Operator

Welcome to the conference call regarding L'Oréal S.A. at 31st March 2026. The conference is about to begin. I'll now hand over to Eva Quiroga. Ms. Quiroga, please go ahead.

Eva Quiroga-Thiele
Head of Investor Relations

Thank you, Sabrina, and good evening to you all. Thank you for joining us on this call for our first quarter 2026 sales. As always, I'm here with Nicolas Hieronimus, our CEO.

Nicolas Hieronimus
CEO & Director

Good afternoon.

Eva Quiroga-Thiele
Head of Investor Relations

Christophe Babule, our CFO.

Christophe Babule
Executive VP & CFO

Hello. Good afternoon.

Eva Quiroga-Thiele
Head of Investor Relations

And Laurent Schmitt, our Head of Corporate Finance and Financial Communications.

Laurent Schmitt
President

Good afternoon.

Eva Quiroga-Thiele
Head of Investor Relations

Nicolas will make some brief opening remarks, and we will then go straight to Q&A. Over to you, Nicolas.

Nicolas Hieronimus
CEO & Director

Okay. Thank you, Eva. So good evening to you all. As you could see in our numbers, we're off to a good start. Our like-for-like growth adjusted of all IT transformation impact between last year and this year was at plus 6.7%, well ahead of the global beauty market, which we estimate to be close