L'Occitane International S.A. - Stock Analyst Research

Target Price*HKD 25.89
Recommendation BUY
Market Cap*27.88B
Publication Date31 Oct 2022

*At the time of publication

L'OCCITANE (00973.HK) FY2022 純利創紀錄、經營溢利率上市以來新高

公司簡介
L’OCCITANE(歐舒丹)主要從事製造及零售含豐富天然及有機成份美容及保健產品,
旗下多個品牌包括 L’OCCITANE en Provence、Melvita、Erborian、L’OCCITANE au
Brésil、LimeLife by Alcone、ELEMIS、Sol de Janeiro 及 Grown Alchemist。截至
2022 年 3 月底止,公司在 90 個國家的零售地點總數為 3,068 個(按年減少 20 個或
0.6%)。截至 2022 年 6 月底止,自營零售店總數為 1,375 間,由年初至今,淨關閉
115 間。
在 FY2022,公司進一步關閉表現欠佳的店舖,包括在美國關閉 21 間店舖。而 1,523
間自營店中,按品牌劃分的數目及與 FY2021 相比的變動如下:L’Occitane en
Provence(1,354 間;-35)、L’Occitane au Brésil(65 間;+1)、Melvita(39 間;-
11)、Erborian(14 間;-1)及 ELEMIS(18 間;+13)。非自營店舖數量增加 13 間或
0.8%。

About the author

Eric Li
Analyst
Research

李浩然先生(Eric Li) 高級分析師 現任現為輝立証券持牌高級分析師,曾任職股票基金、家族辦公室及證券公司等,擁有多年的證券研究部門從業及投資經驗,並先後於香港最暢銷的財經媒體撰寫投資專欄。畢業於香港理工大學電子計算系。 Eric is currently a licensed research analyst at Phillip Securities. Prior to joining Phillip Securities, he has years of equity research and investment experiences in asset management company, family office and securities company. Meanwhile, he has written investment columns in Hong Kong`s best-selling financial media for years. He holds Bachelor of Arts in Computing from The Hong Kong Polytechnic University.

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