L’Oréal records strong Q1 results

First quarter sales of 11.24 billion euros, increased 9.4 percent like-for-like and 8.3 percent reported at L’Oréal. The company’s adjusted like-for-like growth was 8.1 percent.

Commenting on the figures, Nicolas Hieronimus, CEO of L'Oréal, said in a statement: “2024 is off to a very good start with like-for-like growth of 9.4 percent, perfectly illustrating the power of our unique model. Continued double-digit growth in Europe, coupled with ongoing strength in emerging markets more than offset the only gradual recovery in North Asia.”

Among the company’s divisions, the professional products division achieved a growth of 10.7 percent like-for-like and 8.7 percent reported, the consumer products division recorded an increase of 11.1 percent like-for-like and 9.2 percent reported, L’Oréal Luxe grew 1.8 percent like-for-like and 2.2 percent reported and dermatological beauty division reported growth of 21.9 percent like-for-like and 19.6 percent reported.

Across geographies, sales in Europe were up 12.6 percent like-for-like and 12.2 percent reported, sales in North America saw growth of 12.3 percent like-for-like and 11.9 percent reported, North Asia contracted 1.1 percent like-for-like and 3.9 percent reported, SAPMENA-SSA saw growth of 16.4 percent like-for-like and 14.4 percent reported and sales in Latin America increased 16.2 percent like-for-like and 18.7 percent reported.