- Operating profitability at 15.7% of sales
- EPS* at 2.08 euros
- Strong improvement in operating cash flow
First encouraging effects of the anti-crisis strategy
With prospects of a gradual improvement in sales, the group is tackling the second half with confidence
Commenting on the figures, Mr Jean-Paul Agon, Chief Executive Officer of L'Oréal, said:
“Achieved in a particularly difficult context, the group’s economic performance in the 1st half is robust and encouraging.
The sales trend has remained positive overall and is reaccelerating in the new markets. Following on from last year’s record levels, the financial results are solid and of good quality, in terms of operating profit, net profit and operating cash flow, which has grown strongly.
These results confirm the resilience of L’Oréal’s business model, and reflect the first effects of the anti-crisis strategy adopted: accessible innovation, opening up new categories, accelerating globalisation, ensuring sustained advertising and promotional investments, and reducing costs.
These results also reflect the company’s adaptability, and the responsiveness and commitment of L’Oréal teams across the world.
With prospects of a gradual improvement in sales, and despite the continuing uncertainty of the market context, we are tackling the second half with confidence and the determination to keep on strengthening our positions.”
* diluted net earnings per share, based on net profit excluding non-recurrent items attributable to the group.
August 27, 2009