L’Oréal Group posted sales of €38.26 billion in 2022, a rise of +18.5% on a reported basis and +10.9% like-for-like. Pre-tax profit climbed by +21.2% year-on-year to €7.8 billion.
L’Oréal Luxe recorded strong growth at +10.2% like-for-like and +18.6% reported. The division benefited from the performance of fragrance and skincare, and reinforced its position across key markets, said the group, despite a slowdown in China in the second half. All other divisions posted double-digit sales growth in the year.
L’Oréal CEO Nicolas Hieronimus said: “Comparable growth versus 2019 accelerated quarter after quarter and reached +23% 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.”
He added: “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.”
Europe became the group’s largest regional market this year, accounting for 32% of sales (+12.3% on a reported basis, +11.6% like-for-like). The company highlighted strong performance in fragrance, makeup and sun protection products. It noted that the market maintained its strength during the second half despite the impact of rising inflation.
North America grew by +24.6% (reported) and +10.4% like-for-like, with North Asia sales rising by +14.8% (reported) and +6.6% (like-for-like).
The company noted: “The Professional Products and Active Cosmetics Divisions continued their double-digit growth, leveraging their premium brand portfolio. L’Oréal Luxe achieved robust growth in a negative market; this remarkable performance was driven by premium skincare, fragrance and the strong acceleration of Yves Saint Laurent across the zone.
“In Mainland China, the beauty market was clearly affected by the public health restrictions. In this challenging context, L’Oréal grew appreciably, with a double-digit increase in online sales.”
The South Asia Pacific, Middle East, North Africa-Sub-Saharan Africa (SAPMENA-SSA) region posted sales growth of +28.1% reported and +22% like-for-like. Latin America posted strong growth, at +18.6% like-for-like and +34.1% based on reported figures.
Hieronimus said: “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.”
More details to follow. 
