PARIS — L’Oréal announced its 2011 net profits grew 8.9 percent on-year to 2.44 billion euros, or $3.4 billion.
In the 12-month period, the French beauty giant posted sales of 20.34 billion euros, or $28.33 billion, up 4.3 percent. On a like-for-like basis, revenues increased 5.1 percent.
Dollar figures are converted from the euro at the average exchange rate for the period to which they refer.
Jean-Paul Agon, L’Oréal chairman and chief executive officer, stated that 2011 “was a solid year of development, which has made the group even stronger.
“All divisions are expanding,” he continued. “L’Oréal Luxury in particular posted a very good year, especially thanks to Lancôme, Giorgio Armani and Kiehl’s. Internationalization is continuing across all divisions. The group is pursuing its conquest of the new markets, with Asia and Latin America leading the way, and is making clear progress in North America.”
Agon further stated “2011 was also another year of solid construction for our operating profit,” which was 3.29 billion euros, or $4.59 billion, representing 16.2 percent of company sales. (In the prior year, it corresponded to 15.7 percent of the firm’s revenues.)
In the fourth quarter of last year, L’Oréal’s revenues rose 5.6 percent to 5.26 billion euros, or $7.11 billion. On a like-for-like basis, sales gained 5.1 percent in the three months ended Dec. 31.
Agon foresees sales and profits increases in 2012, which he called “a symbolic year, as the new markets are set to become the group’s number-one geographic zone.”