Artificial Intelligence
L’Oréal: News release: “2021 Half-Year Results”
Clichy, 29 July 2021 at 6.00 p.m.
2021 Half-Year Results
An exceptional first-half:
+20.7% like-for-like growth
Further increase in profitability
- Sales: 15.19 billion euros
- +20.7% like-for-like1
- +21.8% at constant exchange rates
- +16.2% based on reported figures
- Exceptional growth at +33.5% in the second quarter1
- Market share gains in all Divisions and all geographic Zones
- Strong acceleration in North America: +44.7%1 in the second quarter
- E-commerce continues to post very strong growth at +29.2%2
- Operating margin at 19.7%, an increase of 170 basis points
- Significant increase in EPS3: +21.1% at €4.63
Commenting on these figures, Mr Nicolas Hieronimus, Chief Executive Officer of L’Oréal, said:
“With the health situation still uncertain, the beauty market is gradually recovering and has recorded double-digit growth. As a result of the determination and continued commitment of our teams, that I wish to warmly thank, L’Oréal is significantly outperforming the market, with an exceptional second quarter. By the end of June, the Group posted a very strong increase and returned to its pre–Covid growth rate, up +6.6% like-for-like compared to the first half of 2019, with an acceleration of +8.4% in the second quarter compared to 2019.
L’Oréal recorded market share gains in all Divisions and all geographic Zones. This remarkable performance reflects the relevance and healthy balance of our multi-faceted model in terms of geographic footprint, brands and categories. The Professional Products Division has successfully transformed its business model and achieved record performance. The Consumer Products Division recorded double-digit growth in the second quarter, thanks in particular to the recovery of makeup. L’Oréal Luxe also saw a sharp rise in fragrance sales and significantly outperformed the market. The Active Cosmetics Division achieved record growth, demonstrating that its brand portfolio is perfectly adapted to consumers’ health and beauty aspirations.
Our geographic Zones have now been redefined around more homogeneous consumption areas. All achieved double-digit growth. North Asia continued to perform well, still driven by mainland China where L’Oréal continues to strengthen its undisputed leadership, while North America saw a return to growth with a tremendous acceleration in the second quarter. In Europe, L’Oréal significantly outperformed the market, which is starting to recover gradually; all countries in this Zone are growing, led by the United Kingdom, France and Russia. The Group performed well in SAPMENA-SSA4 and in Latin America, with a marked progression in Brazil.
Our digital excellence has enabled brands to engage, recruit and retain consumers and partners alike. E–commerce continues to grow, at a more moderate rate due to the reopening of retail channels, and accounts for 27.3% of sales. Benefiting from a slight recovery in international travel and the success of Hainan, Travel Retail has bounced back.
The first-half results increased sharply and are of excellent quality. They are evidence of the L’Oréal virtuous circle: a strong improvement in gross margin combined with good cost control has enabled us to invest significantly in developing our brands and deliver once again an increase in profitability.
At the same time, societal and environmental engagement remains a priority. In June, we launched the very first “L’Oréal Groupe” global campaign, to make our consumers, shareholders and all our stakeholders aware of the actions behind our purpose: “Create the beauty that moves the world.” We also unveiled “L’Oréal For Youth”, a global programme designed to boost youth employment by increasing the number of job opportunities for under 30s by 30%.
L’Oréal has again gained strength in the early part of the year and is well positioned to continue to grow at its pre-crisis pace, leveraging on technology, data and Artificial Intelligence to become the Beauty Tech company. In the second half of 2021, we will pursue our offensive product launch strategy while at the same time investing in relevant growth drivers to spur the future growth and the desirability of our brands. We are more confident than ever in our ability to outperform the market and achieve a year of growth in both sales and results.”
2021 Half-Year Sales
Like-for-like, i.e. based on a comparable structure and identical exchange rates, sales of the L’Oréal group grew by +20.7%.
The net impact of changes in the scope of consolidation was +1.1%.
Growth at constant exchange rates came out at +21.8%.
Currency fluctuations had a negative impact of -5.6%. If the exchange rates at 30 June 2021, i.e.
€1 = $1.1871, are extrapolated until 31 December 2021, the impact of currency fluctuations on sales would be approximately -2.3% for the whole of 2021.
Based on reported figures, the Group’s sales at 30 June 2021 amounted to 15.19 billion euros, i.e.
an increase of +16.2%.
Sales by Division and geographic Zone
During the first half of 2021, the Group redefined its geographic Zones. At 30 June 2021, sales by geographic Zone reflect this organisation and break down as follows: Europe, North America, North Asia, SAPMENA – SSA5 and Latin America. The data relating to previous periods have been restated to reflect these changes.
| 2nd quarter 2021 | 1st half 2021 | |||||
| Growth | Growth | |||||
| €m | Like-for-like | Reported | €m | Like-for-like | Reported | |
| By Division | ||||||
| Professional Products | 930.4 | +65.9% | +57.5% | 1,778.7 | +41.0% | +32.6% |
| Consumer Products | 2,990.1 | +14.2% | +11.5% | 5,963.4 | +6.3% | +1.9% |
| L’Oréal Luxe | 2,702.5 | +45.7% | +40.9% | 5,472.2 | +28.1% | +24.9% |
| Active Cosmetics | 959.1 | +48.4% | +44.9% | 1,982.4 | +37.5% | +32.0% |
| Group total | 7,582.1 | +33.5% | +29.6% | 15,196.6 | +20.7% | +16.2% |
| By geographic Zone | ||||||
| Europe | 2,392.1 | +27.8% | +27.6% | 4,857.1 | +11.9% | +11.6% |
| North America | 1,952.1 | +44.7% | +33.7% | 3,765.7 | +23.2% | +13.8% |
| North Asia | 2,296.5 | +26.5% | +23.3% | 4,670.9 | +27.3% | +23.2% |
| SAPMENA – SSA5 | 520.1 | +40.7% | +33.7% | 1,093.9 | +19.9% | +13.3% |
| Latin America | 421.2 | +54.8% | +59.3% | 809.0 | +32.8% | +22.7% |
| Group total | 7,582.1 | +33.5% | +29.6% | 15,196.6 | +20.7% | +16.2% |
Summary by Division
PROFESSIONAL PRODUCTS
The Professional Products Division recorded very strong growth at +41.0% like-for-like and +32.6% reported, again strengthening its leadership in a market which is gradually recovering from the health crisis.
The Division benefits from the three underlying trends in the sector: the digitalisation of salons, the development of freelance stylists, and the explosion of e-commerce. All geographic Zones saw sales growth, with record performance in the United States. The Division also confirmed its success in mainland China with very strong growth in e-commerce and in salons. It continued its growth trend in Europe, driven by Germany and France.
Haircare remains the number one category for growth, led by a particularly dynamic Kérastase, the successful launch of Curl Manifesto and the success of Genesis, as well as good performance from Metal Detox by L’Oréal Professionnel and Acidic Bonding Concentrate by Redken. In hair colour, Shades EQ by Redken recorded strong growth.
CONSUMER PRODUCTS
The Consumer Products Division ended the first half of the year at +6.3% like-for-like and +1.9% based on reported figures, with a rebound of +14.2% in the second quarter.
The Division outperformed the market and grew in all geographic Zones, notably in mainland China, Brazil, Indonesia and the major European countries. E-commerce continued to grow strongly and now accounts for more than 20% of sales.
The Division achieved record market share in makeup, especially in North America and Europe, thanks in particular to the highly successful launches of Sky High Mascara by Maybelline New York, Infallible powder by L’Oréal Paris and Shine Loud lipstick by NYX Professional Makeup. Haircare saw double-digit growth thanks to an extremely buoyant market in mainland China, as well as in Europe and Brazil with the success of major innovations such as Full Resist and 8 Second Wonder Water by L’Oréal Paris. Facial skincare continued to accelerate. Revitalift Filler with hyaluronic acid by L’Oréal Paris has become the world’s biggest-selling serum. Mainland China’s leading skincare brand L’Oréal Paris continued to gain market share with the launch of Ampoule in Cream. Garnier is successfully rolling out a new Vitamin C booster serum.
L’ORÉAL LUXE
With the luxury beauty market strongly bouncing back in the first half of the year, L’Oréal Luxe posted growth at +28.1% like-for-like and +24.9% reported.
In all geographical Zones, the Division significantly outperformed the market, marked by the gradual reopening of selective distribution. L’Oréal Luxe performed very well in North Asia, particularly among Chinese consumers. It also confirmed its solidity in Europe and saw a very strong recovery in North America.
The Division gained market share in all three of its categories. First of all in skincare, thanks to its powerful global brands Lancôme and Kiehl’s, a dynamic premium segment with Helena Rubinstein and the couture lines Yves Saint Laurent and Giorgio Armani, as well as the successful integration of Takami. Secondly, in the fragrances category, which is extremely dynamic in North America and mainland China, thanks to the complementarity of Giorgio Armani, Valentino, Maison Margiela, Ralph Lauren, Yves Saint Laurent and the recently acquired Mugler and Azzaro brands, which delivered very strong performance, significantly outperforming the market. And finally in makeup, the Division showed clear signs of recovery in North Asia —driven by Lancôme, Yves Saint Laurent and Shu Uemura— as well as in the United States thanks to Lancôme and Urban Decay, which again won market share.
ACTIVE COSMETICS
In a significantly improving market, the Active Cosmetics Division recorded particularly strong growth in the first half of the year, at +37.5% like-for-like and +32.0% based on reported figures.
The Division continued to record very strong growth, with its skincare brand portfolio perfectly adapted to consumers’ health-related aspirations, which increased further during the pandemic. It also continued to leverage the solid relationships developed with healthcare professionals and its digital and e-commerce expertise.
All major brands recorded strong growth. CeraVe doubled in size while La Roche-Posay continued to accelerate, supported by the excellent performance of Effaclar and Cicaplast. SkinCeuticals continued to grow rapidly, driven by the innovation Silymarin CF. Vichy recovered and posted double-digit growth.
The Division saw very strong growth in all geographical Zones, outperforming the market with exceptional performance in the United States, mainland China and the United Kingdom. Thanks to a targeted omnichannel activation strategy, e-commerce sales remained extremely buoyant while in-store sales posted strong double-digit growth.
Summary by geographic Zone
During the first half of 2021, the Group redefined its geographic Zones. At 30 June 2021, sales by geographic Zone reflect this organisation and break down as follows: Europe, North America, North Asia, SAPMENA – SSA6 and Latin America.
EUROPE
The new Europe Zone, which brings together Western Europe and Eastern Europe, is the largest of the Group in terms of sales. It grew by +11.9% like-for-like and +11.6% based on reported figures.
At the end of June, all countries reported growth and L’Oréal strengthened its leadership in Germany, the United Kingdom, Russia and the Scandinavian countries.
In the second quarter, sales are close to pre-crisis levels, with the exception of Travel Retail, which is still badly affected by the health situation and the restrictions on international travel. E-commerce saw very strong growth.
The Consumer Products Division gained market share, especially in makeup and haircare; Maybelline New York strengthened its leadership in the makeup category. L’Oréal Luxe continued to gain market share, especially in fragrances. The Active Cosmetics Division considerably increased its market share, driven by the dynamism of La Roche-Posay, which confirmed its position as Europe’s No.1 dermocosmetics brand, and the rapid development of CeraVe. Finally, the Professional Products Division recorded significant growth despite the closure of salons in several countries in the first quarter, thanks to the buoyancy of e-commerce sales.
NORTH AMERICA
The Zone posted strong growth, at +23.2% like-for-like and +13.8% based on reported figures.
In the United States, the Group accelerated strongly in the second quarter despite temporary sourcing pressures, with a marked recovery in makeup while sales of skincare and fragrances are far above 2019 levels. In-store sales picked up and e-commerce more than doubled in two years.
All Divisions achieved market share gains in the second quarter. The Consumer Products Division accelerated, driven by the launch of Sky High Mascara by Maybelline New York and the confirmed recovery of NYX Professional Makeup. L’Oréal Luxe benefited from the recovery of in-store sales and the explosion of the fragrances category. Driven by the power of the SalonCentric distribution channel, the Professional Products Division recorded excellent performance and gained market share in haircare and hair colour. Finally, sales for the Active Cosmetics Division, driven by the remarkable performance of CeraVe and the acceleration of La Roche-Posay, close to doubled compared with the first half of 2019.
NORTH ASIA
The Zone saw strong growth at +27.3% like-for-like and +23.2% reported.
Chinese consumer demand for the big brands remained high, particularly for luxury beauty. The Group consolidated its leadership in mainland China, still a major contributor to L’Oréal’s overall performance, with an increase of +34.2%. Confirming the recovery which began in the second quarter of 2020, L’Oréal China gained market share in all Divisions and all categories. Online sales continued to grow strongly, driven by the arrival of new online retailers. During the important online shopping festival on 18 June, L’Oréal Paris established itself as the leading beauty brand on Tmall and JD, with Lancôme also in the top 3.
Japan and South Korea were both affected by the resurgence of Covid-19 and posted moderate performance in the first half of the year. Travel Retail continued to grow in the second quarter, particularly in Hainan.
E-commerce recorded strong growth in the Zone and in-store sales recovered at different rates from one country to another.
L’Oréal Luxe accelerated strongly in online sales and gained market share. Its growth was driven by skincare, with Absolue by Lancôme and Helena Rubinstein in particular, and by the strong recovery of makeup. The Consumer Products Division gained market share in haircare while the Active Cosmetics Division saw its growth accelerate, driven by La Roche-Posay. The Professional Products Division posted record growth, thanks in particular to Kérastase and L’Oréal Professionnel.
SAPMENA – SSA7
The Zone grew by +19.9% like-for-like and +13.3% based on reported figures. The Pacific and Gulf states started to recover while in India the Covid-19 pandemic continued to affect sales in the second quarter. In South-East Asia, many countries including Malaysia, Thailand, the Philippines and Indonesia have been subject to heavy public health restrictions. Vietnam has maintained strong growth.
The growth of the SAPMENA Zone was driven by the Consumer Products Division, with good momentum from Garnier and Maybelline New York, by L’Oréal Luxe in fragrances and skincare, as well as by the Active Cosmetics Division with La Roche-Posay. The expansion of e-commerce, which is seeing marked growth in Southern Asia and India, fuelled growth in all Divisions.
In Sub-Saharan Africa (SSA), growth was driven by South Africa, which posted strong double-digit growth.
LATIN AMERICA
The Zone recorded strong growth of +32.8% like-for-like and +22.7% based on reported figures. The recovery of the beauty market has accelerated in recent months with the gradual easing of lockdown measures and the lifting of restrictions on movement in all countries. Despite a complicated public health situation, Brazil was a strong contributor to growth and significantly outperformed the market, driven by the Consumer Products and Active Cosmetics Divisions.
With Brazil, Mexico and Chile leading the way, all countries and all Divisions recorded double-digit growth. All categories saw strong growth thanks to the quality of innovations and the success of the Group’s iconic brands and products, particularly in haircare and skincare. With the reopening of distribution channels, particularly department stores and hair salons, in-store sales saw a return to growth, while e-commerce sales almost doubled compared to the first half of 2020.
Important events during the period 1/4/21 to 30/6/21 and post-closing events
- On 20 April, L’Oréal held its Annual General Meeting behind closed doors. All resolutions were approved, including:
- Payment of a dividend of €4 per share;
- Appointments as directors of Mr Nicolas Hieronimus and Mr Alexandre Ricard, as well as renewal of the tenures as directors of Ms Françoise Bettencourt Meyers, Mr Paul Bulcke and Ms Virginie Morgon;
- Dissociation of the functions of Chairman of the Board of Directors and Chief Executive Officer. Mr Jean-Paul Agon will continue to fulfil the role of Chairman as he has done since 2011 and Mr Nicolas Hieronimus was appointed Chief Executive Officer as of 1 May 2021.
- On 20 April, the L’Oréal Board of Directors decided, on the basis of the authorisation approved by the Annual General Meeting of 20 April 2021, to buy back L’Oréal shares for a maximum amount of
1.2 billion euros and a maximum of 3 million shares, in a period starting 3 May 2021 and ending
30 June 2021, in a view to cancelling them. 3,000,000 shares were bought back from 3 May to
18 June 2021. - On 22 April, L’Oréal announced the appointment of Asmita Dubey as Chief Digital Officer, a member of the Executive Committee, to drive the second phase of the Group’s digital transformation.
- On 23 June, L’Oréal announced the creation of the Europe Zone, led by Vianney Derville, previously President of the Western Europe Zone.
- On 29 July, the Board of Directors has decided to cancel 3,000,000 shares bought back, effective on 30 July 2021, pursuant the share buyback programme decided on 20 April 2021.
2021 Half-Year Results
The limited review procedures of the half-year consolidated accounts have been completed. The limited review report is being prepared by the Statutory Auditors.
Operating profitability at 19.7% of sales
Consolidated profit and loss account: from sales to operating profit.
| In € million | 30/6/20 | As % of sales | 31/12/20 | As % of sales | 30/6/21 | As % of sales | Change
H1-2021 vs. H1-2020 |
| Sales | 13,076.5 | 100.0% | 27,992.1 | 100.0% | 15,196.6 | 100.0% | +16.2% |
| Cost of sales | -3,512.3 | 26.9% | -7,532.3 | 26.9% | –3,869.5 | 25.5% | |
| Gross profit | 9,564.2 | 73.1% | 20,459.8 | 73.1% | 11,327.1 | 74.5% | +18.4% |
| R&I expenses | -455.3 | 3.5% | -964.4 | 3.4% | –489.1 | 3.2% | |
| Advertising and promotion expenses | -3,986.5 | 30.5% | -8,647.9 | 30.9% | –4,951.6 | 32.6% | |
| Selling, general and administrative expenses | -2,765.2 | 21.1% | -5,638.5 | 20.1% | –2,898.2 | 19.1% | |
| Operating profit | 2,357.2 | 18.0% | 5,209.0 | 18.6% | 2,988.1 | 19.7% | +26.8% |
Gross profit, at 11,327 million euros, came out at 74.5% of sales, an increase of 140 basis points compared to the first half of 2020.
Research and Innovation expenses, at 489 million euros, came out at 3.2% of sales.
Advertising and promotion expenses came out at 32.6% of sales, an increase of 210 basis points.
Selling, general and administrative expenses, at 19.1% of sales, decreased by 200 basis points compared to the first half of 2020.
Overall, operating profit came out at 2,988 million euros, an increase of 170 basis points compared to the 2020 first half, at 19.7% of sales.
Operating profit by Division
| 30/6/20 | 31/12/20 | 30/6/21 | ||||
| €m | % of sales | €m | % of sales | €m | % of sales | |
| By Division | ||||||
| Professional Products | 140.0 | 10.4% | 581.7 | 18.8% | 363.9 | 20.5% |
| Consumer Products | 1,243.7 | 21.3% | 2,388.1 | 20.4% | 1,193.4 | 20.0% |
| L’Oréal Luxe | 892.0 | 20.4% | 2,275.9 | 22.4% | 1,301.9 | 23.8% |
| Active Cosmetics | 433.8 | 28.9% | 766.0 | 25.4% | 570.0 | 28.8% |
| Total Divisions
before non-allocated |
2,709.5 | 20.7% | 6,011.6 | 21.5% | 3,429.1 | 22.6% |
| Non-allocated8 | –352.3 | -2.7% | -802.6 | -2.9% | -441.0 | -2.9% |
| Group | 2,357.2 | 18.0% | 5,209.0 | 18.6% | 2,988.1 | 19.7% |
The L’Oréal group is managed on an annual basis. This means that half-year operating profits cannot be extrapolated for the whole year.
The profitability of the Professional Products Division went from 10.4% to 20.5%.
The profitability of the Consumer Products Division increased at 20.0% compared to the first half of 2020 at 21.3% of sales.
L’Oréal Luxe improved by 340 basis points at 23.8%.
The profitability of the Active Cosmetics Division slightly decreased by 10 basis points, still at a very high level at 28.8%.
Net profit excluding non-recurring items
Consolidated profit and loss account: from operating profit to net profit excluding non-recurring items.
| In € million | 30/6/20 | 31/12/20 | 30/6/21 | Change
H1-2021 vs. H1-2020 |
| Operating profit | 2,357.2 | 5,209.0 | 2 988.1 | +26.8% |
| Financial revenues and expenses | -36.5 | -95.9 | -29.4 | |
| Sanofi dividends | 372.4 | 372.4 | 378.3 | |
| Profit before tax and associates excluding non-recurring items |
2,693.0 | 5,485.5 | 3,337.0 | |
| Income tax excluding non-recurring items | -547.9 | -1,383.1 | -731.9 | |
| Net profit excluding non-recurring items of equity consolidated companies |
+0.7 | +0.9 | +0.3 | |
| Non-controlling interests | -1.1 | -4.2 | -5.4 | |
| Net profit excluding non-recurring items, after non-controlling interests9 |
2,144.8 | 4,099.0 | 2,600.0 | +21.2% |
| EPS10(€) | 3.82 | 7.30 | 4.63 | +21.1% |
| Diluted average number of shares | 561,233,745 | 561,635,963 | 561,833,554 |
Overall financial expenses came out at 29.4 million euros.
Sanofi dividends amounted to 378.3 million euros.
Income tax excluding non-recurring items came out at 731.9 million euros, i.e. a tax rate of 21.9%, higher than the first half of 2020.
Net profit excluding non-recurring items after non-controlling interests came out at 2,600 million euros.
Earnings per share, at 4.63 euros, increased by +21.1% compared with the first half of 2020.
Net profit
Consolidated profit and loss account: from net profit excluding non-recurring items to net profit.
| In € million | 30/6/20 | 31/12/20 | 30/6/21 |
| Net profit excluding non-recurring items, after non-controlling interests 9 |
2,144.8 | 4,099.0 | 2,600.0 |
| Non-recurring items | -322.3 | -535.7 | -237.4 |
| of which: | |||
|
-407.1 | -709.0 | –315.3 |
|
+84.8 | +173.3 | +77.9 |
| Net profit after non-controlling interests | 1,822.5 | 3,563.4 | 2,362.6 |
Non-recurring items amounted to 237.4 million euros net of tax of which 315.3 million euros of other income and expenses. They mainly include an impairment charge on the goodwill of It Cosmetics for 250 million euros.
Operating cash flow and balance sheet
Gross cash flow amounted to 3,336.1 million euros an increase of 25.0%.
The change in working capital amounted to 675.1 million euros.
Investments at 523.1 million euros represented 3.4% of sales.
Operating cash flow11 amounted to 2,137.9 million euros, an increase of 67.7%.
At 30 June 2021, after taking into account finance lease liabilities for 1,579 million euros, net cash amounted to 2,372.8 million euros.
“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.”
This is a free translation into English of the 2021 Half-Year Results news release issued in the French language and is provided solely for the convenience of English-speaking readers. In case of discrepancy, the French version prevails.
Contacts at L’ORÉAL (Switchboard: +33 1 47 56 70 00)
Individual shareholders Financial analysts and
and market authorities Institutional investors Journalists
Mr Christian MUNICH Ms Françoise LAUVIN Ms Polina HUARD
Tel: +33 1 47 56 72 06 Tel: +33 1 47 56 86 82 Tel: +33 1 47 56 87 88
[email protected] [email protected] [email protected]
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.
Appendices
Appendix 1: L’Oréal group sales 2020/2021 (€ million)
| 2020 | 2021 | |
| First quarter | 7,225.2 | 7,614.5 |
| Second quarter | 5,851.3 | 7,582.1 |
| First half total | 13,076.5 | 15,196.6 |
| Third quarter | 7,036.8 | |
| Nine months total | 20,113.3 | |
| Fourth quarter | 7,878.8 | |
| Full year total | 27,992.1 |
Appendix 2: Compared consolidated income statements
| € millions | 1st half 2021 | 1st half 2020 | 2020 |
| Net sales | 15,196.6 | 13,076.5 | 27,992.1 |
| Cost of sales | -3,869.5 | -3,512.3 | -7,532.3 |
| Gross profit | 11,327.1 | 9,564.2 | 20,459.8 |
| Research & innovation expenses | -489.1 | -455.3 | -964.4 |
| Advertising and promotion expenses | -4,951.6 | -3,986.5 | -8,647.9 |
| Selling, general and administrative expenses | -2,898.2 | -2,765.2 | -5,638.5 |
| Operating profit | 2,988.1 | 2,357.2 | 5,209.0 |
| Other income and expenses | -315.3 | -407.1 | -709.0 |
| Operational profit | 2,672.8 | 1,950.1 | 4,500.0 |
| Finance costs on gross debt | -22.5 | -33.3 | -79.2 |
| Finance income on cash and cash equivalents | 12.4 | 10.6 | 19.8 |
| Finance costs, net | -10.1 | -22.7 | -59.4 |
| Other financial income and expenses | -19.2 | -13.8 | -36.5 |
| Sanofi dividends | 378.3 | 372.4 | 372.4 |
| Profit before tax and associates | 3,021.7 | 2,286.0 | 4,776.5 |
| Income tax | -654.0 | -463.1 | -1,209.8 |
| Share of profit in associates | 0.3 | 0.7 | 0.9 |
| Net profit | 2,368.0 | 1,823.6 | 3,567.6 |
| Attributable to: | |||
|
2,362.6 | 1,822.5 | 3,563.4 |
|
5.4 | 1.1 | 4.2 |
| Earnings per share attributable to owners of the company (euros) | 4.22 | 3.26 | 6.37 |
| Diluted earnings per share attributable to owners of the company (euros) | 4.21 | 3.25 | 6.34 |
| Earnings per share attributable to owners of the company, excluding non-recurring items (euros) |
4.65 | 3.84 | 7.33 |
| Diluted earnings per share attributable to owners of the company, excluding non-recurring items (euros) |
4.63 | 3.82 | 7.30 |
Appendix 3: Consolidated statement of comprehensive income
| € millions | 1st half 2021 | 1st half 2020 | 2020 |
| Consolidated net profit for the period | 2,368.0 | 1,823.6 | 3,567.6 |
| Cash flow hedges | -155.6 | 106.6 | 129.1 |
| Cumulative translation adjustments | 281.5 | -271.8 | -790.2 |
| Income tax on items that may be reclassified to profit or loss (1) | 31.8 | -27.9 | -23.3 |
| Items that may be reclassified to profit or loss | 157.7 | -193.1 | -684.4 |
| Financial assets at fair value through other comprehensive income | 1,151.6 | 129.1 | -1,269.1 |
| Actuarial gains and losses | 386.2 | -159.2 | -225.6 |
| Income tax on items that may not be reclassified to profit or loss (1) | -130.1 | 36.5 | 97.8 |
| Items that may not be reclassified to profit or loss | 1,407.6 | 6.4 | -1,396.9 |
| Other comprehensive income | 1,565.3 | -186.7 | -2,081.3 |
| Consolidated comprehensive income | 3,933.3 | 1,636.9 | 1,486.3 |
| Attributable to: | |||
|
3,927.9 | 1,635.8 | 1,482.1 |
|
5.4 | 1.1 | 4.2 |
(1) The tax effect is as follows:
| € millions | 1st half 2021 | 1st half 2020 | 2020 |
| Cash flow hedges | 31.8 | -27.9 | -23.3 |
| Items that may be reclassified to profit or loss | 31.8 | -27.9 | -23.3 |
| Financial assets at fair value through other comprehensive income | -36.9 | -3.4 | 40.4 |
| Actuarial gains and losses | -93.3 | 39.9 | 57.4 |
| Items that may not be reclassified to profit or loss | -130.1 | 36.5 | 97.8 |
| TOTAL | -98.3 | 8.6 | 74.5 |
Appendix 4: compared consolidated balance sheets
▌ ASSETS
| € millions | 30.06.2021 | 30.06.2020 | 31.12.2020 |
| Non-current assets | 30,192.7 | 30,806.3 | 29,046.8 |
| Goodwill | 10,559.0 | 10,856.5 | 10,514.2 |
| Other intangible assets | 3,455.0 | 3,066.7 | 3,356.3 |
| Right-of-use assets | 1,414.3 | 1,723.7 | 1,525.3 |
| Property, plant and equipment | 3,182.9 | 3,418.0 | 3,225.2 |
| Non-current financial assets | 10,786.5 | 10,932.2 | 9,604.8 |
| Investments accounted for the equity method | 10.5 | 11.4 | 11.1 |
| Deferred tax assets | 784.5 | 797.8 | 809.9 |
| Current assets | 13,762.9 | 15,045.7 | 14,560.1 |
| Inventories | 2,948.2 | 2,947.6 | 2,675.8 |
| Trade accounts receivable | 3,991.8 | 3,756.1 | 3,511.3 |
| Other current assets | 1,869.4 | 1,698.1 | 1,732.7 |
| Current tax assets | 129.3 | 202.3 | 234.4 |
| Cash and cash equivalents | 4,824.3 | 6,441.6 | 6,405.9 |
| TOTAL | 43,955.6 | 45,852.0 | 43,606.9 |
▌ EQUITY & LIABILITIES
| € millions | 30.06.2021 | 30.06.2020 | 31.12.2020 |
| Equity | 29,636.8 | 28,987.0 | 28,998.8 |
| Share capital | 112.1 | 111.9 | 112.0 |
| Additional paid-in capital | 3,265.6 | 3,158.2 | 3,259.8 |
| Other reserves | 18,909.3 | 18,581.3 | 18,642.5 |
| Other comprehensive income | 5,588.5 | 5,680.9 | 4,304.5 |
| Cumulative translation adjustments | -607.9 | -371.0 | -889.2 |
| Treasury shares | — | — | — |
| Net profit attributable to owners of the company | 2,362.6 | 1,822.5 | 3,563.4 |
| Equity attributable to owners of the company | 29,630.2 | 28,983.8 | 28,993.0 |
| Non-controlling interests | 6.6 | 3.2 | 5.8 |
| Non-current liabilities | 2,987.6 | 3,414.2 | 3,478.0 |
| Provisions for employee retirement obligations and related benefits | 650.0 | 941.4 | 1,013.5 |
| Provisions for liabilities and charges | 57.9 | 56.7 | 56.8 |
| Non-current tax liabilities | 364.2 | 251.9 | 397.9 |
| Deferred tax liabilities | 710.0 | 693.8 | 706.6 |
| Non-current borrowings and debt | 8.9 | 9.6 | 8.5 |
| Non-current lease debt | 1,196.5 | 1,460.7 | 1,294.7 |
| Current liabilities | 11,331.3 | 13,450.8 | 11,130.1 |
| Trade accounts payable | 5,386.3 | 4,124.6 | 4,764.5 |
| Provisions for liabilities and charges | 1,211.1 | 1,029.6 | 1,224.7 |
| Other current liabilities | 3,263.5 | 5,160.1 | 3,682.5 |
| Income tax | 224.3 | 326.9 | 215.1 |
| Current borrowings and debt | 863.6 | 2,411.5 | 856.4 |
| Current lease debt | 382.5 | 398.1 | 386.9 |
| TOTAL | 43,955.6 | 45,852.0 | 43,606.9 |
Appendix 5: consolidated statements of change in equity
| € millions | Common shares outstanding | Share capital | Additional paid-in capital | Retained earnings and net profit | Other comprehensive income | Treasury shares | Cumulative translation adjustments | Equity attributable to owners of the company | Non-controlling interests | Equity | ||||||||||
| AT 31.12.2019 | 558,117,205 | 111.6 | 3,130.2 | 20,681.0 | 5,595.8 | — | -99.2 | 29,419.3 | 6.7 | 29,426.0 | ||||||||||
| Consolidated net profit for the period | 3,563.4 | 3,563.4 | 4.2 | 3,567.6 | ||||||||||||||||
| Cash flow hedges | 105.6 | 105.6 | 0.2 | 105.8 | ||||||||||||||||
| Cumulative translation adjustments | -801.8 | -801.8 | -0.3 | -802.1 | ||||||||||||||||
| Hyperinflation | 11.9 | 11.9 | — | 11.9 | ||||||||||||||||
| Other comprehensive income that may be reclassified to profit and loss |
105.6 | -789.9 | -684.3 | -0.1 | -684.4 | |||||||||||||||
| Financial assets at fair value through other comprehensive income |
-1,228.8 | -1,228.8 | -1,228.8 | |||||||||||||||||
| Actuarial gains and losses | -168.1 | -168.1 | -168.1 | |||||||||||||||||
| Other comprehensive income that may not be reclassified to profit and loss |
-1,396.9 | — | -1,396.9 | — | -1,396.9 | |||||||||||||||
| Consolidated comprehensive income | 3,563.4 | -1,291.3 | -789.9 | 1,482.1 | 4.2 | 1,486.3 | ||||||||||||||
| Capital increase | 1,754,375 | 0.4 | 129.6 | -0.2 | — | — | 129.8 | — | 129.8 | |||||||||||
| Cancellation of Treasury shares | — | — | — | — | — | — | — | — | ||||||||||||
| Dividends paid (not paid on Treasury shares) | -2,172.6 | — | — | — | -2,172.6 | -4.9 | -2,177.5 | |||||||||||||
| Share-based payment | 129.7 | — | — | — | 129.7 | — | 129.7 | |||||||||||||
| Net changes in Treasury shares | — | — | — | — | — | — | — | — | ||||||||||||
| Changes in scope of consolidation | — | — | — | — | — | — | — | |||||||||||||
| Other movements | 4.8 | — | — | — | 4.8 | -0.1 | 4.7 | |||||||||||||
| At 31.12.2020 | 559,871,580 | 112.0 | 3,259.8 | 22,206.0 | 4,304.5 | — | -889.1 | 28,993.0 | 5.8 | 28,998.8 | ||||||||||
| Consolidated net profit for the period | 2,362.6 | 2,362.6 | 5.4 | 2,368.0 | ||||||||||||||||
| Cash flow hedges | -123.6 | -123.6 | -0.2 | -123.8 | ||||||||||||||||
| Cumulative translation adjustments | 266.8 | 266.8 | 0.2 | 267.0 | ||||||||||||||||
| Hyperinflation | 14.5 | 14.5 | 14.5 | |||||||||||||||||
| Other comprehensive income that may be reclassified to profit and loss |
-123.6 | 281.3 | 157.7 | — | 157.7 | |||||||||||||||
| Financial assets at fair value through other comprehensive income |
1,114.7 | 1,114.7 | 1,114.7 | |||||||||||||||||
| Actuarial gains and losses | 292.9 | 292.9 | 292.9 | |||||||||||||||||
| Other comprehensive income that may not be reclassified to profit and loss |
1,407.6 | — | 1,407.6 | — | 1,407.6 | |||||||||||||||
| Consolidated comprehensive income | 2,362.6 | 1,284.0 | — | 281.3 | 3,927.9 | 5.4 | 3,933.3 | |||||||||||||
| Capital increase | 800,168 | 0.2 | 5.8 | -0.2 | 5.8 | 5.8 | ||||||||||||||
| Cancellation of Treasury shares | — | — | ||||||||||||||||||
| Dividends paid (not paid on Treasury shares) | -2,264.4 | -2,264.4 | -4.7 | -2,269.1 | ||||||||||||||||
| Share-based payment | 75.9 | 75.9 | 75.9 | |||||||||||||||||
| Net changes in Treasury shares | -3,000,000 | -1,104.8 | -1,104.8 | -1,104.8 | ||||||||||||||||
| Changes in scope of consolidation | — | — | ||||||||||||||||||
| Other movements | -3.2 | -3.2 | 0.1 | -3.1 | ||||||||||||||||
| AT 30.06.2021 | 557,671,748 | 112.1 | 3,265.6 | 22,376.7 | 5,588.5 | -1,104.8 | -607.9 | 29,630.2 | 6.6 | 29,636.8 | ||||||||||
▌ CHANGES IN FIRST-HALF 2020
| € millions | Common shares
outstanding |
Share capital | Additional paid-in capital | Retained earnings and net profit |
Other
comprehensive income |
Treasury shares | Cumulative translation adjustments | Equity
attributable to owners of the company |
Non-
controlling interests |
Equity | ||||||||||
| At 31.12.2019 | 558,117,205 | 111.6 | 3,130.2 | 20,680.9 | 5,595.8 | — | -99.2 | 29,419.3 | 6.7 | 29,426.0 | ||||||||||
| Consolidated net profit for the period | 1,822.5 | 1,822.5 | 1.1 | 1,823.6 | ||||||||||||||||
| Cash flow hedges | 78.7 | 78.7 | 78.7 | |||||||||||||||||
| Cumulative translation adjustments | -276.8 | -276.8 | -276.8 | |||||||||||||||||
| Hyperinflation | 5.0 | 5.0 | 5.0 | |||||||||||||||||
| Other comprehensive income that may be reclassified to profit and loss |
78.7 | -271.8 | -193.1 | — | -193.1 | |||||||||||||||
| Financial assets at fair value through other comprehensive income |
125.7 | 125.7 | 125.7 | |||||||||||||||||
| Actuarial gains and losses | -119.3 | -119.3 | -119.3 | |||||||||||||||||
| Other comprehensive income that may not be reclassified to profit and loss |
6.4 | — | 6.4 | — | 6.4 | |||||||||||||||
| Consolidated comprehensive income | 1,822.5 | 85.1 | -271.8 | 1,635.8 | 1.1 | 1,636.9 | ||||||||||||||
| Capital increase | 1,180,975 | 0.2 | 28.0 | -0.2 | 28.1 | 28.1 | ||||||||||||||
| Cancellation of Treasury shares | — | — | ||||||||||||||||||
| Dividends paid (not paid on Treasury shares) | -2,166.5 | -2,166.5 | -4.9 | -2,171.3 | ||||||||||||||||
| Share-based payment | 67.3 | 67.3 | 67.3 | |||||||||||||||||
| Net changes in Treasury shares | — | — | ||||||||||||||||||
| Changes in scope of consolidation | — | 0.3 | 0.3 | |||||||||||||||||
| Other movements | -0.3 | -0.3 | -0.3 | |||||||||||||||||
| AT 30.06.2020 | 559,298,180 | 111.9 | 3,158.2 | 20,403.8 | 5,680.9 | — | -371.0 | 28,983.8 | 3.2 | 28,987.0 | ||||||||||
(1) As the Annual General Meeting to approve the financial statements as at 31 December 2019 was held on 30 June 2020, the dividends for financial year 2019 were not paid at 30 June 2020 and were presented on the balance sheet in “Other current liabilities”.
(2)
Appendix 6: compared consolidated statements of cash flows
| € millions | 1st half 2021 | 1st half 2020 | 2020 |
| Cash flows from operating activities | |||
| Net profit attributable to owners of the company | 2,362.6 | 1,822.5 | 3,563.4 |
| Non-controlling interests | 5.4 | 1.1 | 4.2 |
| Elimination of expenses and income with no impact on cash flows: | |||
| • depreciation, amortisation, provisions and non-current tax liabilities | 910.3 | 787.4 | 2,028.1 |
| • changes in deferred taxes | -28.3 | -16.3 | -10.1 |
| • share-based payment (including free shares) | 75.9 | 67.3 | 129.7 |
| • capital gains and losses on disposals of assets | 1.4 | 4.5 | 3.6 |
| Other non-cash transactions | 8.1 | 2.9 | 5.8 |
| Share of profit in associates net of dividends received | 0.6 | -0.7 | -0.6 |
| Gross cash flow | 3,336.1 | 2,668.6 | 5,724.1 |
| Changes in working capital | -675.1 | -889.2 | 729.2 |
| Net cash provided by operating activities (A) | 2,661.0 | 1,779.4 | 6,453.3 |
| Cash flows from investing activities | |||
| Purchases of property, plant and equipment and intangible assets | -523.1 | -504.8 | -972.4 |
| Disposals of property, plant and equipment and intangible assets | 12.5 | 18.6 | 26.6 |
| Changes in other financial assets (including investments in non-consolidated companies) | -23.9 | 6.6 | -66.5 |
| Effect of changes in the scope of consolidation | -161.3 | -1,316.5 | -1,626.8 |
| Net cash from investing activities (B) | -695.8 | -1,796.0 | -2,639.1 |
| Cash flows from financing activities | |||
| Dividends paid | -2,322.0 | -82.6 | -2,190.6 |
| Capital increase of the parent company | 5.8 | 28.1 | 129.7 |
| Capital increase of subsidiaries | — | — | — |
| Disposal (acquisition) of Treasury shares | -1,104.8 | — | — |
| Purchase of non-controlling interests | — | — | — |
| Issuance (repayment) of short-term loans | 26.5 | 1,509.3 | -74.8 |
| Issuance of long-term borrowings | — | — | — |
| Repayment of long-term borrowings | — | — | -3.6 |
| Repayment of lease debt | -200.9 | -219.7 | -451.8 |
| Net cash from financing activities (C) | -3,595.3 | 1,235.1 | -2,591.1 |
| Net effect of changes in exchange rates and fair value (D) | 48.5 | -62.8 | -103.2 |
| Change in cash and cash equivalents (A+B+C+D) | -1,581.6 | 1,155.7 | 1,119.9 |
| Cash and cash equivalents at beginning of the period (E) | 6,405.9 | 5,286.0 | 5,286.0 |
| CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (A+B+C+D+E) | 4,824.3 | 6,441.7 | 6,405.9 |
1 Like-for-like: based on comparable structures and identical exchange rates.
2 Sales achieved on our brands’ own websites + estimated sales achieved by our brands corresponding to sales through our retailers’ websites (non-audited data).
3 Diluted earnings per share, excluding non-recurring items, after non-controlling interests.
4 SAPMENA-SSA: South Asia Pacific, Middle East, North Africa and Sub-Saharan Africa
5 SAPMENA – SSA: South Asia Pacific, Middle East, North Africa and Sub-Saharan Africa
6 SAPMENA – SSA: South Asia Pacific, Middle East, North Africa and Sub-Saharan Africa
7 SAPMENA – SSA: South Asia Pacific, Middle East, North Africa and Sub-Saharan Africa
8 Non-allocated expenses = Central Group expenses, fundamental research expenses, stock options and free grant of shares expenses and miscellaneous items. As a % of total sales.
9 Net profit excluding non-recurring items, after non-controlling interests, excludes mostly capital gains and losses on disposals of long-term assets, impairment of assets, restructuring costs, tax effects and non-controlling interests.
10 Diluted net profit per share, excluding non-recurring items, after non-controlling interests.
11 Operating cash flow = Gross cash flow + changes in working capital – capital expenditure.
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Attachment
Artificial Intelligence
Global Health Exhibition Announces Opportunity for Healthcare Startups to secure over 100,000 SAR in Vision NextGen Competition Designed to Fast-Track Health Innovations
Healthcare innovators developing novel medical advancements via their own business invited to compete for a prize fund exceeding 100,000 Saudi Riyal (SAR) to further product development, to be awarded at Global Health Exhibition 2024 in Malham, Riyadh, Saudi Arabia, one of the world’s most highly-attended healthcare eventsShortlisted startup businesses will present live to an expert judging panel including Dr Mohammed Alhamali, Chief Innovation Officer at Seha Virtual Hospital, Saudi Arabia Ministry of HealthEmerging businesses competing at the event will also meet and interact with the world’s leading minds in healthcare transformation including healthcare AI innovatorsThere is still time to apply – startups may complete a short online application by Monday 16 September 2024MALHAM, Saudi Arabia and RIYADH, Saudi Arabia, Sept. 11, 2024 /PRNewswire/ — The organizers of the October 2024 Global Health Exhibition taking place in Malham, Riyadh, today announced a 100,000 Saudi Riyal prize for the winner of the October 2024 event’s Vision NextGen competition.
The competition, which seeks to support the development of novel medical products, systems and treatments across multiple healthcare sectors, is supported by leading young business publication Startups Magazine. It is open to emergent healthcare companies which have been in operation for less than five years and have fewer than 25 employees. The winning business’ prize can be utilised to further advance product development in the interests of patients.
Closely aligned with the Kingdom of Saudi Arabia’s healthcare objectives including crisis response and health security, technological and digital transformation, public health and disease prevention and health innovation, Vision NextGen judges anticipate high demand to join a shortlist of 30 companies from an anticipated longlist of over 150 businesses. Six finalists drawn from the shortlist will present to the competition’s expert judging panel live at the Exhibition on 23 October 2024. The judges include:
Reenita Das, Partner and SVP, Frost & SullivanAhmed Abdulwahab, Founder, CEO and Chief Innovation Officer, Next ArabiaPilar Fernandez Hermida, Founder and MD, i-ExpandKristina Podnar, Digital Policy Consultant, Native Trust ConsultingDr Mohammad Alhamali, Chairman of the National Innovation and Regulatory Sandbox, Chief Innovation Officer at Seha Virtual Hospital, Ministry of Health, Saudi Arabia”Healthcare transformation often starts with small, innovative ideas and the Vision NextGen competition is here to nurture those with the potential to significantly impact patient care,” said Reenita Das, Partner and SVP at Frost & Sullivan and Vision NextGen judge.
“We are looking for trailblazers who are tackling global healthcare challenges through novel therapeutics, digital health, virtual care delivery, or the automation of health services. Participants will not only have the chance to present their innovations to some of the world’s leading health experts but also benefit from the extensive networking and learning opportunities at the Global Health Exhibition.”
To apply, startups which meet the competition’s criteria have a final opportunity before 16 September 2024 to complete a short initial application online at: Vision NextGen – The Start-up Competition (globalhealthsaudi.com). Shortlisted companies will be notified ahead of the Exhibition and will be invited to compete for a finalist place on 21 October.
“Innovation in healthcare goes beyond just technology; it’s about understanding and addressing the deeper, often unspoken, needs of people. At Labayh, we’re committed to breaking down the barriers that prevent access to mental health care, ensuring that every individual feels supported and heard,” said Basim Albeladi, CEO of workplace mental health specialist Labayh. “Through initiatives like the Vision NextGen competition, we seek to empower those who are driving meaningful change in the healthcare landscape.”
Registration information alongside the newly-published event program for Global Health Exhibition 2024 can be found at the following link: Global Health Exhibition (globalhealthsaudi.com)
“Global Health Exhibition offers healthcare innovators and startups incredible opportunities to meet with major international and local investors and leaders in the healthcare sector,” said Rachel Sturgess, Group Director, Tahaluf, the event’s organizer.
“The Vision NextGen competition is seeking true change-makers who are actively addressing the most pressing challenges in global healthcare and bring a passion for transforming the lives of patients across a wide range of medical specialities.”
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Artificial Intelligence
Softeon Named Leader in SPARK MatrixTM for Warehouse Management System Market, Q3, 2024 by Quadrant Knowledge Solutions
Softeon, with its comprehensive technology for its Warehouse Management System, has received strong ratings across the parameters of technology excellence and customer impact.
RESTON, Va., Sept. 11, 2024 /PRNewswire/ — Quadrant Knowledge Solutions announced today that it has named Softeon, the only tier-1 Warehouse Management System (WMS) provider focused on optimizing warehouse and fulfillment performance to increase operational efficiency and throughput, as a Q3, 2024 leader in the SPARK MatrixTM analysis of the global Warehouse Management System (WMS) market and its vendors.
The Quadrant Knowledge Solutions SPARK MatrixTM: Warehouse Management System (WMS) Q3, 2024, includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading Warehouse Management System (WMS) vendors in the form of its SPARK MatrixTM. It provides users with strategic information to evaluate vendor capabilities, competitive differentiation, and market position.
“Softeon has solidified its position as a leading provider of cloud-based Warehouse Management System (WMS) solutions, Warehouse Execution Systems (WES), and Distributed Order Management (DOM) by catering effectively to both B2B and B2C clients,” says Pruthvi Raj, Senior Analyst at Quadrant Knowledge Solutions. “With advanced functionalities such as real-time inventory visibility, resource management, advanced automation capabilities, and seamless integration with other supply chain systems, Softeon empowers large enterprises to achieve operational efficiency and optimize resources.”
Pruthvi Raj adds, “Softeon’s year-on-year revenue growth, strong enterprise segmentation, a compelling vision & roadmap, and industry-specific capabilities, particularly in 3PL, healthcare, and life sciences, positions the company as a leader in the SPARK Matrix™: Warehouse Management System (WMS), Q3, 2024.”
“Unlike our competitors, Softeon is uniquely focused on a comprehensive fulfillment solution suite, designed to drive the most value and quickest ROI to our customers, many of them highly demanding 3PLs,” says Jim Hoefflin, CEO, Softeon. “Our philosophy is rooted in customer centricity and manifests in products, tools, and processes that create the most ideal workflows for warehouse operations. Simply put, we relentlessly micro-tune the application to capture the most operational efficiency.”
Quadrant Knowledge Solutions defines a Warehouse Management System (WMS) as “a software suite that helps businesses to visualize, optimize, and manage end-to-end warehouse operations such as slotting, receiving, put-away, inventory management, picking, packing, and shipping. WMS also offers resource (labor, machine, material, and devices) management capabilities for effective order allocation and task optimization. Additionally, it leverages emerging technologies, such as AI/ML, analytics, digital twin, IoT, voice recognition, robotic process automation, and edge computing, to develop strategies for transforming and automating warehouse and distribution/fulfilment center activities.”
As shown by their position as a leader in the SPARK MatrixTM for the Warehouse Management System market, Q3, 2024, Softeon’s technology empowers businesses to solve the complexities and challenges of today’s warehouses.
To unlock the full potential of your supply chain with Softeon’s innovative solutions, contact them today.
Additional Resources:
Complimentary download – SPARK Matrix: Warehouse Management System (WMS), Q3 2024
For more available research, visit: https://quadrant-solutions.com/market-research/
About Softeon
Softeon is a WMS provider focused exclusively on optimizing warehouse and fullfilment operations. For over two decades now, we have been helping our customers succeed. Investing in R&D enables us to develop software to solve the most complex warehouse challenges. Softeon is laser-focused on customer results, with a 100% track record of deployment success. We believe warehouse leaders shouldn’t have to settle for a one-size-fits-all approach to technology. For more information, please visit www.Softeon.com.
Media Contacts:
Mike CatalinoDirector of Public Relations and Analyst [email protected]
About Quadrant Knowledge Solutions
Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients achieve business transformation goals with Strategic Business and Growth advisory services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client’s business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments.
Media Contacts:Shraddha Roy PR & Media Relations Quadrant Knowledge Solutions Regus Business Center 35 Village Road, Suite 100, Middleton Massachusetts 01949 United States Email: [email protected] Source: https://qksgroup.com/resources/newsroom/softeon-named-leader-in-spark-matrix-for-warehouse-management-system-market-q3-2024-by-quadrant-knowledge-solutions?id=765 Connect with us on LinkedIn- https://www.linkedin.com/company/qksgroup/
Logo: https://mma.prnewswire.com/media/746706/1470558/Quadrant_Knowledge_Solutions_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/softeon-named-leader-in-spark-matrixtm-for-warehouse-management-system-market-q3-2024-by-quadrant-knowledge-solutions-302245354.html
Artificial Intelligence
Vantiva Unveils ONYX, its latest Smart Media Device with Advanced AI Capabilities at IBC 2024
This high-end Wi-Fi 6 enabled set-top box opens door for range of AI uses cases including event detection within video and image enhancement
PARIS, Sept. 11, 2024 /PRNewswire/ — Vantiva (Euronext Paris: VANTI), a global technology leader enabling NSPs to connect consumers worldwide, today introduced the ONYX 4K Ultra HD Android TV set-top box, the latest AI-enabled platform to be launched by Vantiva. Equipped with an extremely powerful 40K quad-core processor and featuring a 4 TOPS NPU, the ONYX STB is one of the first to incorporate innovative AI capabilities that open the door to numerous next-generation use cases including identifying and locating specific events in video (event detection within video) and image enhancement features such as sharpening (super resolution) or decreasing grain (advanced denoising). The ONYX will be demonstrated at IBC 2024 in Hall 1, Level 2, Balcony Suite 1.BS21, Rai, Amsterdam, Sept. 13 – 16.
“The expansion of AI technology into video delivery is driving further innovations and is set to completely transform the home entertainment sector,” said Leopold Diouf, Senior Vice President of the Product Division at Vantiva. “As the central hub of the home entertainment ecosystem, intelligent set-top boxes, like ONYX, play a crucial role in this AI revolution, enabling the integration of new added value services, such as predictive maintenance and enhanced security for NSPs and more personalized content for consumers. Furthermore, as ONYX supports HDR10, HDR10+ and Dolby® Vision formats, end-users will be able to enjoy a more immersive video experience.”
With the latest, most efficient and highest-performing dual-band Wi-Fi 6 technology, the ONYX allows for video streaming over Wi-Fi with support for IPTV and Over-the-Top (OTT) services such as Netflix, Hulu and Disney Plus. This allows more flexibility and mobility in the placement of the STB. The ONYX is running on Android TV 14 software and is ready for RDK as the bootloader can support both standards. The device is equipped with a quad-core processor, a powerful NPU, Bluetooth 5.2 LE technology and supports the latest Video Codecs H.266/VVC. This makes it a future-proof platform for enhanced services and data analytics features.
The ONYX will have the option for Far Field Voice (FFV) control with up to four microphones. This enables the end-user to have a true ‘lie-back’ experience where they will only need their voice to search or control the volume without having to find and press a button on the remote control. FFV will effectively incorporate smart assistant features into the STB and complement AI functionality as Large Language Models continue to evolve. Vantiva has designed this platform with flexibility in mind so it can be configured to suit the requirements of operators.
The ONYX casing is designed with recycled plastics and uses a USB-C power connector to maximize the re-use of power supply units. Additionally, the Bluetooth 5.2 LE technology enhances audio quality and manages power consumption more effectively, resulting in longer battery life for Bluetooth devices.
PDF: https://mma.prnewswire.com/media/2502902/Vantiva_EN.pdfLogo: https://mma.prnewswire.com/media/2388773/Vantiva_Logo.jpg
Contacts:
Vantiva Press [email protected]
Thatcher+Co. for Vantiva [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/vantiva-unveils-onyx-its-latest-smart-media-device-with-advanced-ai-capabilities-at-ibc-2024-302245147.html
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