2023 universal registration document

2. Corporate governance

22.4.2.4. Remuneration ratios and annual changes in L’Oréal’s remuneration, ratios and performance over five yearss
  2018 2019 2020 2021 2022 2023

Remuneration of the CEO,Nicolas Hieronimus (€)

Remuneration of the CEO,Nicolas Hieronimus (€)

2018Not applicable

Remuneration of the CEO,Nicolas Hieronimus (€)

2019

7,768,780The remuneration of Mr Nicolas Hieronimus, Chief Executive Officer from 1 May 2021, comprises a fixed remuneration component expressed on an annual basis and a performance share award. For the record, no annual variable remuneration was paid to Mr Nicolas Hieronimus in 2021, as his position of Corporate Officer took effect on 1 May 2021. 

Remuneration of the CEO,Nicolas Hieronimus (€)

2020

10,395,600

Remuneration of the CEO,Nicolas Hieronimus (€)

2021

10,583,320The annual remuneration of Mr Nicolas Hieronimus reported consists of fixed compensation, variable compensation paid in April  year Y for financial year Y-1 (expressed on an annual basis for 2022), and a performance share award.

Change/N-1

Change/N-1

2018

Not disclosed

Change/N-1

2019

 

Change/N-1

2020

+1,81 %

L’Oréal company average ratio

L’Oréal company average ratio

2018

77

L’Oréal company average ratio

2019

99 

L’Oréal company average ratio

2020

84 

 Change/N-1

 Change/N-1

2018

Not disclosed

 Change/N-1

2019

+22 points

 Change/N-1

2020

-15 points

L’Oréal Group in France average ratio 

L’Oréal Group in France average ratio 

2018

 

L’Oréal Group in France average ratio 

2019

109

L’Oréal Group in France average ratio 

2020

104

Change/N-1

Change/N-1

2018

 

Change/N-1

2019

 

Change/N-1

2020

 -5 points

Ratio médian société L’Oréal 

Ratio médian société L’Oréal 

2018

110

Ratio médian société L’Oréal 

2019

137

Ratio médian société L’Oréal 

2020

123 

Change/N-1

Change/N-1

2018

Not disclosed

Change/N-1

2019

 +17 points

Change/N-1

2020

-14 points

L’Oréal company median ratio

L’Oréal company median ratio

2018

 

L’Oréal company median ratio

2019

148

L’Oréal company median ratio

2020

142

Change/N-1

Change/N-1

2018

 

Change/N-1

2019

 

Change/N-1

2020

 -6 points

Remuneration of the Chairman, Mr Jean-Paul Agon (€)

Remuneration of the Chairman, Mr Jean-Paul Agon (€)

2018Not applicable

Remuneration of the Chairman, Mr Jean-Paul Agon (€)

2019

1,600,000The remuneration of Mr Jean-Paul Agon, Chairman of the Board from 1 May 2021, comprises a fixed remuneration component expressed on an annual basis.

Remuneration of the Chairman, Mr Jean-Paul Agon (€)

2020

1,600,000

Remuneration of the Chairman, Mr Jean-Paul Agon (€)

2021

1,600,000

Change/N-1

Change/N-1

2018

Not disclosed

Change/N-1

2019

0%

Change/N-1

2020

0%

L’Oréal company average ratio

L’Oréal company average ratio

2018

16

L’Oréal company average ratio

2019

15

L’Oréal company average ratio

2020

13

Change/N-1

Change/N-1

2018

Not disclosed

Change/N-1

2019

- 1 point

Change/N-1

2020

- 2 points

L’Oréal Group in France average ratio

L’Oréal Group in France average ratio

2018

 

L’Oréal Group in France average ratio

2019

17

L’Oréal Group in France average ratio

2020

16

Change/N-1

Change/N-1

2018

 

Change/N-1

2019

 

Change/N-1

2020

- 1 point

L’Oréal company median ratio

L’Oréal company median ratio

2018

23

L’Oréal company median ratio

2019

21

L’Oréal company median ratio

2020

19

Change/N-1

Change/N-1

2018

Not disclosed

Change/N-1

2019

- 2 points

Change/N-1

2020

- 2 points

L’Oréal Group in France median ratio

L’Oréal Group in France median ratio

2018

 

L’Oréal Group in France median ratio

2019

23

L’Oréal Group in France median ratio

2020

22

Change/N-1

Change/N-1

2018

 

Change/N-1

2019

 

Change/N-1

2020

-1 point

L’Oréal company average remuneration ()

L’Oréal company average remuneration ()

2018

95,207

L’Oréal company average remuneration ()

2019

100,959

L’Oréal company average remuneration ()

2020

104,896

L’Oréal company average remuneration ()

2021

100,694

L’Oréal company average remuneration ()

2022

104,848

L’Oréal company average remuneration ()

2023

126,323

Change/N-1

Change/N-1

2018

+2.70%

Change/N-1

2019

+6.00%

Change/N-1

2020

+3.90%

Change/N-1

2021

-4.01%

Change/N-1

2022

+4.13%

Change/N-1

2023

Not comparableCompte tenu des évolutions de l'organisation de L'Oréal en France (filialisation en 2023 de certaines activités de la société L'Oréal), une partie des effectifs de la société L'Oréal a été transférée au sein de nouvelles entités, rendant la comparaison des rémunérations 2022/2023 médianes et moyennes non pertinente.

Average remuneration for the L’Oréal Group in France (€)

Average remuneration for the L’Oréal Group in France (€)

2018

Not disclosed

Average remuneration for the L’Oréal Group in France (€)

2019

Not disclosed

Average remuneration for the L’Oréal Group in France (€)

2020

Not disclosed

Average remuneration for the L’Oréal Group in France (€)

2021

89,222

Average remuneration for the L’Oréal Group in France (€)

2022

95,140

Average remuneration for the L’Oréal Group in France (€)

2023

101,419

Change/N-1

Change/N-1

2018

 

Change/N-1

2019

 

Change/N-1

2020

 

Change/N-1

2021

 

Change/N-1

2022

+6.63%

Change/N-1

2023

+6.6%

L’Oréal company median remuneration (€)

L’Oréal company median remuneration (€)

2018

66,167

L’Oréal company median remuneration (€)

2019

68,709

L’Oréal company median remuneration (€)

2020

72,216

L’Oréal company median remuneration (€)

2021

70 729

L’Oréal company median remuneration (€)

2022

75,878

L’Oréal company median remuneration (€)

2023

85,880

Change/N-1

Change/N-1

2018

+3.10%

Change/N-1

2019

+3.80%

Change/N-1

2020

+5.10%

Change/N-1

2021

-2.06%

Change/N-1

2022

+7.28%

Change/N-1

2023

Not comparableGiven the changes to L’Oréal’s organisational structure in France (the 2023 subsidiarisation of certain L’Oréal S.A. activities), a proportion of the L’Oréal S.A. workforce has been transferred to new entities, making the comparison of median and average remuneration for 2022/2023 irrelevant.

Median remuneration for the L’Oréal Group in France (€)

Median remuneration for the L’Oréal Group in France (€)

2018

Not disclosed

Median remuneration for the L’Oréal Group in France (€)

2019

Not disclosed

Median remuneration for the L’Oréal Group in France (€)

2020

Not disclosed

Median remuneration for the L’Oréal Group in France (€)

2021

65,847

Median remuneration for the L’Oréal Group in France (€)

2022

70,036

Median remuneration for the L’Oréal Group in France (€)

2023

74,258

Change/N-1

Change/N-1

2018

 

Change/N-1

2019

 

Change/N-1

2020

 

Change/N-1

2021

 

Change/N-1

2022

+6.36%

Change/N-1

2023

+ 6.0%

Group sales (€m)

Group sales (€m)

2018

26,937

Group sales (€m)

2019

29,873,60

Group sales (€m)

2020

27,992,10

Group sales (€m)

2021

32 287,6

Group sales (€m)

2022

38 260,6

Group sales (€m)

2023

41 182.5

Change/N-1 (like-for-like)

Change/N-1 (like-for-like)

2018

+7.10%

Change/N-1 (like-for-like)

2019

+8.00%

Change/N-1 (like-for-like)

2020

-4.10%

Change/N-1 (like-for-like)

2021

+16.1%

Change/N-1 (like-for-like)

2022

+ 10.9%

Change/N-1 (like-for-like)

2023

+ 11.0%

Group operating profit (€m)

Group operating profit (€m)

2018

4,922

Group operating profit (€m)

2019

5,547.50

Group operating profit (€m)

2020

5,209.00

Group operating profit (€m)

2021

6,160.3

Group operating profit (€m)

2022

7,456.9

Group operating profit (€m)

2023

8,143.3

Change/N-1 

Change/N-1 

2018

+5.30%

Change/N-1 

2019

+12.70%

Change/N-1 

2020

-6.10%

Change/N-1 

2021

+18.3 %

Change/N-1 

2022

+ 21.0%

Change/N-1 

2023

+ 9.2%

 

The remuneration of Mr Nicolas Hieronimus, Chief Executive Officer from 1 May 2021, comprises a fixed remuneration component expressed on an annual basis and a performance share award. For the record, no annual variable remuneration was paid to Mr Nicolas Hieronimus in 2021, as his position of Corporate Officer took effect on 1 May 2021. 

The annual remuneration of Mr Nicolas Hieronimus reported consists of fixed compensation, variable compensation paid in April  year Y for financial year Y-1 (expressed on an annual basis for 2022), and a performance share award.

The remuneration of Mr Jean-Paul Agon, Chairman of the Board from 1 May 2021, comprises a fixed remuneration component expressed on an annual basis.

Given the changes to L’Oréal’s organisational structure in France (the 2023 subsidiarisation of certain L’Oréal S.A. activities), a proportion of the L’Oréal S.A. workforce has been transferred to new entities, making the comparison of median and average remuneration for 2022/2023 irrelevant.