For the first time since 2020, L’Oréal is not reporting double-digit growth. On 6 February 2025, the French cosmetics giant announced sales of €43.48bn in 2024, up 5.6% on the previous year. Net profit was up 3.6% to €6.4bn. These are solid results, but they have slowed considerably, given that the group was still forecasting 11% growth in sales and 8.4% growth in profits in 2023.

"Considering the context, which has been unsettled to say the least, we are generally very satisfied with this year", CEO Nicolas Hieronimus told the AFP news agency. In particular, he pointed to a "record" operating margin of 20%. "We were hoping for a rebound in the Chinese market in 2024, but we quickly realised, particularly midway through the year, that this ecosystem was not picking up”.

While sales in North Asia fell by 3.4% year-on-year to €10.3bn, Europe posted a 9.3% increase to €14.2bn, while North America grew by 5.9% to €11.8bn.

Consumer products (such as Garnier and Maybelline) recorded sales of €15.98bn (+5.3%), boosted by "an exceptional year for L’Oréal Paris" brand. L’Oréal Luxe (including Lancôme, Yves Saint Laurent and Giorgio Armani) recorded a more moderate performance (+4.5%, to €15.59bn), mainly thanks to North America. The dermatological beauty division (including La Roche-Posay, Cerave and Vichy) grew by 9.3%, to €7bn.

The board of directors will propose a dividend of €7 per share, compared with €6.60 for 2023, the group announced.

Goal: to conquer

For 2025, the company's ambitions are to "conquer", said its CEO, detailing three strategic axes:

- geographical expansion: with a strong focus on emerging countries and a strengthening of the US market;

- expansion of the target audience, with an offensive on products for men and for consumers over 60;

- technological innovation, without giving any further details.

At the board meeting, vice chair Françoise Bettencourt Meyers announced that she would not be seeking re-election as a director. She proposed that the family holding company Téthys, represented by Alexandre Benais, should join the board. To succeed her as vice cha, the Bettencourt Meyers family has proposed the appointment of her son Jean-Victor Meyers.

L’Oréal Benelux appointed  in February 2024. Created from the merger of L’Oréal Netherlands and L’Oréal Belgilux in 2021, L’Oréal Benelux has over 900 employees. The brand has offices in Hoofddorp and Brussels, as well as a factory in Libramont. Although the group has no dedicated sales outlets in Luxembourg, its cosmetics can be found in any supermarket.

Read the original French-language version of this news report /