Report
Pierre Tegner

L'Oreal : H1 2019 results: Q2 was another impressive quarter. Not certain that contraction in North America will be favourably received

>North America spoils a good H1 - Q2 organic growth was again very strong (+6.8%). The imbalance (Asia & Luxury/Active) comes as no surprise. It is not an issue as long as L'Oréal harnesses growth where it finds it, thanks to a unique degree of diversification into beauty and a decentralised organisation around 36 brands that gives it the agility that others do not have. But Asia has completed its eighth quarter of a sprint. This is therefore not the time for ...
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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