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International Internet Magazine. Baltic States news & analytics Sunday, 05.07.2020, 19:49

L'Oreal Baltic raises turnover by 1.1% in 2019

BC, Riga, 04.06.2020.Print version
Cosmetics distributor L'Oreal Baltic turned over EUR 45.787 million in 2019, which is an increase of 1.1 percent against a year before, while the company's profit dropped 3.1% on year to EUR 4.285 million, writes LETA, according to information available at Firmas.lv.

According to the company's annual report, L'Oreal Baltic generated its entire 2019 revenue from wholesale of perfumery and cosmetic products. 


The company's operations in the Baltics have significantly reduced due to the Covid-19 pandemic but the pandemic's impact on the company's 2020 results cannot be estimated yet, the management said. 


In the future, L'Oreal Baltic aims to expand its market share in all segments in the Baltics. To boost competitiveness, L'Oreal Baltic will continue to introduce new brands in the Baltic market. L’Oreal Baltic closed 2018 EUR 45.291 million in turnover, which is by 1.5 percent less than a year before, while the company’s profit rose 8.8 percent to EUR 4.424 million.


L’Oreal Baltic, founded in 2000, has a share capital of EUR 369,850. The company’s shares belong to French-registered L’Oreal.






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