L'Oréal: News release: "Annual General Meeting Postponed - 2020 Outlook"
March 30 2020 - 12:05PM
L'Oréal: News release: "Annual General Meeting Postponed - 2020
Outlook"
Clichy, Monday 30 March 2020
ANNUAL GENERAL MEETING
POSTPONED2020 OUTLOOK
ANNUAL GENERAL MEETING
POSTPONED
In exceptional circumstances linked to the
Covid-19 epidemic, the Board of Directors of L’Oréal gathered today
and decided to postpone the Annual General Meeting, initially
scheduled for the 21st of April, to 30th June 2020.
The Board of Directors will in due course
determine the arrangements to be made for the holding of the
Meeting, as well as for the dividend and its date of payment.
2020 OUTLOOK
The spread of the pandemic to all geographic
areas, and the measures taken by various countries in terms of
store closures and the containment of consumers, will have a higher
impact than initially forecast on the consumption of cosmetics and
beauty products, and therefore on our business in the coming
months, even if we are currently seeing encouraging signs of
recovery in Chinese consumption.
All L’Oréal teams are mobilised to enable the
company to traverse this unprecedented crisis in the best possible
way, and to re-accelerate as soon as conditions permit in each
geographic Zone.
Our priority in this difficult period is to
ensure the welfare of our employees and our partners. The lack of
visibility on the timing of an end to this health crisis leads us
to suspend our guidance. The Group will provide more information
when it publishes its first quarter sales on 16 April 2020, and
notes that sales over that period should evolve around -5% compared
to last year.
“This news release does not constitute an offer
to sell, or a solicitation of an offer to buy L’Oréal shares. If
you wish to obtain more comprehensive information about L’Oréal,
please refer to the public documents registered in France with the
Autorité des Marchés Financiers, also available in English on our
Internet site www.loreal-finance.com.This news release may contain
some forward-looking statements. Although the Company considers
that these statements are based on reasonable hypotheses at the
date of publication of this release, they are by their nature
subject to risks and uncertainties which could cause actual results
to differ materially from those indicated or projected in these
statements.”
CONTACTS AT L'ORÉAL
Switchboard: +33 1 47 56 70 00
Individual shareholders and market authorities
Jean Régis CAROF Tel: +33 1 47 56 83 02
jean-regis.carof@loreal.com
Financial analysts and institutional investors
Françoise LAUVIN Tel: +33 1 47 56 86 82
francoise.lauvin@loreal.com
Journalists Domitille FAFIN Tel:
+33 1 47 56 76 71
domitille.fafin@loreal.com
For more information, please contact your bank,
broker or financial institution (I.S.I.N. code: FR0000120321), and
consult your usual newspapers, the Internet site for shareholders
and investors, www.loreal-finance.com or the L’Oréal Finance app,
alternatively, call +33 1 40 14 80 50.
www.loreal-finance.com - Follow us on Twitter
@loreal
- LOREAL_NewsRelease_2020_03_30
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