First quarter 2024 sales

19.04.2024 - Finance



Sales: 11.24 billion euros, +9.4% like-for-like1, +8.3% reported.

• First quarter sales included a positive 130 million euro phasing impact ahead of the implementation of new IT systems in North America. Adjusted like-for-like growth amounted to a strong +8.1%.

Continued outperformance in a global beauty market that remained dynamic.

• All Divisions grew with stellar performances from the Consumer Products and Dermatological Beauty Divisions.

• Particularly remarkable growth in Europe and Emerging Markets.

• Continued growth in both, volume and value.

7 innovations awards at the CES 2024 in Las Vegas confirm L’Oréal’s Beauty Tech leadership.

Leading in diversity and inclusion: the 2024 Equileap Gender Equality Report ranked L’Oréal number nine globally (out of 3,795 publicly listed companies in 27 markets) and number one in France.

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

“2024 is off to a very good start with like-for-like growth of +9.4%, perfectly illustrating the power of our unique model. We are a pure player in beauty, a category that has once again proven its relentless growth capacity. Our multipolar approach to beauty - from luxury to mass, professional to dermatological, in all channels, all price points, and all geographies - allows us to seize all growth opportunities and offset temporary points of softness.

And the first quarter was perfect proof. Continued double-digit growth in Europe, coupled with ongoing strength in emerging markets more than offset the only gradual recovery in North Asia. The outstanding performances of dermatology and mass compensated the short-term challenges in luxury. All in all, adjusted for the favorable phasing in North America, our like-for-like growth was a strong +8.1%, not only maintaining our rhythm, but once again significantly outperforming the dynamic beauty market.

This remarkable performance also reflected the strength of our innovation, the power of our brands, as well as the engagement of our teams around the world.

In an environment that continues to be marked by economic and geopolitical tensions, we are optimistic about the outlook for the beauty market, and confident in our ability to keep outperforming it and to achieve another year of growth in sales and profit.” 

1 Like-for-like: based on a comparable structure and identical exchange rates.

Discover more here or in the attached document.