L'Oréal grows more than 7% compared to last year

The French cosmetics giant has a turnover of more than 41 billion euros by 2023

12 of February of 2024

L'Oréal continues to grow. The French group has already presented its results for the 2023 financial year and confirms growth for the third consecutive year. L'Oréal had a turnover of 41,183 million euros for the full year 2023, an increase of 7.6% compared to the previous year.

On a like-for-like basis, L'Oréal has grown by 11%, making it the third consecutive year of double-digit growth. Net profit was up 8.4% and all divisions posted year-on-year increases in business.

Europe posted sales of 13.008 billion euros, up 13.7%, while business in North America grew by 9.7% to 11.147 billion euros, and in Latin America sales rose by almost 23% to 2.917 billion euros. 

In the last quarter, the French multinational's sales totalled 10,605 million euros, an increase of 2.8%. Nicolas Hieronimus, CEO of L'Oréal, said 2023 was a successful year: "I am immensely grateful to our teams. Their creativity, entrepreneurship and passion have enabled us to achieve a third consecutive year of comparable double-digit growth, once again outperforming a dynamic beauty market."

The CEO concluded the press release, predicting a year of growth ahead and confident in the group's ability to continue to grow its sales.