L'Oréal announces a strong increase in sales and results
Strong increase in results
Sales: +10.5% based on reported figures*
Operating profit: +11.4%, at 16.9% of sales
Net profit after non-controlling interests: +10.8%
EPS**: +8.9%, at 2.75 euros
Confidence in another year of growth in sales, results and profitability
Read the whole news release of August 28, 2012
Commenting on the figures, Mr Jean-Paul Agon, Chairman and CEO of L'Oréal, said:
“With strong growth in sales and results, the first half of 2012 confirms the group’s good dynamics. L’Oréal is continuing to strengthen its positions, and is thus reinforcing its leadership of the worldwide cosmetics market.
Driven by an ambitious project, the universalisation of beauty and the conquest of the next billion consumers, the group has continued to build the L’Oréal of tomorrow: dynamising our brands, strengthening our geographic footprint, rolling out our research laboratories, opening new industrial sites, and continuing efforts to raise the productivity of advertising and promotion business drivers and organisational structures.
The growth in results confirms the relevance of our business model: although it is important to emphasise that half-year figures are not particularly representative, this performance reflects the group’s ability to build solid and profitable growth.
Bolstered by these results, and despite the uncertainties of the economic environment, we confirm for 2012 our ambition to outperform the market, and achieve another year of growth in sales, results and profitability.”
Furthermore, the Board of Directors has decided, in application of the authorisation approved by the Annual General Meeting of April 17th, 2012, to buy back L'Oréal shares for a maximum amount of 500 million euros, by December 31st, 2012. The shares bought back will be cancelled (see page 5 of the news release).
* +6.0% like-for-like
** Diluted net earnings per share, based on net profit excluding non-recurring items after non-controlling interests.
August 28, 2012
