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Estee Lauder | 10-K: FY2024 Annual Report

Estee Lauder | 10-K: FY2024 Annual Report

雅詩蘭黛 | 10-K:2024財年年報
美股SEC公告 ·  2024/08/20 01:02

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Estee Lauder reported fiscal 2024 net sales of $15.6 billion, down 2% from the prior year, with net earnings declining 61% to $390 million. The decline was primarily driven by lower skin care sales, which decreased 4% to $7.9 billion due to weakness in mainland China and Asia travel retail. Operating income fell 36% to $970 million, with operating margin contracting to 6.2% from 9.5%.The company recorded impairment charges of $471 million, including a $291 million goodwill impairment and $180 million trademark impairment related to Dr.Jart+, reflecting lower-than-expected growth and strategic shifts. By region, net sales in Asia/Pacific decreased 6% to $4.9 billion, while Europe, Middle East & Africa declined slightly to $6.1 billion. The Americas saw a slight increase to $4.6 billion.To improve profitability, the company launched a Profit Recovery and Growth Plan including a restructuring program targeting $350-500 million in annual benefits. The plan involves reducing 1,800-3,000 positions globally and is expected to result in charges of $500-700 million through fiscal 2026. The company maintained its quarterly dividend of $0.66 per share while suspending share repurchases.
Estee Lauder reported fiscal 2024 net sales of $15.6 billion, down 2% from the prior year, with net earnings declining 61% to $390 million. The decline was primarily driven by lower skin care sales, which decreased 4% to $7.9 billion due to weakness in mainland China and Asia travel retail. Operating income fell 36% to $970 million, with operating margin contracting to 6.2% from 9.5%.The company recorded impairment charges of $471 million, including a $291 million goodwill impairment and $180 million trademark impairment related to Dr.Jart+, reflecting lower-than-expected growth and strategic shifts. By region, net sales in Asia/Pacific decreased 6% to $4.9 billion, while Europe, Middle East & Africa declined slightly to $6.1 billion. The Americas saw a slight increase to $4.6 billion.To improve profitability, the company launched a Profit Recovery and Growth Plan including a restructuring program targeting $350-500 million in annual benefits. The plan involves reducing 1,800-3,000 positions globally and is expected to result in charges of $500-700 million through fiscal 2026. The company maintained its quarterly dividend of $0.66 per share while suspending share repurchases.
雅詩蘭黛公佈2024財年的淨銷售額爲156億美金,比去年下降2%,凈利潤下降61%至39000萬美金。下降主要是由於護膚品銷量下降,受中國大陸和亞洲旅遊零售疲軟影響,銷量減少4%,降至79億美金。營業收入下降36%至97000萬美金,營業利潤率也從9.5%收縮至6.2%。公司記錄了47100萬美金的減值費用,包括29100萬美金的商譽減值和18000萬美金的商標減值,涉及Dr.Jart+,反映出低於預期的增長和戰略轉變。從地域板塊來看,亞太地區的淨銷售額下降6%至49億美金,而歐洲、中東和非洲的銷售額略微下降至61億美金。美洲的銷售額略微增加至46億美金。爲了改善盈利能力,公司推出了利潤恢復與增長計劃,包括一個重組項目,目標是每年節省35000-50000萬美金的收益。該計劃涉及全球減少1800-3000個職位,預計將在2026財政年度之前產生50000-70000萬美金的費用。公司維持每股0.66美金的季度股息,同時暫停回購股票。
雅詩蘭黛公佈2024財年的淨銷售額爲156億美金,比去年下降2%,凈利潤下降61%至39000萬美金。下降主要是由於護膚品銷量下降,受中國大陸和亞洲旅遊零售疲軟影響,銷量減少4%,降至79億美金。營業收入下降36%至97000萬美金,營業利潤率也從9.5%收縮至6.2%。公司記錄了47100萬美金的減值費用,包括29100萬美金的商譽減值和18000萬美金的商標減值,涉及Dr.Jart+,反映出低於預期的增長和戰略轉變。從地域板塊來看,亞太地區的淨銷售額下降6%至49億美金,而歐洲、中東和非洲的銷售額略微下降至61億美金。美洲的銷售額略微增加至46億美金。爲了改善盈利能力,公司推出了利潤恢復與增長計劃,包括一個重組項目,目標是每年節省35000-50000萬美金的收益。該計劃涉及全球減少1800-3000個職位,預計將在2026財政年度之前產生50000-70000萬美金的費用。公司維持每股0.66美金的季度股息,同時暫停回購股票。

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