Summary by Futu AI
L'OCCITANE announced its full-year performance for the year ending on March 31, 2024, with net sales increasing by 24.1% at a fixed exchange rate, reaching the milestone of 2.5 billion euros, or 2,541,900,000 euros. Growth was mainly driven by strong performances from Sol de Janeiro and stable performance from L'OCCITANE en Provence. Operating profit was 233,100,000 euros, and the operating profit margin was 9.2%. Excluding special impacts, operating profit reached 308,400,000 euros, and the operating profit margin was 12.1%, compared to 15.8% last year. Net profit for the year was 101,823,000 euros, a decrease of 13.9% from last year. Basic and diluted earnings per share were 0.064 euros. The company announced on April 29, 2024 that it had received a privatization proposal and plans to delist from the Hong Kong Stock Exchange. The board of directors has complied with all applicable provisions of the Corporate Governance Code set out in Appendix C1 of the Listing Rules and held its annual general meeting of shareholders on September 25, 2024.