Report
Pierre Tegner

L'Oréal : T3 à 7.5% en organique ! Le plus intéressant reste l’accélération des grandes marques du groupe

>Réaction positive attendue. Mais de quelle ampleur ? - La croissance organique de 7.5% est exceptionnelle et renforce la crédibilité de l’accélération de la croissance observée depuis le T3 2017.Si on ajoute le fait que L’Oréal n’observe aucun signe de ralentissement en Asie ou en Chine, il n’y a aucune raison pour que l’enthousiasme du marché ne se traduise pas dans une réaction positive. Alors que le PE 19e est déjà à 25x pour une VE/EBITA19e de 18x, la raison impo...
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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