L'Oreal Co Eur Ord (LRLCF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the conference call regarding L'Oréal sales at 31st of March 2025. The conference is about to begin. I now hand over to Eva Quiroga. Ms. Quiroga, please go ahead. Thank you very much, Alessia, and good afternoon to all. Thank you for joining us for the presentation of our first quarter 2025 sales. I'm here with our CEO, Nicolas Hieronymus. Good afternoon. our CFO, Christophe Bavule. Hello, good afternoon. And our Global Head of Corporate Finance and Financial Communications, Laurent Schmitt. Hello, good afternoon. We know that for many, this call is the last thing that stands between you and the long weekend. So Nicolas, we made just a few brief opening remarks before we go to Q&A. And with that, over to you, Nicolas. Yes, good afternoon, everyone. So a few comments on this first quarter. As you know, Globally, it's been a real roller coaster of economic and geopolitical challenges with daily announcements. And in that context, I'm very pleased that we delivered organic top line growth of plus 3.5% in line with our projections. Growth was boosted by 100 million euros, which is the net impact of the IT-related inventory building between 24 and 25. As always, there were some good surprises and some not so good ones. The US were more challenging. than anticipated, and China was slightly less bad than expected. Europe was once again our single best growth contributor. Emerging markets remain dynamic. Last year, we told you that we would step up our innovations in 2025, and I'm happy to say that our beauty stimulus plan is off to a very promising start with strong contributions from our divisions and brands. including a few products like Gloss Absolue from Kerastase, PTOX from SkinCeuticals, Make Me Blush from Yves Saint Laurent, as well as the very aptly named...