L'Oréal proves resilient and confirms the gradual improvement of its sales
Growth in sales: +1.4% at 8.77 billion euros
(+0.4% at constant exchange rates*; -3.2% like-for-like)
Improvement in second quarter sales: +2.6%
Consumer Products Division holds up well
Upturn in New Markets
Confidence to continue the improvement in performance in the second half.
Commenting on the figures, Mr Jean-Paul Agon, Chief Executive Officer of L'Oréal, said: “The improved performances in the second quarter reflect the success of the latest innovations, the acceleration of initiatives across all regions, and a lower inventory reduction by distributors. Over the first half, the group achieved positive growth, in a market context which remains difficult.
Sales trends remain extremely differentiated across the divisions: the Consumer Products Division is accelerating its growth and strengthening its worldwide positions. In markets which are still down, the Professional Products Division is significantly increasing its penetration in hair salons, and the Luxury Products Division is achieving notable successes with its latest launches, particularly at Lancôme.
Furthermore, thanks to our range of initiatives, all the New Markets are growing in the second quarter. India is accelerating, China and Brazil are maintaining their strong dynamism, Mexico is recovering and the situation in Russia is improving.
The 5 main strategic thrusts – accessible innovation, opening up new product categories, accelerating globalisation, ensuring sustained advertising and promotional investments, and reducing costs – are starting to pay off.
We are confirming our confidence in a gradual improvement in performance in the course of 2009.”
* based on constant translation rates: 2009 data at 2009 rates / 2008 data at 2009 rates
July 30, 2009
