February 06, 2025 17:15 GMT
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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