L’Oréal S.A. is a French company, with its registered office in France. It performs a sales activity that is specific to France.
At the same time, L’Oréal S.A. acts as a holding company and provides strategic coordination on the one hand and scientific, industrial and marketing coordination for the L’Oréal Group throughout the world on the other.
The subsidiaries operate the Group’s business activities in the countries or regions in which they are located, on the domestic or the export markets. To do so, they define the development strategy specific to their market(s), make the most suitable choices in terms of consumer targets and distribution channels, and manufacture, directly or indirectly, and market the brands they decide to sell on their market(s).
Almost all of the subsidiaries are owned by L’Oréal S.A. which has a holding or control percentage equal or close to 100%.
The financial statements set out in this chapter present the results of the L’Oréal Group as a whole, including all subsidiaries.
The Statutory Auditors’ Report on the consolidated financial statements has been included at the end of this chapter.
| € millions | Notes | 2022 | 2021 | 2020 |
|---|---|---|---|---|
| Net sales | Net salesNotes3.1 | Net sales202238,260.6 | Net sales202132,287.6 | Net sales202027,992.1 |
| Cost of sales | Cost of sales Notes
|
Cost of sales 2022-10,577.4 |
Cost of sales 2021-8,433.3 |
Cost of sales 2020-7,532.3 |
| Gross profit | Gross profitNotes
|
Gross profit202227,683.3 | Gross profit202123,854.3 | Gross profit202020,459.8 |
| Research & Innovation expenses | Research & Innovation expenses Notes
|
Research & Innovation expenses 2022-1,138.6 |
Research & Innovation expenses 2021-1,028.7 |
Research & Innovation expenses 2020-964.4 |
| Advertising and promotion expenses | Advertising and promotion expenses Notes
|
Advertising and promotion expenses 2022-12,059.0 |
Advertising and promotion expenses 2021-10,591.0 |
Advertising and promotion expenses 2020-8,647.9 |
| Selling, general and administrative expenses | Selling, general and administrative expenses Notes
|
Selling, general and administrative expenses 2022-7,028.8 |
Selling, general and administrative expenses 2021-6,074.2 |
Selling, general and administrative expenses 2020-5,638.5 |
| Operating profit | Operating profitNotes3.1 | Operating profit20227,456.9 | Operating profit20216,160.3 | Operating profit20205,209.0 |
| Other income and expenses | Other income and expenses Notes4 |
Other income and expenses 2022-241.5 |
Other income and expenses 2021-432.0 |
Other income and expenses 2020-709.0 |
| Operational profit | Operational profitNotes
|
Operational profit20227,215.4 | Operational profit20215,728.3 | Operational profit20204,500.0 |
| Finance costs on gross debt | Finance costs on gross debt Notes
|
Finance costs on gross debt 2022-70.4 |
Finance costs on gross debt 2021-38.0 |
Finance costs on gross debt 2020-79.2 |
| Finance income on cash and cash equivalents | Finance income on cash and cash equivalents Notes
|
Finance income on cash and cash equivalents 202269.8 |
Finance income on cash and cash equivalents 202118.5 |
Finance income on cash and cash equivalents 202019.8 |
| Finance costs, net | Finance costs, netNotes
|
Finance costs, net2022-0.6 | Finance costs, net2021-19.4 | Finance costs, net2020-59.4 |
| Other financial income and expenses | Other financial income and expenses Notes9.4 |
Other financial income and expenses 2022-72.3 |
Other financial income and expenses 2021-40.2 |
Other financial income and expenses 2020-36.5 |
| Sanofi dividends | Sanofi dividends Notes
|
Sanofi dividends 2022468.2 |
Sanofi dividends 2021378.3 |
Sanofi dividends 2020372.4 |
| Profit before tax and associates | Profit before tax and associatesNotes
|
Profit before tax and associates20227,610.6 | Profit before tax and associates20216,046.9 | Profit before tax and associates20204,776.5 |
| Income tax | Income tax Notes6 |
Income tax 2022-1,899.4 |
Income tax 2021-1,445.4 |
Income tax 2020-1,209.8 |
| Share of profit in associates | Share of profit in associates Notes
|
Share of profit in associates 20221.4 |
Share of profit in associates 20210.6 |
Share of profit in associates 20200.9 |
| Net profit | Net profitNotes
|
Net profit20225,712.6 | Net profit20214,602.2 | Net profit20203,567.6 |
| Attributable to: | Attributable to: Notes
|
Attributable to: 2022
|
Attributable to: 2021
|
Attributable to: 2020
|
| • owners of the company | • owners of the company Notes
|
• owners of the company 20225,706.6 |
• owners of the company 20214,597.1 |
• owners of the company 20203,563.4 |
| • non-controlling interests | • non-controlling interests Notes
|
• non-controlling interests 20226.0 |
• non-controlling interests 20215.1 |
• non-controlling interests 20204.2 |
| Earnings per share attributable to owners of the company (euros) | Earnings per share attributable to owners of the company (euros)Notes
|
Earnings per share attributable to owners of the company (euros)202210.65 |
Earnings per share attributable to owners of the company (euros)20218.24 |
Earnings per share attributable to owners of the company (euros)20206.37 |
| Diluted earnings per share attributable to owners of the company (euros) | Diluted earnings per share attributable to owners of the company (euros)Notes
|
Diluted earnings per share attributable to owners of the company (euros)202210.61 |
Diluted earnings per share attributable to owners of the company (euros)20218.21 |
Diluted earnings per share attributable to owners of the company (euros)20206.34 |
| Earnings per share attributable to owners of the company, excluding non-recurring items (euros) | Earnings per share attributable to owners of the company, excluding non-recurring items (euros) Notes11.4 |
Earnings per share attributable to owners of the company, excluding non-recurring items (euros) 202211.30 |
Earnings per share attributable to owners of the company, excluding non-recurring items (euros) 20218.86 |
Earnings per share attributable to owners of the company, excluding non-recurring items (euros) 20207.33 |
|
Diluted earnings per share attributable to owners of the company, excluding non‑recurring items (euros) |
Diluted earnings per share attributable to owners of the company, excluding non‑recurring items (euros)Notes11.4 |
Diluted earnings per share attributable to owners of the company, excluding non‑recurring items (euros)202211.26 |
Diluted earnings per share attributable to owners of the company, excluding non‑recurring items (euros)20218.82 |
Diluted earnings per share attributable to owners of the company, excluding non‑recurring items (euros)20207.30 |
