L’Oréal FY 2022: sales soar 10.9 percent LFL to €38.26 billion

L’Oréal FY 2022: sales soar 10.9 percent LFL to €38.26 billion

THE WHAT? 2022 will go down as the year that L’Oréal put the pandemic well and truly behind it; the French beauty behemoth reported sales growth of 23.4 percent in fiscal 2022 compared to 2019 figures and yoy growth of 10.9 percent LFL, bringing the total to €38.26 billion.

THE DETAILS Active Cosmetics was the most successful category in terms of percentage growth, albeit from a lower base, putting on 21.9 percent LFL. L’Oréal Luxe saw sales increase a very respectable 10.2 percent, while professional products followed closely behind with a 10.1 percent rise. Consumer Products bought up the rear with an 8.3 percent jump.

Regionally, SAPMENA-SSA was the stand-out performer, swelling 22 percent, while Latin America gained 18.6 percent, Europe put on a very respectable 11.6 percent and North America grew 11.6 percent. The North Asia region was the only one to deliver growth in the single digits, with a 6.6 percent sales rise.

THE WHY? Commenting on the figures, Nicolas Hieronimus, CEO of L’Oréal, said, “We achieved a remarkable performance this year, thanks to our innovation leadership, our highly desirable brands, our operational agility and the tremendous commitment of our teams. Comparable growth vs. 2019 accelerated quarter after quarter and reached +23 percent over the full year.  Our balanced growth across Divisions and regions once again demonstrates the relevance of our multipolar model: strategically centralised and operationally decentralised with a strong entrepreneurial mindset, this model is ideally suited to the current environment. We have emerged stronger from 2022 and reinforced our position as the world’s leading beauty company. These high-quality results allow us to consistently support our social and environmental commitments, in line with our dual ambition of economic and corporate performance. Mindful of the current uncertainties, 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.”