Key figures 2015

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 2015

Growth
€ millions Like-for-like Published
Cosmetics Divisions 24,290.2 +4.1% +12.2%
The Body Shop 967.2 -0.9% +10.7%

Operating profit 2015

€ millions Weight Published growth % of sales
Cosmetics Divisions 4,333 98.7% +13.3% 17.8%
The Body Shop 55 1.3% -16.1% 5.7%

Cosmetics Divisions
  • Consolidated sales
  • 2015 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 678 20.0%
Consumer Products 2,386 20.1%
L'Oréal Luxe 1,497 20.7%
Active Cosmetics 415 22.8%
Cosmetics Divisions total 4,976 20.5%
Non-allocated(1) - 643 -2.6%
Divisions total after non-allocated 4,333 17.8%
(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 1,827 22.7%
North America 1,257 18.9%
New Markets 1,893 19.7%
Geographic Zones total (1) 4,977 20.5%
(1) Before non-allocated.
Financial ratios
2014 2015
Operation profit / sales
(% of sales)
17.3% 17.4%
Net profit excluding non-recurrent items after minority interests / Opening shareholders' equity
(% of shareholders' equity)
13.8% 17.3%
Net gearing(1)
(% of shareholders' equity)
3.3% n/a
Cash flow / Investments 3.8x 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) as defined by article L. 225-102 of the French Commercial Code.
Dividend
(1) For shareholders who continuously hold their shares in registered form for a minimum of two full calendar years, up to a maximum of 0.5% of the capital for the same shareholder.
(2) Dividend proposed to the Annual General Meeting of April 20, 2016.
(3) Based on the dividend proposed to the Annual General Meeting of April 20, 2016.
(4) Pay-out ratio based on diluted net profit excluding non-recurring items, after non-controlling interests, 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

2013 2014 2015
Cosmetics investments
(Production & physical distribution commitments, € millions)
358 342 353
Comparable annual product purchasing price index
(Index basis 100 : years N-1)
96.6 97.3 98.1



2015 Cosmetics production Cosmetics consolidated sales
Western Europe 42.7% 33.1%
North America 21.1% 27.4%
New Markets 36.2% 39.5%
Total 100.0% 100.0%