Financial performance

In 2022, L’Oréal achieved strong sales growth, with another year of outperformance in all Divisions and Zones thanks to its innovation leadership, highly desirable brands, operational agility and the tremendous commitment of its teams.

Sales

  • €38.26 Bn sales in 2022
  • +18.5% reported growth
  • +10.9% like-for-like growth

Breakdown of 2022 sales (as %)

Divisions

38.3% Luxe
36.6% Consumer Products
13.4% Dermatological Beauty
11.7% Professional Products

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Global brands

Geographic Zones

29.9% Europe
29.6% North Asia
26.6% North America
7.7% SAPMENA - SSA
6.2% Latin America

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L’Oréal around the world

Business Segments

40.1% Skincare and sun protection
20.2% Makeup
15.0% Haircare
11.9% Fragrances
8.8% Hair colouring
4.0% Other

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Ecommerce

  • €10.8 Bn sales in e-commerce
  • 28% of consolidated sales in e-commerce
  • +8.9% growth in e-commerce sales

Consolidated sales

(in billions of euros)

Year Value
2013 22.12
2014 22.53
2015 25.26
2016 25.84
2017 26.02
2018 26.94
2019 29.87
2020 27.99
2021 32.28
2022 38.26
  • +18.5% growth in 2022

Profits

  • €7.45 Bn operating profit

Operating profit

(in millions of euros)

Year Value
2013 3,760
2014 3,891
2015 4,388
2016 4,540
2017 4,676
2018 4,922
2019 5,547
2020 5,209
2021 6,160
2022 7,456
  • +21.0% increase in operating profit in 2022

Strong improvement in operating margin
to 19.5% of sales

(in %)

Year Value
2018 18.3
2019 18.6
2020 18.6
2021 19.1
2022 19.5
  • 19.5% Operating margin of sales

Net profit excluding
nonrecurring items after noncontrolling interests

(in millions of euros)

Year Value
2013 3,032
2014 3,125
2015 3,490
2016 3,647
2017 3,749
2018 3,988
2019 4,356
2020 4,099
2021 4,938
2022 6,054
  • +22.6% growth in net profit excluding non-recurring items after non-controlling interests

Earnings per share

(in euros)

Year Value
2013 4.99
2014 5.34
2015 6.18
2016 6.46
2017 6.65
2018 7.08
2019 7.74
2020 7.30
2021 8.82
2022 11.26
  • +27.6% growth in earnings per share in 2022

Balanced operating profitability

 

Profitability by Division

(as a % of Division sales)

Divisions Value
Professional Products 21.3%
Consumer Products 19.8%
Luxe 22.9%
Dermatological Beauty 25.4%
  • 21.9% Total for Divisions, before non-allocated

A solid financial situation
at 31 December 2022

  • €3,033 m net debt
  • Aa1 Moody’s (March 2022)
    Long-term rating
  • PRIME-1 Moody’s (March 2022)
    Short-term rating
  • AA Standard & Poor’s (September 2022)
    Long-term rating
  • A1+ Standard & Poor’s (September 2022)
    Short-term rating
  • 3 billion euros In 2022, L'Oréal successfully priced its inaugural public bond offering, including a sustainability-linked tranche, for an aggregate nominal value of 3 billion euros.

Capital expenditure:
3.5% of sales
 

A dynamic shareholder return policy

Years Dividend per share (in euros) Preferential dividend (in euros)
2022 6.00 6.60
2021 4.80 5.28
2020 4.00 4.40
2019 3.85 4.23
2018 3.85 4.23
2017 3.55 3.90
2016 3.30 3.63
2015 3.10 3.41
2014 2.70 2.97
2013 2.50 2.75
  • +25% dividend increase in 2022
  • €6.00 preferential dividend +10% (i.e. €6.60) for shareholders holding registered shares

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Payout ratio

(as % of profit)

Year Value
2013 48.7%
2014 50.6%
2015 50.2%
2016 51.1%
2017 53.4%
2018 54.4%
2019 49.7%
2020 54.8%
2021 54.4%
2022 53.3%
  • 53.3% pay-out ratio as a % of profit
  • €333.60 share price at 31 December 2022
  • €178.5 Bn market capitalisation

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