L’Oréal outperformed in the first half of 2023

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L’Oréal, the French cosmetics giant, made a net profit of 3.36 billion euros in the first half of 2023. It is up 4%, driven by sales growth around the world and across all product categories.

 

For the first half of the year, L’Oréal recorded net income of €3.36 billion, up 4% over the same period in 2022.

 

Between January and June, sales reached 20.5 billion euros, up 12% year-on-year. The operating margin is also up slightly by 20.7%.

 

Given the context, we are very happy. The global beauty market was at +10%, we’re back on top,” Nicolas Hieronimus, the group’s managing director, told AFP. He sees “the second half of the year with confidence, ambition and some optimism“.

 

It is also possible to see that all divisions of the group are progressing. The consumer sector, which includes brands such as Garnier, Maybelline and Mixa, recorded its best half-year growth. Sales increased by one billion euros over the period to reach 7.7 billion euros (+13% compared to 2022).

 

Sales of the luxury division with brands such as Saint Laurent Beauté, Lancôme and Prada rose by 6% to 7 billion euros. The group states that they were driven by “double-digit growth in Europe, North America and emerging countries“.

 

The Dermatology branch with brands such as Avène and La Roche-Posay achieved the best increase at 3.3 billion euros ( +29%).

 

Geographically, Europe is performing “remarkably well” as Nicolas Hieronimus points out, with an increase of 16.6% to 6.5 billion euros, driven by the Germany-Austria-Switzerland region, France and the United Kingdom.

 

North-East Asia, almost stable with an increase of +0.6%, “starts again more slowly than expected but surely. In our second quarter in China, we have achieved double-digit growth, between 15 and 18%,” says L’Oréal’s CEO.

 

While the vast majority of luxury groups in all sectors experienced a slowdown in their sales in Uncle Sam’s country, those in L’Oréal are up 15% to 5.3 billion euros.

 

Read also >Kendall Jenner: the new face of L’Oréal

 

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L’Oréal, the French cosmetics giant, made a net profit of 3.36 billion euros in the first half of 2023. It is up 4%, driven by sales growth around the world and across all product categories.

 

For the first half of the year, L’Oréal recorded net income of €3.36 billion, up 4% over the same period in 2022.

 

Between January and June, sales reached 20.5 billion euros, up 12% year-on-year. The operating margin is also up slightly by 20.7%.

 

Given the context, we are very happy. The global beauty market was at +10%, we’re back on top,” Nicolas Hieronimus, the group’s managing director, told AFP. He sees “the second half of the year with confidence, ambition and some optimism“.

 

It is also possible to see that all divisions of the group are progressing. The consumer sector, which includes brands such as Garnier, Maybelline and Mixa, recorded its best half-year growth. Sales increased by one billion euros over the period to reach 7.7 billion euros (+13% compared to 2022).

 

Sales of the luxury division with brands such as Saint Laurent Beauté, Lancôme and Prada rose by 6% to 7 billion euros. The group states that they were driven by “double-digit growth in Europe, North America and emerging countries“.

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L’Oréal, the French cosmetics giant, made a net profit of 3.36 billion euros in the first half of 2023. It is up 4%, driven by sales growth around the world and across all product categories.

 

For the first half of the year, L’Oréal recorded net income of €3.36 billion, up 4% over the same period in 2022.

 

Between January and June, sales reached 20.5 billion euros, up 12% year-on-year. The operating margin is also up slightly by 20.7%.

 

Given the context, we are very happy. The global beauty market was at +10%, we’re back on top,” Nicolas Hieronimus, the group’s managing director, told AFP. He sees “the second half of the year with confidence, ambition and some optimism“.

 

It is also possible to see that all divisions of the group are progressing. The consumer sector, which includes brands such as Garnier, Maybelline and Mixa, recorded its best half-year growth. Sales increased by one billion euros over the period to reach 7.7 billion euros (+13% compared to 2022).

 

Sales of the luxury division with brands such as Saint Laurent Beauté, Lancôme and Prada rose by 6% to 7 billion euros. The group states that they were driven by “double-digit growth in Europe, North America and emerging countries“.

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Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

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