L’Oréal reports ‘historic’ full year for 2021: Net profit soars 29%
International beauty major L’Oréal has reported a significant rise in full-year 2021 sales and net profit globally, with Latin America and North Asia performing particularly well and business in its Luxe and Active Cosmetics divisions leading the surge.
L’Oréal generated worldwide sales of €9.09bn in the fourth quarter (Q4) of 2021, up 15.4% on the previous year. Within this, L’Oréal’s active cosmetics saw the biggest sales spike, up 28.4% in Q4, followed by professional products (up 18.5%), L’Oréal luxe (up 16.5%) and consumer products (up 10%). Regionally, North America reported the most significant Q4 sales growth, up 25.1% on the previous year.
For the full year of 2021, sales sat at €32.2bn, up 15.3%, with net profit after controlling interests tallying up at €4.59bn, up 29% on the previous year. In sales terms, Latin America reported the biggest annual spike at 20.6%, followed by North Asia (18.6%), North America (18.1%), Europe (10.7%) and South Asia Pacific, Middle East and North Africa [SAPMENA] (10%).
“2021 was a historic year for L’Oréal,” said Nicolas Hieronimus, CEO at L’Oréal. Total group growth was double that of the worldwide beauty market, Hieronimus said, and the company gained market share in all zones, business divisions and product categories.