French cosmetics giant L'Oréal rebounds at the start of 2023. L'Oréal has posted a net profit of 3.359 billion euros in the first six months of the year, an increase of more than 4% compared to the same period last year, the company said in a press release.
L'Oréal group sales reached 20.574 billion euros, representing a 12% increase in absolute figures. April and June were the months in which sales rebounded the most for the French company, with a 9.5% increase, representing a total of 10,193 million euros.
The largest increase in turnover by territory was in Latin America: in this geographical area it grew by almost 29% and reached 1,450.4 million euros. In North America, it grew by 14.7%. Especially in North America, the increase in sales was led by the Valentino and Prada brands in make-up and, in the same press release, Yves Saint Laurent and Armani grew in double digits. In North Asia, 0.6% growth was recorded, representing 5,625.5 million euros of sales. In Europe, 16.6% with almost 6,500 million euros in sales. In the case of Europe, the main markets that have enabled this growth have been the Germany-Austria cluster, Switzerland, France and the United Kingdom, although demand from Poland, Turkey and the Nordic countries also stood out, especially during the last three months of the first half of the year.
By divisions, Consumer Products is the segment that has achieved the best growth in the first half of the year, posting a growth of more than 15% and exceeding forecasts of 13%. In particular, brands and make-up products were the main drivers of this increase.
L'Oréal CEO Nicolas Hieronimus highlighted the group's global strength: "In a beauty market that is more dynamic than ever, L'Oréal performed remarkably well and further strengthened its global leadership in the first half of the year," he said. Hieronimus also pointed out that the group's profitability has also improved at the beginning of the year and that they have been able to increase investment in the brands belonging to the group despite the context of uncertainty and uncertainty that is currently being experienced in the global economy.