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.