The Board of Directors of L’Oréal met on 7 February 2019, under the chairmanship of Jean-Paul Agon and in the presence of the Statutory Auditors. The Board closed the consolidated financial statements and the financial statements for 2018.
Commenting on the Annual Results, Jean-Paul Agon, Chairman and CEO of L’Oréal, said:
“In a beauty market that accelerated significantly in 2018, L’Oréal marked its best year of growth since 2007, at +7.1%1, following a strong fourth-quarter increase of +7.7%1.
All Divisions are growing, especially L’Oréal Luxe and Active Cosmetics, which both recorded double-digit growth. The big brands are the star performers, particularly in the L’Oréal Luxe Division, where Lancôme sales crossed the 3 billion euro mark. The Active Cosmetics Division achieved its highest growth for more than 10 years in a very dynamic skincare market. In the Consumer Products Division, 2018 was a good year for L’Oréal Paris and Maybelline New York. The Professional Products Division meanwhile recorded a modest increase in sales, thanks to a significant acceleration in the final quarter.
The performance by geographic Zone remained differentiated. In Western Europe, progress was held back by difficulties in some markets, while growth in North America improved compared with the previous year. The New Markets achieved their best performance since 2007, and the Asia Pacific Zone, driven by China, has now overtaken North America with sales exceeding 7 billion euros.
Source/Image Credit: https://www.loreal-finance.com/eng/news/2018-annual-results-1317.htm
