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2022 Universal Registration Document
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TABLE OF CONTENT
- 1
- Prospects:...Prospects: Jean-Paul Agon, Chairman of the Board of Directors of L’OréalProspects: Jean-Paul Agon, Chairman of the Board of Directors of L’Oréal - Page 22
- Prospects: Nicolas...Prospects: Nicolas Hieronimus, Chief Executive Officer of L’OréalProspects: Nicolas Hieronimus, Chief Executive Officer of L’Oréal - Page 33
- Chapter 1...Chapter 1 : Presentation of the Group – Integrated ReportChapter 1 : Presentation of the Group – Integrated Report - Page 5
page 5 TO 52
- 1.1. The...61.1. The L’Oréal Group: the fundamentals1.1. The L’Oréal Group: the fundamentals - page6
- 1.2. L’Oréal,...141.2. L’Oréal, a value-creating model1.2. L’Oréal, a value-creating model - page14
- 1.3. 2022...361.3. 2022 Financial Results and Corporate Social Responsibility commitments1.3. 2022 Financial Results and Corporate Social Responsibility commitments - page36
- 1.4. A...501.4. A tailored, agile and responsive organisation1.4. A tailored, agile and responsive organisation - page50
- 1.5. Internal...511.5. Internal Control and risk management system1.5. Internal Control and risk management system - page51
- Chapter 2...Chapter 2 : Corporate governanceChapter 2 : Corporate governance - Page 53
page 53 TO 116
- 2.1. Framework...542.1. Framework for the implementation of corporate governance principles2.1. Framework for the implementation of corporate governance principles - page54
- 2.2. Composition...572.2. Composition of the Board at 31 December 20222.2. Composition of the Board at 31 December 2022 - page57
- 2.3. Organisation...722.3. Organisation and modus operandi of the Board of Directors2.3. Organisation and modus operandi of the Board of Directors - page72
- 2.4. Remuneration...912.4. Remuneration of directors and corporate officers2.4. Remuneration of directors and corporate officers - page91
- 2.5. Summary...1142.5. Summary table of the recommendations of the AFEP‑MEDEF Code which have not been applied2.5. Summary table of the recommendations of the AFEP‑MEDEF Code which have not been applied - page114
- 2.6. Summary...1152.6. Summary statement of trading by directors and corporate officers in L’Oréal shares in 20222.6. Summary statement of trading by directors and corporate officers in L’Oréal shares in 2022 - page115
- 2.7. Statutory...1152.7. Statutory Auditors’ Special Report on regulated agreements2.7. Statutory Auditors’ Special Report on regulated agreements - page115
- Chapter 3...Chapter 3 : Risk factors and risk managementChapter 3 : Risk factors and risk management - Page 117
page 117 TO 150
- 3.1. Definition...1183.1. Definition and objectives of Internal Control3.1. Definition and objectives of Internal Control - page118
- 3.2. Components...1193.2. Components of the Internal Control and Risk Management system3.2. Components of the Internal Control and Risk Management system - page119
- 3.3. Preparing...1243.3. Preparing and processing accounting and financial information3.3. Preparing and processing accounting and financial information - page124
- 3.4. Vigilance...1263.4. Vigilance Plan3.4. Vigilance Plan - page126
- 3.5. Risk...1413.5. Risk factors and risk management3.5. Risk factors and risk management - page141
- Chapter 4...Chapter 4 : Social, environmental and societal responsibilityChapter 4 : Social, environmental and societal responsibility - Page 151
page 151 TO 252
- 4.2. Main...1604.2. Main non-financial risks4.2. Main non-financial risks - page160
- 4.3. Policies,...1624.3. Policies, performance indicators and results4.3. Policies, performance indicators and results - page162
- 4.4. L’Oréal...2314.4. L’Oréal for the Future: 2022 results4.4. L’Oréal for the Future: 2022 results - page231
- 4.5. Methodological...2324.5. Methodological notes4.5. Methodological notes - page232
- 4.6....2394.6. Cross-reference tables, including NFIS and GHG balance4.6. Cross-reference tables, including NFIS and GHG balance - page239
- 4.7. Statutory...2444.7. Statutory Auditor's Reports4.7. Statutory Auditor's Reports - page244
- Chapter 5...Chapter 5 : 2022 Consolidated Financial StatementsChapter 5 : 2022 Consolidated Financial Statements - Page 253
page 253 TO 316
- 5.1. Compared...2545.1. Compared Consolidated Income Statements5.1. Compared Consolidated Income Statements - page254
- 5.2. Consolidated...2555.2. Consolidated Statement of Comprehensive Income5.2. Consolidated Statement of Comprehensive Income - page255
- 5.3. Compared...2565.3. Compared Consolidated Balance Sheets5.3. Compared Consolidated Balance Sheets - page256
- 5.4. Consolidated...2575.4. Consolidated Statements of Changes in Equity5.4. Consolidated Statements of Changes in Equity - page257
- 5.5. Compared...2595.5. Compared Consolidated Statements of Cash Flows5.5. Compared Consolidated Statements of Cash Flows - page259
- 5.6. Notes...2605.6. Notes to the Consolidated Financial Statements5.6. Notes to the Consolidated Financial Statements - page260
- 5.7. Main...3105.7. Main consolidated companies at 31 December 20225.7. Main consolidated companies at 31 December 2022 - page310
- 5.8. Statutory...3135.8. Statutory Auditor's Report on the Consolidated Financial Statements5.8. Statutory Auditor's Report on the Consolidated Financial Statements - page313
- Chapter 6...Chapter 6 : Parent company financial statementsChapter 6 : Parent company financial statements - Page 317
page 317 TO 344
- 6.1. Compared...3186.1. Compared income statements6.1. Compared income statements - page318
- 6.2. Compared...3196.2. Compared balance sheets6.2. Compared balance sheets - page319
- 6.3. Changes...3206.3. Changes in shareholders’ equity6.3. Changes in shareholders’ equity - page320
- 6.4. Statements...3216.4. Statements of cash flows6.4. Statements of cash flows - page321
- 6.5. Notes...3226.5. Notes to the financial statements of L’Oréal S.A.6.5. Notes to the financial statements of L’Oréal S.A. - page322
- 6.6. Other...3376.6. Other information relating to the financial statements of L’Oréal S.A.6.6. Other information relating to the financial statements of L’Oréal S.A. - page337
- 6.7....3386.7. Five-year financial summary6.7. Five-year financial summary - page338
- 6.8. Equity...3396.8. Equity investments (main changes including shareholding threshold changes)6.8. Equity investments (main changes including shareholding threshold changes) - page339
- 6.9. Statutory...3406.9. Statutory Auditor's Report on the Financial Statements6.9. Statutory Auditor's Report on the Financial Statements - page340
- Chapter 7...Chapter 7 : Share capital and stock market informationChapter 7 : Share capital and stock market information - Page 345
page 345 TO 364
- 7.1. Information...3467.1. Information relating to the Company7.1. Information relating to the Company - page346
- 7.2. Information...3487.2. Information concerning the share capital7.2. Information concerning the share capital - page348
- 7.3. Shareholder...3507.3. Shareholder structure7.3. Shareholder structure - page350
- 7.4....3537.4. Long-term incentive plans7.4. Long-term incentive plans - page353
- 7.5. The...3587.5. The L’Oréal share/the share market7.5. The L’Oréal share/the share market - page358
- 7.6. Information...3637.6. Information and shareholder dialogue policy7.6. Information and shareholder dialogue policy - page363
- Chapter 8...Chapter 8 : Annual General MeetingChapter 8 : Annual General Meeting - Page 365
page 365 TO 386
- 8.1. Draft...3668.1. Draft resolutions and Report of the Board of Directors to the Ordinary and Extraordinary General Meeting to be held on Friday 21 April 20238.1. Draft resolutions and Report of the Board of Directors to the Ordinary and Extraordinary General Meeting to be held on Friday 21 April 2023 - page366
- 8.2. Statutory...3858.2. Statutory Auditor's Report8.2. Statutory Auditor's Report - page385
- 9.1. Statutory...3889.1. Statutory Auditors9.1. Statutory Auditors - page388
- 9.2. Historical...3889.2. Historical financial information included by reference9.2. Historical financial information included by reference - page388
- 9.3. Declaration...3889.3. Declaration by the person responsible for the Universal Registration Document and the Annual Financial Report9.3. Declaration by the person responsible for the Universal Registration Document and the Annual Financial Report - page388
- 9.4....3899.4. Cross-reference table with the Universal Registration Document9.4. Cross-reference table with the Universal Registration Document - page389
- 9.5. Annual...3919.5. Annual Financial Report cross-reference table9.5. Annual Financial Report cross-reference table - page391
- 9.6....3919.6. Cross-reference table with the AMF tables on the remuneration of directors and corporate officers9.6. Cross-reference table with the AMF tables on the remuneration of directors and corporate officers - page391
- 9.7. Management...3929.7. Management Report cross-reference table9.7. Management Report cross-reference table - page392
Social:
| THEMATIC | INDICATORS |
|---|---|
| Staff | Statutory staff and breakdown by type of contract, by zone |
| Number of employees with disabilities | |
| WPS to be paid | |
| Remuneration | Minimum wage |
| Number of permanent contracts with a fixed salary below the living wage | |
| Evolution | Number of recruitments (Unfixed term-contracts) |
| Number of departures, including number of redundancies | |
| Absenteeism | Overall absenteeism rate and illness (%) |
| Formation | Number of hours of training |
| Percentage of Group employees who received at least one training during the year | |
| Share of employees with access to the online module and completed the mandatory ethics course | |
| Share & Care | Percentage of the Group's permanent employees who can benefit from financial protection in the event of an accident in life, such as death or total permanent disability |
| Percentage of the Group's permanent employees who can benefit from health coverage aligned with the best practices of their country of residence | |
| Collective agreement | Percentage of Group employees covered by a collective agreement (national, branch or company) |
| Percentage of Group employees work in countries where representative bodies are in place | |
| Number of collective company agreements in force on 31 December | |
| Diversity | Percentage of brands led by women |
| Number of entities that have received the GEEIS / EDGE label |
Societal:
| THEMATIC | INDICATORS |
|---|---|
| R&I / Water | Percentage reduction in water consumption related to consumer use of products compared to 2017 |
| THEMATICPercentage of ingredients in bio-based formulas, derived from abundant minerals or circular processes | |
| R&I / Resources | R&I / ResourcesINDICATORSPercentage of Raw Materials respecting the principles of Green Chemistry |
| THEMATICPercentage of biodegradability of formulas | |
| Transportation of FPs | Transportation of FPsINDICATORSEmissions de CO2 by FP: 2022 value (tCO2 eq) and evolution compared to baseline 2016 |
| THEMATICEmissions de CO2 equivalent per tonne of goods transported and per km travelled (tCO2 eq/km) | |
| Purchasing & Sourcing / Greenhouse gas emissions | Purchasing & Sourcing / Greenhouse gas emissionsINDICATORS Percentage of CDP Climate participation for strategic direct suppliers |
| THEMATIC Percentage of CDP Climate participation for strategic indirect suppliers |
|
| THEMATIC Percentage of CDP Climate participation for total strategic suppliers |
|
| Purchasing & Sourcing / Social audits | Purchasing & Sourcing / Social auditsINDICATORSNumber of sites audited in 2022 |
| THEMATICNumber of social audits of suppliers carried out in 2022 | |
| THEMATIC Number of sites audited in "remote audit" in 2022 |
|
| THEMATICNumber of sites audited in "remote audit" in 2022 | |
| THEMATICDistribution of non-conformities found during social audits of suppliers by audited chapter | |
| THEMATICPercentage of suppliers who improved their social audit score in 2022 | |
| THEMATIC
Number of sites audited cumulated since 2019 Number of cumulative social audits 2022 since 2019 |
|
| Purchasing & Sourcing / Supplier Evaluation | Purchasing & Sourcing / Supplier EvaluationINDICATORSPercentage of strategic suppliers assessed on the basis of their environmental and societal performance |
| Achats & Sourcing / Water | Achats & Sourcing / WaterINDICATORS Percentage of CDP Water participation for direct strategic suppliers |
| THEMATIC Percentage of CDP Water participation for indirect strategic suppliers |
|
| THEMATIC Percentage of CDP Water participation for total strategic suppliers |
|
| Purchasing & Sourcing / Biodiversity | Purchasing & Sourcing / BiodiversityINDICATORS
Percentage of renewable raw materials from sustainable sources Percentage of botanical species with biodiversity issues |
| THEMATIC
Percentage of palm oil and derivatives certified: Segregated + Mass Balance ° Book & Claim Percentage of volumes of palm and palm kernel products traced to refineries, mills, plantations. |
|
| THEMATICPercentage of bio-based packaging materials that are traceable and sustainably sourced. | |
| Corporate Responsibility & Foundation / Ecodesign | Corporate Responsibility & Foundation / EcodesignINDICATORSPercentage of Eco-designed products |
| Corporate Responsibility & Foundation / PIL | Corporate Responsibility & Foundation / PILINDICATORS% of rinse-off products with an environmental and social impact calculation |
| Corporate Responsibility & Foundation / Women's Fund | Corporate Responsibility & Foundation / Women's FundINDICATORSNumber of structures and beneficiaries supported under the Women's Fund |
| THEMATICAmount invested in the fund since its inception | |
| Corporate Responsibility & Foundation / BFBL | Corporate Responsibility & Foundation / BFBLINDICATORS
Number of people from troubled communities who were able to access employment Number of people in very precarious situations trained in beauty professions |
| THEMATIC
Percentage of plastic packaging of recycled or bio-based origin Percentage reduction in the amount of packaging used for products compared to 2019 |
