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L’Oréal posts exceptional growth in Q2

L’Oréal posts exceptional growth in Q2

Global cosmetics leader L’Oréal has released its 2021 half-year results and posted exceptional growth in the second quarter of the year, confirming the group’s resilience.

 

Cosmetics specialist L’Oréal has revealed its half-year results for 2021, results that augur a strong recovery for the coming months. The group thus recorded sales of 15.19 billion euros, up 20.7% on a like-for-like basis.

 

In a still uncertain health context, the beauty market is gradually recovering and recording double-digit growth. Thanks to the determination and ongoing commitment of our teams, which I would like to salute, L’Oréal is outperforming the market by a wide margin, with an exceptional second quarter,” said Nicolas Hieronimus, Chief Executive Officer of L’Oréal.

 

For the first half of 2021, the leading cosmetics group posted very strong growth, gaining 20.7% like-for-like compared to 2020. This growth is confirmed in the second quarter of the year, which shows a massive 33.5% increase.

 

L’Oréal gained market share in all Divisions and all Geographic Zones. This remarkable performance illustrates the relevance and good balance of our multi-faceted model, in terms of geographic presence, brands and categories,” added Nicolas Hieronimus.

 

On a reported basis, the Group‘s revenues as of June 30, 2021 reached 15.19 billion euros, representing growth of 16.2%. L’Oréal’s Luxury division also performed very well, driven by fragrance sales.

 

L’Oréal has further strengthened at the beginning of the year and is well positioned to continue its pre-crisis growth momentum, leveraging new technologies, data management and artificial intelligence to become a champion of Beauty Tech,” said the brand’s CEO.

 

Geographically, all regions are showing double-digit growth. L’Oréal recorded strong growth in North America and Latin America, which gained 44.7% and 54.8% respectively on a comparable basis slovenska-lekaren.com. The recovery was less meteoric in Europe, which gained 27.8%, and in North Asia, a region that posted a 26.5% increase.

 

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These results were driven by an easing of sanitary restrictions in the Americas, while in Europe and Asia the situation remains stalled due to the arrival of the more contagious Delta variant.

 

In the second half of the year, we will pursue our aggressive plan of product launches while investing in the right drivers to fuel the future growth and desirability of our brands. We remain more confident than ever in our ability to outperform the market and deliver a year of revenue and earnings growth,” he concluded.

 

Read also >  KERING : ACQUISITION OF LUXURY EYEWEAR MANUFACTURER LINDBERG TO STRENGTHEN KERING EYEWEAR

 

 

Featured photo: © Press

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