A CONTRASTED MARKET
Sales: 16.56 billion euros - Published sept 30 2014,
-0.4% based on reported figures
Commenting on the figures, Jean-Paul Agon, Chairman and CEO of L'Oréal, said:
"In the third quarter, L'Oréal recorded low growth because of a slight contraction in the Consumer Products Division, as the mass market hit an air pocket in Western Europe.
On the other hand, there has been a succession of good news since the end of the summer:
- a steady mass market improvement in the United States
- continuing market growth in emerging countries
- the resumption of our market share gains in the mass market in Western Europe during the third quarter
- continuing good momentum in our Selective Divisions
- and lastly, the favourable turnaround in the monetary environment.
In view of these factors, we think the Group's like-for-like growth should reaccelerate in the fourth quarter, particularly in the Consumer Products Division. This trend should be amplified by an extremely positive currencies effect.
All in all, 2014 should be another year of improved economic performance for L'Oréal, with the Group slightly outperforming the worldwide cosmetics market, improving operating profitability, and increasing its net earnings per share, thanks in part to the accretive impact of the strategic transaction with Nestlé. This transaction will also ensure very strong growth in net income, thanks to a capital gain of about 2 billion euros."