L’Oréal's Q2 2023 sales totaled 10,193.7 million euros, a 13.7% like-for-like gain, while first-half sales totaled 20,574.1 million euros, a 13.3% like-for-like increase. First-half operating margins stood at 20.7%, up 30 basis points, year-over-year.
Growth drivers included record gains in consumer products, up 15% like-for-like in the first half of 2023, as well as a 29.0% like-for-like gain for dermatological beauty in the same period.
Both the luxe and professional sectors grew by 7.6% like-for-like in the first half of 2023.
While results in China began to recover, top performers included Europe and the United States.
Nicolas Hieronimus, CEO of L'Oréal, said, “In a beauty market that is more dynamic than ever, L’Oréal delivered a remarkable performance and further strengthened its global leadership in the first half. Growth was broad-based across all divisions, regions, categories, and channels, once again vindicating our balanced, multi-polar model. Growth continued to be driven by the dual cylinders of volume and value–testament to the success of our innovations and the desirability of our brands. In keeping with our virtuous circle, we improved our profitability, all while significantly increasing investment in our brands. At the same time, in line with our dual ambition of economic and corporate performance, we continued to invest in the transition towards a more sustainable operating model that will ensure long-term value creation. In an economic context that is still uncertain, we remain ambitious for the future, optimistic about the outlook for the beauty market, and confident in our ability to keep outperforming the market and achieve in 2023 another year of growth in sales and profits.”