L’Oréal has unveiled results that defy expectations for the first half of 2024, posting strong growth despite a slowdown in China. This solid performance testifies to the resilience and effectiveness of L’Oréal’s strategy, which continues to outperform the global beauty market.
French cosmetics group L’Oréal presented its results for the first half of 2024 on Tuesday August 30, marked by sustained growth in several regions of the world. All indicators point to a robust performance, despite some slowdowns in China.
For the first six months of the year, L’Oréal sales totaled 22.12 billion euros, up 7.5% on 2023. On a like-for-like basis, growth was 7.3%.
Operating income (EBIT) rose by 8% to 4.6 billion euros, with an operating margin of 20.8%, slightly higher than the 20.7% in the first half of 2023. Net income rose by 8.8% to 3.65 billion euros.
“In the first half, we achieved strong growth of 7.3%, well distributed between value and volume, and strengthened our position as world leader in a beauty market that remains dynamic,” said L’Oréal CEO Nicolas Hieronimus.
Earnings per share, at 6.98 euros, were up 3.7% on the first half of 2023.
Europe on form, China slows down
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Read also>L’ORÉAL: STILL DAZZLING ANNUAL RESULTS HELD BACK BY THE CHINESE MARKET
Featured photo : © L’Oréal
