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CONSUMER CYCLICALS: L'Oreal; FY24 results

CONSUMER CYCLICALS

(ORFP; Aa1/AA) 

  • 4Q sales net beat expectations by a tad (+4.5%) but LFL at +2.5% fell short of expectations for +4%.
  • net EBIT came above expectations, FY EBIT margin holding around 20% as it logged +6% growth over the year.
  • Francoise, grand-daughter of founding French chemist Eugene, will pass on board representation to her sons. They have 35% share, Nestle 20%.
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(ORFP; Aa1/AA) 

  • 4Q sales net beat expectations by a tad (+4.5%) but LFL at +2.5% fell short of expectations for +4%.
  • net EBIT came above expectations, FY EBIT margin holding around 20% as it logged +6% growth over the year.
  • Francoise, grand-daughter of founding French chemist Eugene, will pass on board representation to her sons. They have 35% share, Nestle 20%.