Key figures 2014

FR
EN
Performance over 5 years
  • Consolidated sales
  • Operating profit
  • Pre-tax profit excluding non-recurrent items from continuing operations (1)
  • Net profit excluding non-recurrent items after minority interests from continuing operations (1)
(1) Non-recurring items include mainly capital gains and losses on long-term asset disposals, impairment of long-term assets, restructuring costs and elements relating to identified operational incomes and expenses, non-recurring and significant regarding the consolidated performance.
(1) Non-recurring items include mainly capital gains and losses on long-term asset disposals, impairment of long-term assets, restructuring costs and elements relating to identified operational incomes and expenses, non-recurring and significant regarding the consolidated performance.
Consolidated sales and operating profit

Consolidated sales

Growth
€ millions Like-for-like Published
Cosmetics Divisions 21,658.2 +3.8% +1.7%
The Body Shop 873.8 +1.6% +4.6%

Operating profit

€ millions Weight Published growth % of sales
Cosmetics Divisions 3,825 +98.3% +3.7% 17.7%
The Body Shop 65 1.7% -9.7% 7.5%

Cosmetics Divisions
  • Consolidated sales
  • 2014 Operating profit
(1) "Other" includes hygiene products and sales made by American distributors with brands outside of the group.

By division

€ millions % of sales
Professionnel Products 609 20.1%
Consumer Products 2,186 20.3%
L'Oréal Luxe 1,269 20.5%
Active Cosmetics 376 22.7%
Cosmetics Divisions total 4,440 20.5%
Non-allocated(1) - 615 -2.8%
Divisions total after non-allocated 3,825 17.7%
(1) "Non-allocated" items consist of the expenses of Functional Divisions and fundamental research, stock option and free grant of shares costs, which are not allocated to the Cosmetics Divisions. This item also includes non-core activities, such as insurance, reinsurance and banking.



By geographic zone

€ millions % of sales
Western Europe 1,746 22.7%
North America 1,010 18.7%
New Markets 1,684 19.6%
Total for geographic zones (1) 4,440 20.5%
(1) Before non-allocated.
Financial ratios
2013 2014
Operation profit / sales
(% of sales)
17.0% 17.3%
Net profit excluding non-recurrent items after minority interests / Opening shareholders' equity
(% of shareholders' equity)
14.5% 13.8%
Net gearing(1)
(% of shareholders' equity)
n/a 3.3%
Cash flow / Investments 3.7x 3.8x
(1)Net gearing =
Current and non-current debt - Cash and cash equivalents
Shareholders' equity after minority interests

Breakdown of shareholding structure
(1) Of which 0.74% In the L’Oréal Company Savings Plan (PEE) pursuant to article L. 225-102 of the Commercial Code.
Dividend
(1) Dividend proposed to the Annual General Meeting of April 22, 2015.
(2) Based on the dividend proposed to the Annual General Meeting of April 22, 2015.
(3) Dividend distribution rate based on diluted net profit excluding non-recurrent items per share.

Research and innovation
  • Research and innovation budget
  • Number of patents
Human resources
  • Change in workforce
  • Breakdown of employees by geographic zone
Operations

Main indicators

2012 2013 2014
Cosmetics investments
(Production & physical distribution commitments, € millions)
330 358 342
Comparable products purchasing price index
Index (basis 100 : years N-1)
96.6 96.6 97.3



2014 Cosmetics production Cosmetics consolidated sales
Western Europe 43.6% 35.5%
North America 19.2% 24.9%
New Markets 37.2% 39.6%
Total 100.0% 100.0%