2023 universal registration document

6. Parent Company Financial Statements

The individual financial statements set out in this chapter are those of the L’Oréal parent company. They show the financial situation of the parent company stricto sensu. Unlike the consolidated financial statements, they do not include the results of the Group’s subsidiaries.

The information regarding the parent company financial statements that was previously included in the Management Report of the Board of Directors is now included in this chapter. The pages concerned are the table showing the main changes and thresholds crossed regarding investments in subsidiaries, the five year financial summary and the amount of expenses and charges provided for in Article 223 quater of the French General Tax Code, and the table showing invoices issued and received, not paid at the closing date of the financial year and in arrears, provided for by Articles L. 441-14 and D. 441-6 of the French Commercial Code. The Statutory Auditor’s Report on the parent company financial statements completes this information.

6.1. Compared Income Statements

€ millions Notes 31.12.2023 31.12.2022 31.12.2021
Operating revenue Operating revenueNotes

 

Operating revenue31.12.20236,909.6 Operating revenue31.12.20227,164.5 Operating revenue31.12.20215,944.5
Sales

Sales

Notes

2

Sales

31.12.2023

5,982.7

Sales

31.12.2022

6,282.0

Sales

31.12.2021

5,255.4

Reversals of provisions and transfers of charges

Reversals of provisions and transfers of charges

Notes

 

Reversals of provisions and transfers of charges

31.12.2023

169.9

Reversals of provisions and transfers of charges

31.12.2022

168.4

Reversals of provisions and transfers of charges

31.12.2021

135.6

Other revenue

Other revenue

Notes

3

Other revenue

31.12.2023

757.0

Other revenue

31.12.2022

714.1

Other revenue

31.12.2021

553.5

Operating expenses Operating expensesNotes

 

Operating expenses31.12.2023- 5,917.1 Operating expenses31.12.2022- 6,290.3 Operating expenses31.12.2021- 5,297.1
Purchases and change in inventories

Purchases and change in inventories

Notes

 

Purchases and change in inventories

31.12.2023

- 478.9

Purchases and change in inventories

31.12.2022

- 792.8

Purchases and change in inventories

31.12.2021

- 705.4

Other purchases and external charges

Other purchases and external charges

Notes

 

Other purchases and external charges

31.12.2023

- 3,296.1

Other purchases and external charges

31.12.2022

- 3,309.4

Other purchases and external charges

31.12.2021

- 2,659.0

Taxes and similar payments 

Taxes and similar payments 

Notes

 

Taxes and similar payments 

31.12.2023

- 120.6

Taxes and similar payments 

31.12.2022

- 129.7

Taxes and similar payments 

31.12.2021

- 135.4

Personnel costs

Personnel costs

Notes

 

Personnel costs

31.12.2023

- 1,307.6

Personnel costs

31.12.2022

- 1,376.3

Personnel costs

31.12.2021

- 1,276.7

Depreciation, amortisation and charges to provisions

Depreciation, amortisation and charges to provisions

Notes

5

Depreciation, amortisation and charges to provisions

31.12.2023

- 381.3

Depreciation, amortisation and charges to provisions

31.12.2022

- 314.2

Depreciation, amortisation and charges to provisions

31.12.2021

- 288.7

Other charges 

Other charges 

Notes

 

Other charges 

31.12.2023

- 332.6

Other charges 

31.12.2022

- 367.9

Other charges 

31.12.2021

- 231.9

Operating profit Operating profit Notes

 

Operating profit 31.12.2023992.5 Operating profit 31.12.2022874.2 Operating profit 31.12.2021647.4
Net financial revenue

Net financial revenue

Notes

6

Net financial revenue

31.12.2023

5,124.1

Net financial revenue

31.12.2022

11,711.7

Net financial revenue

31.12.2021

3,517.1

Net charges/reversals of provisions and transfers of charges

Net charges/reversals of provisions and transfers of charges

Notes

6

Net charges/reversals of provisions and transfers of charges

31.12.2023

- 2,010.5

Net charges/reversals of provisions and transfers of charges

31.12.2022

108.1

Net charges/reversals of provisions and transfers of charges

31.12.2021

- 183.4

Exchange gains and losses

Exchange gains and losses

Notes

 

Exchange gains and losses

31.12.2023

35.8

Exchange gains and losses

31.12.2022

- 316.1

Exchange gains and losses

31.12.2021

- 93.6

Net financial income Net financial incomeNotes

 

Net financial income31.12.20233,149.4 Net financial income31.12.202211,503.7 Net financial income31.12.20213,240.1
Profit before tax and exceptional items Profit before tax and exceptional itemsNotes

 

Profit before tax and exceptional items31.12.20234,141.9 Profit before tax and exceptional items31.12.202212,377.9 Profit before tax and exceptional items31.12.20213,887.5
Exceptional items Exceptional itemsNotes7 Exceptional items31.12.2023- 113.8 Exceptional items31.12.2022246.6 Exceptional items31.12.20212.1
Employee Profit Sharing

Employee Profit Sharing

Notes

 

Employee Profit Sharing

31.12.2023

- 37.7

Employee Profit Sharing

31.12.2022

- 31.0

Employee Profit Sharing

31.12.2021

- 27.4

Income tax

Income tax

Notes

8

Income tax

31.12.2023

- 164.1

Income tax

31.12.2022

- 250.4

Income tax

31.12.2021

- 1.7

NET PROFIT NET PROFITNotes

 

NET PROFIT31.12.20233,826.3 NET PROFIT31.12.202212,343.1 NET PROFIT31.12.20213,860.5