growth of 21.9% like-for-like and 19.6% based on published data. Sales of this division amounted to 2.01 billion euros.
The Professional Products Division recorded strong growth of 10.7% like-for-like and 8.7% based on published data. Sales for this division amounted to 1.24 billion euros. This growth includes a favorable impact of phasing linked to the implementation of new IT systems in North America. This impact represents just under half of the division’s total growth.
Professional Products are progressing in all geographies, with remarkable performances in North America, the United Kingdom, mainland China, Brazil
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Contrasting performances in beauty
Penalized by the Chinese market, Estée Lauder suffered a drop in sales of 10% to $15.9 billion for its 2022-2023 annual financial year, which ended at the end of June. The American group’s net profit even fell by 58% over one year to $1.01 billion. In a dynamic global beauty market, the group is therefore showing poor performance, while its rival, Coty, has published very good results. For the year 2022-2023, closed at the end of June, its sales jumped 12%, to 5.55 billion euros, exceeding analysts’ forecasts. Its operating profit more than doubled and its adjusted profit rose 20%. The group intends to continue its move upmarket to exceed 6 billion euros in turnover by 2026. As for L’Oréal, the group recorded a turnover of 20.6 billion euros in first half, up 12% year-on-year. Its net profit increased by 4% to 3.35 billion euros. However, in the third quarter, the growth in activity of the global cosmetics giant slowed down (+4.5% year-on-year), penalized by its sales in China. These players benefit from a beauty market which is expected to grow annually by 6% on average by 2028 according to McKinsey,