L'OREAL's consolidated sales for the nine month period ending September 30, 1999 totalled FRF 52.53 billion, i.e. EUR 8 billion.

Compared with the same period in 1998, the growth was 11.2 % on pro forma published figures, 12.5 % excluding exchange rate impact and 11.9 % on a like-for-like basis.

This pro forma published growth is slightly higher than that established at June 30, 1999. The exchange rate impact which was negative by 2.8 % over the first six months has been brought down to 1.3 % at the nine month period.

On a structural level, the group benefited from a light positive effect of 0.6 % owing to some cosmetic and dermatological subsidiaries being consolidated.

It is noteworthy that SYNTHELABO was consolidated by the global consolidation method in 1998, but since its merger with SANOFI last spring it has been consolidated by the equity method. The newly-formed group, SANOFI-SYNTHELABO has been consolidated by the equity method since July 1, 1999.

Sales growth per main branch was as follows :
Growth (in %)
On pro forma
published figures
excluding currency effects
Cosmetics + 11.0 % + 12.3 %
Dermatology
+ 28.3 % + 30.0 %