Could you tell us more about the group’s performance in 2014?

The group’s performance was very solid. We further strengthened our positions in three of our four Divisions. The Active Cosmetics Division and L’Oréal Luxe substantially outperformed their markets in all regions. The Professional Products Division grew faster than its market. The Consumer Products Division meanwhile saw a temporary slowdown in its growth, mainly reflecting its weaker performance in the United States, where – after three years of increasing its market share – it marked a pause. In geographic terms, the group strengthened its positions in all parts of the world, except North America. Our progress was especially good in Western Europe, a zone that is strategically important for the group. Profitability there is strong, and there are bright prospects for increasing our market shares, which are already high in this region. We also made progress in the New Markets, our number one zone since 2012, where once again we increased our market share and recorded high growth.

And in terms of results?

2014 was once again a year of very solid financial results. The group significantly raised its profitability, which reached a record level at 17.3%. Its net profit increased, and the same applies to net earnings per share and the dividend proposed at the Annual General Meeting, which is up by +8%.

Was 2014 an important year of transformation?

Yes, L’Oréal has undergone substantial strategic transformations this year to reinforce our competitive advantage in the beauty market. We have made major strategic acquisitions that ideally complement our unique portfolio of brands. The integration of DECLÉOR and CARITA means that our Professional Products Division is moving into a new market: professional skincare. The acquisitions of MAGIC, NIELY and NYX are adding to the presence and potential of the Consumer Products Division in markets of great strategic importance: skincare in China and Asia for MAGIC, hair colour in Brazil and Latin America for NIELY, and make-up in America and the rest of the world for NYX. Lastly, the acquisition of CAROL’S DAUGHTER will underpin our beauty expertise in order to best serve multicultural customers.

You have also stepped up digital initiatives. Is this another kind of transformation?

It certainly is. 2014 was an important year for L’Oréal’s digital transformation, with the appointment of Lubomira Rochet as Chief Digital Officer and a member of the group’s Executive Committee. I am fully convinced that digitalisation will profoundly transform the relationship between our brands and consumers in a positive way. We strongly believe that digitalisation is a very important factor in the group’s success. What is more, our decentralised organisation, entrepreneurial spirit, and multi-brand and multi-channel approach are ideally adapted to the digital world. It thus represents a major opportunity and we intend to be trailblazers and leaders in the field of digital beauty. In 2014, we made major advances across all our Divisions and in strategic countries: you can find out more in our online Annual Report.

Were there any other strategic transformations?

2014 was the first year in the roll-out of our major corporate social responsibility project: “Sharing Beauty With All”. Its objective is to make L’Oréal into a model company that is exemplary in terms of sustainable innovation, production and consumption, and shared growth by 2020. This is a vital challenge, because sustainable development is, and increasingly will be, an essential driver for the durable success of companies in the 21^st century. As you will see in our Progress Report, we have already made significant advances in a number of fields, especially sustainable innovation and production. For instance, at the end of 2014 we achieved a 50% reduction in CO₂ emissions from our factories and distribution centres compared with 2005. As for social issues, 2014 marked the roll-out of the “L’Oréal Share & Care” programme, an unprecedented project aimed at universalising optimum social protection for all group employees worldwide. Moreover, several strategically important internal transformations also took place this year.

What are these internal transformations and what are your objectives?

We have started a huge simplification initiative. I am quite convinced that the more complex the world becomes, the more we need to simplify our approach, so as to be fast, agile, responsive, and capable of seizing up-and-coming trends and taking advantage of all opportunities. The aim of these transformations is to adapt the group to a fast-changing world, and to prepare it for future success. We want to be a leader with the spirit of a challenger, and a large company with the spirit of a start-up.

So this is the driving force for 2015 and beyond?

Yes, but that’s not all. We will keep on course to conquer the beauty market, through all our Divisions, driven by our brands in all regions of the world. We are confident that the world cosmetics market will continue to grow and believe in our ability to outperform the market in terms of organic growth. We will also take advantage of the favourable impact of the monetary environment. We will rely, as always, on strong ethical principles and on talented and committed L’Oréal teams, which are totally dedicated to continuing our great adventure: in other words, pursuing our “Beauty for All” mission, our Universalisation strategy, and our goal of attracting one billion new consumers. At the same time, we will keep on inventing the New L’Oréal of the 21^st century: universal, digital and sustainable.