Report
Pierre Tegner

L'Oreal : 2019 EPS: +9.2%. Record Q4 at +9.6% l-f-l: +30% in Asia and +1.7% ROW

>Neutral recommendation: long-term core holding - The new record set for l-f-l growth in Q4 and the efforts made by L’Oréal and Estée Lauder yesterday to provide reassurance about the coronavirus should allow the stock to consolidate its positive reaction yesterday. Both the full year and Q4 figures show the strength of a group with a strategic focus on a dynamic market while maintaining diversity in its operations. This makes it a core holding in the current con...
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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