1st quarter 2003 sales: 3.7 billion euros. Very strong like-for-like growth: up 10.4%

The sales of the L'ORÉAL group at 31st March 2003 amounted to € 3.68 billion.

On a like-for-like basis, that is with a comparable structure and at constant exchange rates, the group's sales increased by + 10.4%.

Currency fluctuations have had a very substantial negative impact at -11.7 %. As the 2002 comparison base declined over the year, this impact is expected to gradually diminish over the coming months based on the current exchange rates.

The net impact of changes in the scope of consolidation is low at +0.2%.

The change in consolidated sales compared with the 1st quarter of 2002 is -1.1%.

Sales trends for the group's two branches were as follows:
like-for-like consolidated data
Cosmetics + 10.5 % - 0.9 %
Dermatology + 5.7 % - 12.6 %
Total (1) + 10.4 % - 1.1 %
(1) including "Other businesses"
The group pointed out that performance in any given quarter should be considered and analysed in the context of the year as a whole.


Increase in cosmetics sales by operational division and geographic zone

Mr Lindsay OWEN-JONES, Chairman and Chief Executive Officer of L'ORÉAL, commented: "The dynamism of our brands and the excellent balance in both business activity and geographic zones enabled the group to make good progress, despite limited difficulties in some sectors".
1st quarter 2003
Like-for-like growth
By division  
Professional Products + 9.8 %
Consumer Products + 14.2 %
Luxury Products + 2.5 %
Active Cosmetics + 11.2 %
Cosmetics total + 10.5 %
   
By geographic zone  
Western Europe + 8.5 %
North America + 9.4 %
Rest of the World + 19.0 %
Cosmetics total + 10.5 %
Mr Lindsay OWEN-JONES confirmed: "Although not a basis for extrapolation, the 1st quarter sales figures are extremely encouraging".