not vested
L’OCCITANE (00973) FY2022 NP hits record, OP Margin the highest level since listing
TP: HK$25
Company Profile
Brands — L’OCCITANE en Provence, Melvita, Erborian, L’OCCITANE au Brésil, LimeLife by Alcone, ELEMIS, Sol de Janeiro and Grown Alchemist.
As at 31 March 2022, the Company has more than 3068 retail outlets (a decrease of 20 or 0.6%). including around 1,500 owned stores, and is present in 90 countries.
The total number of own retail stores was 1375 as at 30 June 2022, representing 115 net closings year to date.
Source: Phillips
https://www.stocksbnb.com/reports/locci ... e-listing/
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L'Occitane 0973
Re: L'Occitane 0973
by winston » Mon Oct 31, 2022 3:13 pm
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: L'Occitane 0973
by winston » Wed Nov 16, 2022 2:58 pm
not vested
L`OCCITANE(973)
Analysis：
L`OCCITANE (973) continued its positive momentum thanks to the dynamic new brands, rebound in travel retail and distribution and foreign currency exchange tailwinds.
The Group`s net sales amounted to 900.5 million in FY2023 H1, representing 24.2% growth at reported rates or 16.1% growth at constant rates.
Growth in FY2023 Q2 was 16.2% at constant rates, accelerating from a strong FY2023 Q1 (+15.8%).
On a like-for-like basis, sales growth was 5.9% in FY2023 H1, an acceleration from 5.1% in FY2023 Q1 to 6.7% in FY2023 Q2. (I do not hold the above stock)
Strategy：
Buy- in Price: $21.40, Target Price: $23.70, Cut Loss Price: $20.50
Source: Phillips
L`OCCITANE(973)
Analysis：
L`OCCITANE (973) continued its positive momentum thanks to the dynamic new brands, rebound in travel retail and distribution and foreign currency exchange tailwinds.
The Group`s net sales amounted to 900.5 million in FY2023 H1, representing 24.2% growth at reported rates or 16.1% growth at constant rates.
Growth in FY2023 Q2 was 16.2% at constant rates, accelerating from a strong FY2023 Q1 (+15.8%).
On a like-for-like basis, sales growth was 5.9% in FY2023 H1, an acceleration from 5.1% in FY2023 Q1 to 6.7% in FY2023 Q2. (I do not hold the above stock)
Strategy：
Buy- in Price: $21.40, Target Price: $23.70, Cut Loss Price: $20.50
Source: Phillips
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 119082
- Joined: Wed May 07, 2008 9:28 am
Re: L'Occitane 0973
by winston » Tue Nov 29, 2022 11:40 am
not vested
Interim Results
HIGHLIGHTS
The Group delivered a second consecutive year of record interim net profit in FY2023 H1, reaching €63.9 million, equivalent to 7.1% of reported net sales and 5.4% growth as compared to the same period last year.
Reported net sales grew 29.3% to €900.5 million, mainly contributed by the initial inclusion of recently acquired brands, Sol de Janeiro and Grown Alchemist, and the decent growth of the Group’s key brands.
Gross profit margin remained high at 80.2%, an increase of 0.5 points as compared to the same period last year, due mainly to the one-off deconsolidation impact of L’Occitane, Inc. last year and foreign currency exchange tailwinds.
Operating profit reached €87.0 million, an increase of 10.3% as compared to the same period last year.
On a management basis, excluding the exceptional impacts of the Group’s divestiture in Russia this year and the deconsolidation of the US subsidiary last year, the operating profit margin in FY2023 H1 reached 11.3%, an increase of 1.0 point as compared to 10.3% in FY2022 H1.
http://iis.aastocks.com/20221128/10519528-0.PDF
Interim Results
HIGHLIGHTS
The Group delivered a second consecutive year of record interim net profit in FY2023 H1, reaching €63.9 million, equivalent to 7.1% of reported net sales and 5.4% growth as compared to the same period last year.
Reported net sales grew 29.3% to €900.5 million, mainly contributed by the initial inclusion of recently acquired brands, Sol de Janeiro and Grown Alchemist, and the decent growth of the Group’s key brands.
Gross profit margin remained high at 80.2%, an increase of 0.5 points as compared to the same period last year, due mainly to the one-off deconsolidation impact of L’Occitane, Inc. last year and foreign currency exchange tailwinds.
Operating profit reached €87.0 million, an increase of 10.3% as compared to the same period last year.
On a management basis, excluding the exceptional impacts of the Group’s divestiture in Russia this year and the deconsolidation of the US subsidiary last year, the operating profit margin in FY2023 H1 reached 11.3%, an increase of 1.0 point as compared to 10.3% in FY2022 H1.
http://iis.aastocks.com/20221128/10519528-0.PDF
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 119082
- Joined: Wed May 07, 2008 9:28 am
Re: L'Occitane 0973
by winston » Fri Dec 09, 2022 2:45 pm
not vested
L`OCCITANE(973)
Analysis：
Despite the challenging macroeconomic landscape, L`OCCITANE (973) maintained its dynamic growth momentum in the first half of FY2023, with net sales registering double-digit growth and delivering a second consecutive year of record interim net profit.
The results were broad-based — with growth coming from all key brands, all three geographic regions and all three key channels.
The Group`s reported net sales amounted to Eur 900.5 million in FY2023 H1, representing 29.3% growth at reported rates as compared to the reported net sales in FY2022 H1, thanks to the newly acquired brands Sol de Janeiro and Grown Alchemist, as well as robust growth in its key brands.
Net profit was Eur 63.9 million, representing growth of 5.4%.
Gross profit margin remained high at 80.2%, an increase of 0.5 points as compared to the same period last year.
The net profit margin reached 9.6%, an increase of 1.9 points as compared to 7.7% in FY2022 H1. (I do not hold the above stock)
Strategy：
Buy-in Price: $23.80, Target Price: $26.00, Cut Loss Price: $22.50
Source: Phillips
L`OCCITANE(973)
Analysis：
Despite the challenging macroeconomic landscape, L`OCCITANE (973) maintained its dynamic growth momentum in the first half of FY2023, with net sales registering double-digit growth and delivering a second consecutive year of record interim net profit.
The results were broad-based — with growth coming from all key brands, all three geographic regions and all three key channels.
The Group`s reported net sales amounted to Eur 900.5 million in FY2023 H1, representing 29.3% growth at reported rates as compared to the reported net sales in FY2022 H1, thanks to the newly acquired brands Sol de Janeiro and Grown Alchemist, as well as robust growth in its key brands.
Net profit was Eur 63.9 million, representing growth of 5.4%.
Gross profit margin remained high at 80.2%, an increase of 0.5 points as compared to the same period last year.
The net profit margin reached 9.6%, an increase of 1.9 points as compared to 7.7% in FY2022 H1. (I do not hold the above stock)
Strategy：
Buy-in Price: $23.80, Target Price: $26.00, Cut Loss Price: $22.50
Source: Phillips
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 119082
- Joined: Wed May 07, 2008 9:28 am
Re: L'Occitane 0973
by winston » Wed Feb 01, 2023 7:16 am
not vested
L'OCCITANE 9MFY23 Sales Soars 10.6% at Constant Rates, Like-for-like Sales Rises 2.3%
L'OCCITANE (00973.HK) announced that the group’s sales reached EUR1.6 billion in FY2023 9M, representing a growth of 16.5% at reported rates or 10.6% at constant rates.
Like-for-like sales growth was 2.3%.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... t-news/HK6
L'OCCITANE 9MFY23 Sales Soars 10.6% at Constant Rates, Like-for-like Sales Rises 2.3%
L'OCCITANE (00973.HK) announced that the group’s sales reached EUR1.6 billion in FY2023 9M, representing a growth of 16.5% at reported rates or 10.6% at constant rates.
Like-for-like sales growth was 2.3%.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... t-news/HK6
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 119082
- Joined: Wed May 07, 2008 9:28 am
Re: L'Occitane 0973
by winston » Fri May 05, 2023 10:19 am
L'OCCITANE (00973.HK) FY2023 Net Sales Over EUR2.1B Grow 13.4%
L'OCCITANE (00973.HK) announced its results for the fiscal year ended March.
It recorded net sales of EUR2.135 billion, an increase of 13.4% at constant exchange rates.
Net sales in the fourth quarter were EUR525 million, an improvement over the third quarter, with a 20.6% increase at constant exchange rates.
Source: AAstocks.com
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
L'OCCITANE (00973.HK) announced its results for the fiscal year ended March.
It recorded net sales of EUR2.135 billion, an increase of 13.4% at constant exchange rates.
Net sales in the fourth quarter were EUR525 million, an improvement over the third quarter, with a 20.6% increase at constant exchange rates.
Source: AAstocks.com
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 119082
- Joined: Wed May 07, 2008 9:28 am
Re: L'Occitane 0973
by winston » Tue May 09, 2023 3:07 pm
L`OCCITANE(973)
Analysis：
L`OCCITANE`s (973) sales exceeded the 2 billion mark in FY2023, totaling 2.134 billion, growing 17.9% at reported rates or 13.4% at constant rates, mainly driven by the outstanding performance of Sol de Janeiro and solid growth of ELEMIS.
Like-for-like sales growth was 8.4% in FY2023 Q4, a significant improvement from -1.7% in the three months ended 31 December 2022, mainly driven by the early positive signs in China and the travel retail and cruise ship channels.
Sol de Janeiro became the Group`s second largest brand with 267 million sale, accounting for 12.5% of the the Group`s total sales, a substantial increase from the 1.44% in FY2022.
With stellar growth of 135.2% in local currency, it became the Group`s fastest-growing brand.
ELEMIS recorded 255 million sales, returning to growth of 8.9% at constant rates and accounting for 12% of the Group`s total sales.
In terms of regional performance, the Americas, with 695 million sale, led the growth with 80.4% at reported rates or 62.8% at constant rates, mainly driven by the accelerated growth of Sol de Janeiro and the solid performance of ELEMIS in the US.
Due to COVID-19 outbreaks, the total number of stores in China decreased by 128 to 1,362 as at 31 March 2023 as compared to 1,490 as at 31 March 2022.
Supported by the gradual economy recovery, total number of China stores and overall sales are expected to return to growth in 2024. (I do not hold the above stock)
Strategy：
Buy-in Price: $21.60, Target Price: $23.50, Cut Loss Price: $20.50
Source: Phillips
Analysis：
L`OCCITANE`s (973) sales exceeded the 2 billion mark in FY2023, totaling 2.134 billion, growing 17.9% at reported rates or 13.4% at constant rates, mainly driven by the outstanding performance of Sol de Janeiro and solid growth of ELEMIS.
Like-for-like sales growth was 8.4% in FY2023 Q4, a significant improvement from -1.7% in the three months ended 31 December 2022, mainly driven by the early positive signs in China and the travel retail and cruise ship channels.
Sol de Janeiro became the Group`s second largest brand with 267 million sale, accounting for 12.5% of the the Group`s total sales, a substantial increase from the 1.44% in FY2022.
With stellar growth of 135.2% in local currency, it became the Group`s fastest-growing brand.
ELEMIS recorded 255 million sales, returning to growth of 8.9% at constant rates and accounting for 12% of the Group`s total sales.
In terms of regional performance, the Americas, with 695 million sale, led the growth with 80.4% at reported rates or 62.8% at constant rates, mainly driven by the accelerated growth of Sol de Janeiro and the solid performance of ELEMIS in the US.
Due to COVID-19 outbreaks, the total number of stores in China decreased by 128 to 1,362 as at 31 March 2023 as compared to 1,490 as at 31 March 2022.
Supported by the gradual economy recovery, total number of China stores and overall sales are expected to return to growth in 2024. (I do not hold the above stock)
Strategy：
Buy-in Price: $21.60, Target Price: $23.50, Cut Loss Price: $20.50
Source: Phillips
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 119082
- Joined: Wed May 07, 2008 9:28 am
Re: L'Occitane 0973
by winston » Tue Jun 27, 2023 6:36 am
not vested
L'Occitane net dives 52pc to EUR115m
L'Occitane International (0973) saw a 52.4 percent slump in net profit to EUR115 million (HK$983 million) for the year ended March from a year ago but proposed a final dividend of EUR0.03129.
The French cosmetics brand reported a 19.8 percent growth in net sales to EUR2.13 billion during the period but operating profit dropped 23 percent to EUR239.1 million from a year ago, mainly due to impairments on two underperforming brands.
Source: The Standard
https://www.thestandard.com.hk/section- ... to-EUR115m
L'Occitane net dives 52pc to EUR115m
L'Occitane International (0973) saw a 52.4 percent slump in net profit to EUR115 million (HK$983 million) for the year ended March from a year ago but proposed a final dividend of EUR0.03129.
The French cosmetics brand reported a 19.8 percent growth in net sales to EUR2.13 billion during the period but operating profit dropped 23 percent to EUR239.1 million from a year ago, mainly due to impairments on two underperforming brands.
Source: The Standard
https://www.thestandard.com.hk/section- ... to-EUR115m
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 119082
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Re: L'Occitane 0973
by winston » Tue Jun 27, 2023 10:32 am
not vested
L'OCCITANE (00973.HK) Crashes Over 18% as Full-Yr Net Profit Declines More Than 52%
L'OCCITANE (00973.HK) opened 5.76% lower today, and descended to record a low of $18.2. It trades now at $18.4, crashing 18.4%, with 1.101 million shares traded, involving $22.2039 million in capital.
HSBC Global Research pointed out that the full-year impairment of L'OCCITANE was higher than expected.
Based on corporate visibility, the broker lowered its earnings per share forecast by 19% for the full-year ending March 2024, downgraded its investment rating to Hold, and lowered its target price from $32 to $25.
Related News: L'OCCITANE Annual Net Profit EUR115M, Down 52.4%; Final Div Cut to EUR3.129 Cents
L'OCCITANE announced yesterday its annual results for the year ended March.
Net profit attributable to shareholders fell 52.4% YoY to EUR115 million and earnings per share were EUR7.8 cents.
A final dividend of EUR3.129 cents was paid, representing a payout ratio of 40%, compared to EUR6.585 cents per share in the same period last year.
Operating profit was EUR239 million, down 23% YoY. The decline was mainly due to the impairment of two underperforming brands.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
L'OCCITANE (00973.HK) Crashes Over 18% as Full-Yr Net Profit Declines More Than 52%
L'OCCITANE (00973.HK) opened 5.76% lower today, and descended to record a low of $18.2. It trades now at $18.4, crashing 18.4%, with 1.101 million shares traded, involving $22.2039 million in capital.
HSBC Global Research pointed out that the full-year impairment of L'OCCITANE was higher than expected.
Based on corporate visibility, the broker lowered its earnings per share forecast by 19% for the full-year ending March 2024, downgraded its investment rating to Hold, and lowered its target price from $32 to $25.
Related News: L'OCCITANE Annual Net Profit EUR115M, Down 52.4%; Final Div Cut to EUR3.129 Cents
L'OCCITANE announced yesterday its annual results for the year ended March.
Net profit attributable to shareholders fell 52.4% YoY to EUR115 million and earnings per share were EUR7.8 cents.
A final dividend of EUR3.129 cents was paid, representing a payout ratio of 40%, compared to EUR6.585 cents per share in the same period last year.
Operating profit was EUR239 million, down 23% YoY. The decline was mainly due to the impairment of two underperforming brands.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 119082
- Joined: Wed May 07, 2008 9:28 am
Re: L'Occitane 0973
by winston » Tue Jun 27, 2023 12:30 pm
not vested
CLSA Downrates L'OCCITANE (00973.HK) to Outperform, TP Declines to $26.1
CLSA noted in a report that L'OCCITANE (00973.HK)'s full-year core operating margin was better than expected, but net profit fell short of expectations due to non-recurring items.
It has also seen strong growth during the first quarter of FY24, up 30% YoY, with sales outperforming the industry during the 618 festival.
The broker noted that the market was surprised to see the Group's operating margin decline to over 12% in FY24.
CLSA highlighted the company's belief that continued improvement in brand awareness and store sales would translate into operating leverage and support its medium-term growth targets.
However, the broker believes that the company's FY24 guidance may trigger a reduction in its earnings per share forecast and cause short-term sentiment volatility.
The broker raised its sales forecast for FY24 and FY25 by 4% and 3% respectively, but lowered its net profit forecast by 15% and 8% due to expected higher operating costs.
Related News: Jefferies Cuts L'OCCITANE (00973.HK) TP to $30.2, Rating Buy
CLSA also slightly decremented the target price of L'OCCITANE by 3% from $26.8 to $26.1. Its rating was also lowered from Buy to Outperform due to limited upside.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... 274806/all
CLSA Downrates L'OCCITANE (00973.HK) to Outperform, TP Declines to $26.1
CLSA noted in a report that L'OCCITANE (00973.HK)'s full-year core operating margin was better than expected, but net profit fell short of expectations due to non-recurring items.
It has also seen strong growth during the first quarter of FY24, up 30% YoY, with sales outperforming the industry during the 618 festival.
The broker noted that the market was surprised to see the Group's operating margin decline to over 12% in FY24.
CLSA highlighted the company's belief that continued improvement in brand awareness and store sales would translate into operating leverage and support its medium-term growth targets.
However, the broker believes that the company's FY24 guidance may trigger a reduction in its earnings per share forecast and cause short-term sentiment volatility.
The broker raised its sales forecast for FY24 and FY25 by 4% and 3% respectively, but lowered its net profit forecast by 15% and 8% due to expected higher operating costs.
Related News: Jefferies Cuts L'OCCITANE (00973.HK) TP to $30.2, Rating Buy
CLSA also slightly decremented the target price of L'OCCITANE by 3% from $26.8 to $26.1. Its rating was also lowered from Buy to Outperform due to limited upside.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... 274806/all
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 119082
- Joined: Wed May 07, 2008 9:28 am
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