2024 Annual Results

Core Insights - L'Oréal achieved solid growth of +5.1%, outperforming the global beauty market, with record operating margins reaching 20% [2][10] - The company is optimistic about the global beauty market outlook for 2025, expecting continued growth supported by a robust pipeline of new product launches [5][10] Financial Performance - Total sales for 2024 amounted to €43.48 billion, reflecting a +5.6% increase reported and +5.1% like-for-like growth [10][22] - The operating profit increased by +6.7% to €8.69 billion, maintaining an operating margin of 20% [66][70] - Earnings per share rose to €12.66, marking a +4.8% increase [70][72] - The proposed dividend for the Annual General Meeting in April 2025 is €7.00 per share, up +6.1% from the previous year [74] Division Performance - Professional Products: Reported growth of +5.3% like-for-like and +5.0% reported, driven by strong momentum in premium haircare [24][25] - Consumer Products: Achieved +5.4% like-for-like and +5.3% reported growth, with L'Oréal Paris leading the performance [28][30] - L'Oréal Luxe: Grew +2.7% like-for-like and +4.5% reported, becoming the number one luxury beauty player in North America [31][32] - Dermatological Beauty: Experienced significant growth of +9.8% like-for-like and +9.3% reported, crossing the €7 billion sales mark for the first time [34][35] Regional Performance - Europe: Sales advanced +8.2% like-for-like and +9.3% reported, contributing significantly to overall growth [38][40] - North America: Grew +5.5% like-for-like and +5.9% reported, with L'Oréal Luxe becoming the top player in the luxury segment [42][43] - North Asia: Sales contracted by -3.2% like-for-like and -3.4% reported, primarily due to challenges in the Chinese market [47][49] - SAPMENA-SSA: Achieved +12.3% like-for-like and +12.0% reported growth, driven by strong performances in Australia, Thailand, and India [51][52] - Latin America: Sales increased by +11.0% like-for-like and +13.3% reported, with significant contributions from Mexico and Brazil [55][56] Strategic Developments - The company enhanced its marketing and R&I capabilities through AI and technology, and simplified its organizational structures [3][4] - L'Oréal made strategic acquisitions, including the Miu Miu license and the Korean brand Dr.G, to strengthen its portfolio [3][50] - The company received a platinum medal from EcoVadis, ranking it in the top 1% of companies for environmental and social performance [10]