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L'Oréal Group Closes Robust 2017, Posting Strong Sales, Profit, Solid Growth

March 8, 2018: 12:00 AM EST
The L'Oréal Group closed out fiscal 2017 reporting strong sales for the year, totaling €26.02 billion ($32.3 billion), up 4.8 percent from 2016 based on a comparable scope of consolidation and constant exchange rates. Factors affecting revenue included consolidation (-2.8 percent); acquisitions (+0.9 percent); sale of The Body Shop (-3.7 percent); and currency fluctuations (-1.3 percent). Growth at constant exchange rates was 2.0 percent. Growth in the Active Cosmetics Division, which includes the CeraVe products, was 5.8 percent like-for-like (11.9 percent reported). Division sales surpassed €2 billion ($2.5 billion). The division continues to grow internationally, “thanks to the successful integration of CeraVe, which is growing strongly in the American market” at a rate of 20 percent annually. The company still posted growth of 1.7 percent like-for-like (3.5 percent reported). “The American market is continuing to grow, but is facing a slowdown,” the company said.
 
The profitability of Active Cosmetics slid 60 basis points at 22.6 percent but continues to be the most profitable division. The company noted that it invested significantly “to support skincare brand Vichy, to accelerate La Roche-Posay, and to prepare for the rollout of CeraVe.” The company saw acceleration in the overall skincare market, thanks to Baby Boomers and to Millennials, and to Asian consumers. Division President Brigitte Liberman said two major elements are driving the division’s success: first, a “powerful and sustainable trend for skincare you can trust,” and second, the acquisition of CeraVe, which has “transformed the worldwide footprint of the division and complemented our brand portfolio.” [ Jean-Paul Agon, image credit: © L'Oréal
"L'Oreal 2017 Annual Results", Earnings release, L'Oréal, March 08, 2018, © L'Oréal
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