02.12.15
Beauty business is bountiful at L’Oreal. The cosmetics giant posted 2014 full year sales rose 1.8% to $25.5 billion (22.53 billion euros). Operating profit was $4.4 billion (3.891 billion euros), representing 17.3% of sales.
The Board of Directors of L'Oréal met on Feb. 12, 2015 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 2014.
Commenting on the annual results, Agon said: "As anticipated and announced, L'Oréal recorded in the fourth quarter its strongest growth of the year. In a volatile economic context and a less dynamic market, the Group posted growth in all its Divisions and regions of the world. L'Oréal Luxe and Active Cosmetics achieved very good growth and outperformed their market significantly. The Professional Products Division continued to improve. Meanwhile, in a slowing market, the Consumer Products Division saw a temporary sag in its growth, particularly in the United States.
2014 was also a year of transformation for L'Oréal, in particular through the acceleration of our digital transformation and strategic acquisitions such as Magic, NYX, Decléor, Carita and Niely, which complement our brand portfolio in key categories and regions of the world. Despite adverse currency effects, operating margin increased once again in 2014 highlighting the strength of our business model. Following the capital gain realised upon the disposal of Galderma as part of the strategic transaction with Nestlé, net profit has grown strongly.
We are looking to the future with confidence, driven by our ‘Beauty for All’ mission and our ‘Universalization’ strategy towards our ambition of winning one billion new consumers. In an economic environment that is uncertain, but more favorable on the monetary front, all our teams are focused to ensure L'Oréal outperforms the market in 2015, and to deliver sales and profit growth."
In personnel news, the Board of Directors has decided to propose to the Annual General Meeting of April 22, 2015, the renewal of the tenure of Charles-Henri Filippi. After eight years of active participation in the work of the Board, Annette Roux has decided not to seek the renewal of her tenure which expires at the end of the 2015 session. The Board will propose the appointment as new Board Director, Sophie Bellon, who is in charge of the Research, Development and Innovation Strategy of Sodexo and vice chairman of its Board of Directors.
The Board of Directors of L'Oréal met on Feb. 12, 2015 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 2014.
Commenting on the annual results, Agon said: "As anticipated and announced, L'Oréal recorded in the fourth quarter its strongest growth of the year. In a volatile economic context and a less dynamic market, the Group posted growth in all its Divisions and regions of the world. L'Oréal Luxe and Active Cosmetics achieved very good growth and outperformed their market significantly. The Professional Products Division continued to improve. Meanwhile, in a slowing market, the Consumer Products Division saw a temporary sag in its growth, particularly in the United States.
2014 was also a year of transformation for L'Oréal, in particular through the acceleration of our digital transformation and strategic acquisitions such as Magic, NYX, Decléor, Carita and Niely, which complement our brand portfolio in key categories and regions of the world. Despite adverse currency effects, operating margin increased once again in 2014 highlighting the strength of our business model. Following the capital gain realised upon the disposal of Galderma as part of the strategic transaction with Nestlé, net profit has grown strongly.
We are looking to the future with confidence, driven by our ‘Beauty for All’ mission and our ‘Universalization’ strategy towards our ambition of winning one billion new consumers. In an economic environment that is uncertain, but more favorable on the monetary front, all our teams are focused to ensure L'Oréal outperforms the market in 2015, and to deliver sales and profit growth."
In personnel news, the Board of Directors has decided to propose to the Annual General Meeting of April 22, 2015, the renewal of the tenure of Charles-Henri Filippi. After eight years of active participation in the work of the Board, Annette Roux has decided not to seek the renewal of her tenure which expires at the end of the 2015 session. The Board will propose the appointment as new Board Director, Sophie Bellon, who is in charge of the Research, Development and Innovation Strategy of Sodexo and vice chairman of its Board of Directors.