Report
Pierre Tegner

L'Oréal : Croissance organique attendue à -1% sur 2020 avec une séquence de -5%, -13%, +10%, +5% sur T1, T2, T3 et T4

>Neutre maintenue : impact limité à 2020 - Avec un PE 21e de 30x, le titre reste cher et a très bien résisté dans la chute des marches des 6 dernières semaines. Ceci est dû à la conviction des investisseurs que l’impact de l’épidémie de COVID-19 aura un impact contenu sur 2020. Malgré l’impact violent que l’on peut anticiper au T2 dans le Luxe et le Professionnel, L’Oréal reste en mesure de générer un BPA 2020 proche de celui de 2019 ; ce qui est un signe de relative ...
Underlying
L'Oreal SA

L'Oreal acts as a holding company. Through its subsidiaries, Co. plays a strategic coordination role and scientific, industrial and marketing coordination role on a global basis. Co. develops, manufactures and commercializes products for Skin care, Hair care, Make-up, Perfumes, Toiletries and deodorants, and Oral cosmetics. Co. has three branches: Cosmetics, Body shop and Dermatology. Co.'s principal activities comprise four divisions: Professional Products, Consumer Products, L'Oreal Luxe and Active Cosmetics. The Body Shop branch offers various cosmetics and toiletry products. The Dermatology branch offers topical dermatology prescription, and corrective and aesthetic dermatology.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Pierre Tegner

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