Risultati semestrali 2025 Gruppo L'Oréal

Clichy, 29 July 2025

2025 Half-Year Results

 

SEQUENTIAL ACCELERATION IN LIKE-FOR-LIKE GROWTH [1]

FURTHER OPERATING MARGIN EXPANSION

• Sales: 22.47 billion euros, +3.0% like-for-like [2] (+3.2% adjusted1), +1.6% reported.

 

• Adjusted for the phasing related to the 2024 and 2025 IT transformation, like-for-like growth accelerated from +2.6% in the first quarter to +3.7% in the second.

 

• By region, emerging markets advanced in double digits; mainland China returned to growth [1].

 

• All Divisions grew, led by Professional Products. Consumer Products started to see early signs of recovery in North America, including makeup.

 

• Fragrances and haircare continued to be the fastest-growing categories.

 

• Growth was well-balanced between volume and value.

 

• At 21.1%, the operating margin increased by 30 basis points. All Divisions reported margins above 22%.

 

• Net profit excluding non-recurring items amounted to 3,783.0 million euros, up +1.0%.

 

• The Group further bolstered its portfolio of 37 global brands with the acquisitions of Medik8 (L’Oréal Luxe) and Color Wow (Professional Products).

 

• L’Oréal was named most innovative company in Europe in Fortune’s first-ever ranking of the continent’s 300 most forward-thinking businesses.

 

 

Commenting on these figures, Nicolas Hieronimus, CEO of L'Oréal, said:

“As anticipated, L’Oréal’s like-for-like growth accelerated between first and second quarter1. The ongoing strength in emerging markets, the slight rebound in mainland China and the gradual recovery in North America more than offset the expected slowdown in Europe, once again validating our multi-polar model.

The acceleration was supported by a gradual improvement in global beauty market growth, which we expect to continue in the next two quarters. And it was boosted by the early success of our Beauty Stimulus Plan – which will become ever more impactful as we continue to roll-out our most recent blockbusters and as we have many exciting launches in the second half of the year.

Our operating margin increased by 30 basis points in the first half, particularly thanks to rigorous management of our operating expenses; our numerous initiatives in the second half will benefit from strong brand support, notably our major upcoming launches, including the new Prada men's fragrance and the first Miu Miu fragrance.

I am confident that we will continue to outperform the global beauty market – which we expect to grow, even amidst the current economic and geopolitical tensions – and to achieve another year of growth in sales and an increase in our profitability.”

 

 

Discover more at this link.

 

 

[1] Adjusted for the phasing related to the 2024 and 2025 IT transformation.

[2] Like-for-like: based on a comparable structure and identical exchange rates.