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Clichy, February 15, 2010

2009 Annual Results

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WITH SOLID, GOOD QUALITY RESULTS
L’OREAL HAS PREPARED ITSELF WELL FOR
A RETURN TO GROWTH IN 2010

2009 sales: 17.5 billion euros
Good quality operating profit
    - Improvement in gross profit rate
    - Reduction in selling, general and administrative expenses
    - Increase in R&D and advertising & promotion expenses


Strong growth in cash flow
Net earnings per share* at 3.42 euros
Growth in dividend** to 1.50 euro (+4.2%) Comments
The Board of Directors of L'Oréal met on February 15, 2010 under the chairmanship of Sir Lindsay Owen-Jones and in the presence of the Statutory Auditors. The Board closed the consolidated financial statements and the financial statements for 2009.

Commenting on the figures, Mr Jean-Paul Agon, Chief Executive Officer of L'Oréal, said:
After a difficult start to the year due to a contraction in sell-out and drastic inventory reduction by the trade, the cosmetics market has gradually improved and ended up slightly positive. In this context, L’Oréal has weathered the crisis well and confirmed its position as the world leader in beauty.
2009 has been an exceptional vintage for innovation, and a year of very strong dynamism in Consumer Products, along with the conquest of a large number of new hair salons and rapid growth in new markets. The group ended the year with good quality operating results, record cash flow and a very robust financial situation.
We have also devoted the year to preparing for the future with three major strategic changes: the broadening of the consumer base with the target of winning a billion new consumers, a thorough transformation of the company to make it stronger and more flexible, and finally, a determined increase of investments in R&D and advertising & promotion to accelerate growth.
Overall, L’Oréal has emerged from 2009 stronger, and has prepared itself well for a return to sales and results growth in 2010
.”

Furthermore, the Board of Directors has decided to propose to the Annual General Meeting on April 27, 2010 the payment of a dividend of €1.50 per share, an increase of +4.2% compared with 2008.

At the end of the board meeting, Sir Lindsay Owen-Jones said: “2009 has ended with good quality results, in a truly exceptional economic context. Thanks to the energy, imagination and combativity of Jean-Paul Agon and his teams, the group has succeeded in renewing itself and preparing for the future. The proposal by the Board of Directors to pay a dividend of 1.50 euro is an expression of our confidence in the solidity of L'Oréal and of our legitimate and particular concern to achieve the right balance.


The Board has decided to continue the separation of the roles of Chairman and Chief Executive Officer, and to renew the tenure of Sir Lindsay Owen-Jones as Chairman and that of Mr Jean-Paul Agon as Chief Executive Officer at the meeting to be held after the Annual General Meeting on April 27, 2010, subject to the renewal of their terms of office as directors. This renewal and the remuneration of the Chairman and of the Chief Executive Officer will shortly be the subject of a news release which will be available on the company's Internet site.


* diluted net earnings per share, based on net profit excluding non-recurrent items attributable to the group.
** proposed at the Annual General Meeting of April 27, 2010.

A – 2009 sales

Like-for-like, i.e. based on a comparable structure and identical exchange rates, the sales trend of the L'Oréal group was -1.1%.
The net impact of changes in consolidation, as a result of the acquisitions of YSL Beauté, CollaGenex Pharmaceuticals and the 100% consolidation of Club des Créateurs de Beauté, amounted to +1.9%.
Currency fluctuations had a negative impact of -1.2%.
Growth at constant exchange rates was +0.8%.
Based on reported figures, the group's sales, at December 31, 2009, amounted to 17.473 billion euros, a decrease of -0.4%.

Sales by operational division and geographic zone
4th quarter 2009At December 31, 2009
€mGrowth€mGrowth
Like-for-likeReportedLike-for-likeReported
By operational division      
Professional Products581.6-1.5%-6.7% 2 388.5-3.3%-3.4%
Consumer Products(1)  2 074.85.2%-0.2% 8 555.23.2%1.5%
Luxury Products 1 159.9-4.7%-9.1%4 079.6-9.0%-2.2%
Active Cosmetics 260.11.1%-3.4%1 233.8-1.5%-4.3%
Cosmetics Total4 076.4 1.0%-4.0%16 257.2 -1.5%-0.6%
       
By geographic zone      
Western Europe1 714.7-6.1%-6.9%7 036.6-6.3%-4.7%
North America904.6-0.8%-10.4%3 801.9-3.4%1.7%
Rest of the World, of which:1 457.112.2%4.5%5 418.77.2%3.4%
- Asia559.812.6%4.9%2 147.88.3%16.5%
- Eastern Europe 335.811.3%-3.8%1 212.83.3%-12.1%
- Latin America 320.010.3%3.7%1 138.411.2%-1.1%
- Africa-Orient-Pacific241.415.3%18.7%919.75.0%6.7%
Cosmetics Total4 076.41.0%-4.0%16 257.2 -1.5%-0.6%
The Body Shop 240.93.9%-2.0%726.30.7%-3.9%
Dermatology(2)151.214.2%10.3%489.110.8%14.6%
Group total4 468.51.5%-3.5%17 472.6 -1.1%-0.4%
(1) After reclassification of the “Distance selling” activity under the Consumer Products Division heading.
(2) Group share, i.e. 50%.
1) Cosmetics sales

PROFESSIONAL PRODUCTS

In a hairdressing market which felt the strong impact of the economic context, the Professional Products Division ended 2009 at -3.3% like-for-like and is significantly strengthening its positions in all regions of the world, with a steady improvement in the second part of the year.

- In 2009 the initiatives implemented to counter the effects of the crisis led to the conversion of a record number of hair salons to the division’s brands, placing it in a position of strength for the upturn in activity.
Matrix has continued its expansion in the growth-relay countries; Redken is performing well in the United States; Pureology is being rolled out in Western Europe; Kérastase has proven resilient; and L’Oréal Professionnel has taken major initiatives to strengthen its leadership.
In haircare the year’s major successes were Force Vector by L’Oréal Professionnel for brittle hair, Age Premium by Kérastase and Rejuvatherapie from Matrix for mature hair, and Color Extend by Redken for colour-treated hair. The technical services Oléo Relax Slim and Volumorphose have bolstered the activity of Kérastase.
In hair colourants, activity was strong at the end of the year with the launches of Dream Age by Matrix and Cover Fusion from Redken for mature women. L’Oréal Professionnel introduced a major hair colour innovation, Inoa, the first ammonia-free oxidation colourant with Oil Delivery System. Launched in September 2009 in Europe, Inoa is proving an unprecedented success and has been awarded the Prix d’Excellence Marie-Claire.

- In Western Europe, the division has seen its sales improve slightly since September, thanks particularly to Inoa, and is winning market share in many countries including Germany, Austria and the Scandinavian countries. In North America, sales were affected by the sharp contraction in the market, but the division is accentuating its leadership, particularly thanks to Redken. In December, two further acquisitions of American distributors, Maly’s Midwest and Marshall Salon Services, have extended the SalonCentric network.
The Rest of the World zone remained dynamic with strong growth in Brazil, India and China, where the division is proving highly successful with its perms and is increasing its education efforts to build the professional markets of tomorrow.

CONSUMER PRODUCTS

The Consumer Products Division achieved annual growth of +3.2% like-for-like, with a fourth quarter at +5.2%. The 2nd half thus reflected a strong upturn in amounts invoiced, bolstered in particular by the Garnier and Maybelline brands, the dynamism of the new markets, and rapid growth in skincare. Over the full year, the division grew slightly faster than the worldwide market trend.


- L’Oréal Paris
recorded a good second half, thanks to an extensive programme of innovations in all categories, particularly in make-up, with the fourth quarter launches of Roll’on True Match foundation and Double Extension mascara with renewal lash serum.
Garnier is making fast progress thanks to strong growth in skincare, where the brand is making major breakthroughs in Asia and is holding on to its positions in the United States. It is recording strong increases in the growth-relay countries, and has successfully moved into new categories: deodorants in Latin America and Eastern Europe, and men’s skincare in India and Asia.

Maybelline is growing quickly and consistently across all zones, thanks in particular to the successes of Color Sensational lipstick.


- In Western Europe, the division’s trend is slightly less rapid than the market, whose trend remained positive. There was a contrasting situation with, on the one hand, the United Kingdom and Germany which are still dynamic in sell-out, and on the other hand, Spain where the market is still very tough, and where the division’s positions are traditionally strong.
In North America, in a market which remained stable, the division is improving its positions, with market share gains in haircare and skincare.

In the Rest of the World zone, the markets were again dynamic. In Eastern Europe, particularly in Russia, the division is advancing in all categories, thanks to the breakthrough of Garnier deodorants and the continuing success of L’Oréal Paris in hair colourants.

In Latin America, and Brazil in particular, the division achieved strong growth, driven by Elsève haircare products by L’Oréal Paris which are gaining ground throughout the zone, and Garnier deodorants, which are continuing to win market share.
In Asia, the division recorded very strong growth with the L’Oréal Paris and Garnier skincare lines. In Japan, where the market was very depressed, the division advanced thanks to the success of Maybelline.

In India, Garnier achieved very strong growth across all categories, and successfully rolled out its Garnier Men range.

LUXURY PRODUCTS

The Luxury Products Division ended 2009 at -9% like-for-like and -2.2% based on reported figures with the consolidation of YSL Beauté. The large difference between shipments to distributors and retail sales is due to the impact of inventory reduction which affected most regions. The end of the year brought a recovery in sell-out, and over the full year the division held on to its worldwide positions in sell-out terms. The weakness of the perfume market and the particularly difficult situation of some West European markets, where the division’s brands are leaders, hampered its performance.


- Lancôme
made two major technological breakthroughs in anti-ageing skincare: Génifique in the field of genomics, which won the Prix d’Excellence Marie-Claire, is proving a resounding commercial success, and Absolue Precious Cells in the stem cells field. In make-up, Lancôme had a great year in mascara with the launches of Hypnôse Drama and Oscillation Power Booster. Yves Saint Laurent saw its sell-out accelerate significantly in 2009, particularly at the end of the year in the United States and France, thanks to the success of the fragrances La Nuit de l’Homme, L’Homme Yves Saint Laurent, Parisienne, and Opium, and in make-up with Teint Resist, winner of the Prix d’Excellence Marie-Claire.

Kiehl’s is recording very strong worldwide growth, driven in particular by Asia, and is launching the organic skincare line Açai. Diesel is making significant advances, and its men’s fragrance Only The Brave was one of the top launches. Biotherm is innovating with Skin Vivo, a very significant advance in skincare.


- In Western Europe, the division recorded an improvement in sell-out in the 4
th quarter, particularly in France and the United Kingdom, thanks to Yves Saint Laurent, Lancôme and Diesel. Inventory reduction continued in the countries of Southern Europe.
In North America, the division’s trend was in line with the market, with faster growth from Lancôme and Yves Saint Laurent. It is also making strong progress in alternative distribution channels: home TV shopping and Internet sales. The perfume market has remained difficult.
In the Rest of the World zone, while the Middle East was significantly more difficult, it is worth noting the acceleration in Asia, where growth in sell-out was double-digit and faster than the market trend, particularly thanks to Lancôme and Kiehl’s, whose sales are growing very quickly in South Korea, and which got off to a successful start in Japan and China.

Travel Retail was in clear decline over the full year, but recorded a positive 4th quarter trend, thanks to a boost from Asia.

ACTIVE COSMETICS

The Active Cosmetics Division annual sales trend was -1.5% like-for-like. The 4th quarter again reflected an improvement at +1.1% like-for-like, confirming the recovery in activity compared with the 1st half. Worldwide, the division confirmed its position as number one in dermocosmetics.

- La Roche-Posay is expanding strongly in all geographic zones, across all categories.
Vichy is maintaining its leadership thanks to initiatives aimed at winning new customers and strong activity in facial skincare with the launch of Neovadiol GF, and in the other categories with the launch of Essentielles, the new Vichy entry-level range.
SkinCeuticals is recording good growth thanks to the success of its new serum Phloretin CF and the roll-out of the brand outside the United States.
Innéov is continuing to win market share.


-
Sales in Western Europe were down, reflecting inventory reductions by wholesalers and parapharmacies, as well as the difficulties of Vichy and Innéov with their seasonal products.
In North America the division is continuing to win market share in the context of a sharp slowdown in the activity of doctors and spas.
There were contrasting situations in the Rest of the World. Due to the financial difficulties of some distributors, sales are down in Eastern Europe. Latin America is growing strongly.
Multi-division summary by geographic zone

WESTERN EUROPE

Annual performance came out at -6.3% like-for-like. The group’s trend is still favourable in the United Kingdom, while France, Italy and particularly Spain and Travel Retail are continuing to weigh on performances in this zone. The impact of inventory reductions by distributors, which is particularly significant in Luxury Products, is gradually declining.

NORTH AMERICA

The situation improved at the end of the year with a 4th quarter at -0.8% like-for-like, enabling the group to end 2009 at -3.4%. Over the full year, the group slightly outpaced the market in sell-out terms. The Luxury Products Division picked up in the final months of the year with the successes of Lancôme and Yves Saint Laurent. Professional Products produced one of their best ever years in market share gain terms, thanks in particular to the distribution strategy initiated 3 years ago with the acquisition of distributors. Consumer Products are growing slightly faster than the market.

REST OF THE WORLD

Asia: The group’s growth accelerated in the 4th quarter to +12.6% like-for-like and +17.9% excluding Japan. Over the full year, the group recorded growth of +8.3%, in a market that was stagnant because of very depressed consumption in Japan. Outside Japan, the group’s growth rate was +12.2%. L’Oréal is strengthening its positions in the three major markets in this zone – Japan, South Korea and China – and in new markets such as Indonesia. The skincare category is continuing its rapid expansion. In China, where the group recorded a further market share gain, the haircare line L’Oréal Hair Expertise launched this summer has made a very good start.

Eastern Europe: After a difficult start to the year for the market, sales accelerated sharply in the final quarter, with a growth rate of +11.3%, enabling L’Oréal to end the year at +3.3%. The group strengthened its positions, particularly in the Consumer Products Division. There is a very pronounced contrast: the sales trend in Hungary and the Czech Republic was still negative, whilst growth was strong in Ukraine, and Russia recorded a strong growth rate at the end of the year. The group has created a subsidiary in Kazakhstan.

Latin America: Sales grew by +11.2% like-for-like. All major countries are recording sales growth. Brazil accelerated, ending the year at +15%. Argentina and Chile are posting double-digit growth. Mexico is gradually improving, and resumed positive growth with the haircare breakthrough of Elvive Total Repair 5 by L’Oréal Paris.

Africa-Orient-Pacific: Sales increased by +5% like-for-like, with strong acceleration in the 4th quarter at +15.3%. The situation is contrasting: India has a growth rate of +31.5%, and is back on the offensive, driven by the Garnier brand. South Africa recorded a high growth rate. The Gulf countries however had a very tough year because the Luxury Products Division was hit hard by the crisis in the region. The group has created subsidiaries in Egypt and Pakistan.

2) The Body Shop sales

The Body Shop ended the year with like-for-like growth at +0.7%. Total Retail Sales(1) grew by +1.0%. With a comparable store base(2), sales were down by -0.6%. The Body Shop proved resilient in a severely affected retail market, registering solid growth in most of Asia, the Middle East and mainland Europe. However, the economic climate continued to hamper customer footfall in countries such as the United Kingdom and in North America.

The Body Shop continued to pursue its innovations strategy with the launch of Nutriganics, its first certified organic skincare regime and Love Etc™, a fragrance using Community Trade alcohol made from organic sugar cane. The brand also launched The Originals collection, which includes 11 iconic The Body Shop products sold at attractive prices.

The brand further extended its reach by opening new retail outlets in airports.

At the end of 2009, The Body Shop has a total of 2,550 stores in 63 countries.

(1) Retail sales: total sales to consumers through all channels.
(2) Retail sales with a comparable store base: total sales to consumers by stores which operated continuously from January 1st to December 31st, 2008 and over the same period in 2009.

3) Galderma sales

Galderma achieved a year of solid growth at +10.8% like-for-like. Sales increased by +9.5% in the North America zone. Sales in Europe and the Rest of the World zone posted double-digit growth. The company recorded the highest absolute growth in the dermatology industry in 2009, achieving record market share.


The Adapalene molecule, which serves as the foundation for
Epiduo and Differin, continued to grow market share worldwide as the leading topical treatment for acne. Epiduo was approved in a growing number of countries on the five continents and was ranked as the fastest growing product in dermatology. In Japan, one year after its launch, Differin 0.1% gel continued to conquer the acne market. Oracea (rosacea) was approved in Europe together with Clobex Shampoo (psoriasis). Azzalure, a botulinum toxin type A specifically developed to correct glabellar lines, was launched with success in the European market. Vectical was approved in the United States and rapidly adopted as an important component in the treatment of psoriasis.

B - Important events during the period 10/01/09 - 12/31/09
On December 31, 2009, L'Oréal USA, a subsidiary of L'Oréal, acquired, through its SalonCentric division, Maly's Midwest and Marshall Salon Services. The two companies supply over 40,000 hair salons across 8 states in the Middle West through a network of 120 representatives and 90 stores open only to professionals. Their combined sales in 2009 amounted to approximately $130m. The two acquisitions were consolidated as of December 31, 2009. C - 2009 Results
Audited financial statements, certification in progress. 1) Operating profitability and Consolidated profit and loss account
€m12/31/2008*% sales 12/31/2009 % sales
Sales17 542 100%17 473100%
Cost of sales-5 18729.6%-5 16229.5%
Gross profit12 35570.4%12 31170.5%
R&D expenses-5883.3%-6093.5%
Advertising & promotion expenses-5 269 30.0%-5 38930.8%
Selling, general and administrative expenses-3 77321.5%-3 73621.4%
Operating profit2 72515.5%2 57814.8%
* Foreign exchange gains and losses have been reclassified to the various lines making up the operating profit. Net sales and operating profit remain unchanged. Gross margin amounted to 70.5% of sales. The improvement of 10 basis points reflects efficiency gains in plants and gains on purchasing, and, on the other hand, extra costs linked in particular to monetary parities. This improvement in gross profit was particularly significant in the second half of 2009.

Research and development expenses, as announced, increased as a percentage to reach 3.5% of sales.

Advertising and promotion expenses, at 30.8% of sales, have increased significantly compared with 2008 when they stood at 30%. Investments to support the brands have increased across all divisions and zones.

Selling, general and administrative expenses have declined to 21.4% of sales, representing a reduction of 10 basis points. This decrease was most significant in the second half.

Operating profit amounted to 2,578 million euros, down by -5.4%. The reduction in the operating profitability percentage reflects the increase in advertising and promotion investments in 2009.
2) Operating profit by branch and division
2008 €m2008 % sales2009 €m2009 % sales
By operational division    
Professional Products51921.0 %47720.0%
Consumer Products(1)1 56618.6 %1 57718.4%
Luxury Products76718.4 %61715.1%
Active Cosmetics25920.1 %25020.2%
Cosmetics divisions total3 11019.0 % 2 92118.0%
Non allocated(2)-502-3.1 % -482-3.0%
Cosmetics branch total2 60815.9 % 2 43915.0%
The Body Shop364.8 %547.4%
Dermatology branch(3)8018.7 % 8517.4%
Group2 72515.5 %2 57814.8%
(1) After reclassification of the “Distance selling” activity under the Consumer Products Division heading.
(2) Non-allocated = Central group expenses, fundamental research expenses, stock option expenses and miscellaneous items. As % of total sales.
(3) Group share, i.e. 50%.

The profitability of the Professional Products Division was slightly lower at 20.0% of sales.
The profitability of the Consumer Products Division remained practically stable at 18.4% of sales.
The profitability of the Luxury Products Division decreased by 330 basis points, of which 100 basis points are the result of the dilution of Yves Saint Laurent Beauté.
The profitability of Active Cosmetics increased very slightly to 20.2% of sales.

In 2009 The Body Shop achieved a strong improvement in its profitability, which amounted to 7.4% of sales.

Finally, the profitability of the Dermatology branch, Galderma, reached 17.4%. Galderma invested significantly in 2009 in order to take up new positions in the acne field with its new product Epiduo.

3) Profitability by geographic zone
Operating profit€m 2008% sales 2008€m 2009% sales 2009
Western Europe1 63422.1%1 47020.9%
North America59315.9%55414.6%
Rest of the World88416.9%89616.5%
Cosmetics zones total3 11019.0%2 92118.0%
The lower profitability in Western Europe at 20.9% is the result of the greater weight of research expenses and advertising and promotion expenses.
In North America and in the Rest of the World zone, the decline in profitability reflects the increase in advertising and promotion expenses. 4) Net earnings per share: €3.42
 
In €m12.31.200812.31.2009
Operating profit2 725  2 578
Finance costs -181 -89
Sanofi-Aventis dividends 245 260
Pre-tax profit excluding non-recurrent items 2 789 2 749
Income tax excluding non-recurrent items -722 -749
Minority interests -2.6 -2.7
Net profit excluding non-recurrent items after minority interests (1) 2 064 1 997
EPS (2) (€) 3.49 3.42
Diluted net profit per share (group share) (€) 590 920 078 583 797 566

(1) Net profit excluding non-recurrent items after minority interests does not include capital gains and losses on disposals of long-term assets, impairment of assets, restructuring costs, associated tax effects or minority interests.
(2) Diluted net earnings per share excluding non-recurrent items, after minority interests.

The finance costs were reduced by half to 89 million euros.
Dividends received from Sanofi-Aventis amounted to 260 million euros, up by +6.3%.
Tax amounted to 749 million euros, representing a rate of 27.3%.
In all, net profit excluding non-recurrent items after minority interests totalled 1,997 million euros, down by -3.2% and -2% at constant exchange rates.
Net earnings per share amounted to €3.42, down by -2.1%, and down by -0.8% at constant exchange rates. 5) Net profit excluding non-recurrent items after minority interests: €1,997m
En M€ 12/31/200812/31/2009     
Net profit excluding non-recurrent items after minority interests2 064 1 997-3.2%
Non-recurrent items net of tax-116 -205 
Net profit after minority interests1 9481 792 
Diluted earnings per share (€) 3.30 3.07 
Non-recurrent items amounted to a gross amount of -278 million euros before tax (-205 million euros, net of tax) and consist primarily of:
i. 54 million euros of depreciation of intangible assets and goodwill.
ii. 223 million euros of restructuring costs. 6) Cash flow Statement, Balance sheet and Debt

Gross cash flow amounted to 2,758 million euros, an increase compared with 2008.
The working capital requirement trend was extremely favourable, with a decrease of 466 million euros at December 31. Inventories were down by 170 million euros. Trade accounts receivable decreased by 312 million euros.
Capital expenditure was contained at 3.6% of sales, compared with 4.3% in 2008.

After dividend payment, amounting to 851 million euros, the residual cash flow comes out at 1,809 million euros, representing very strong growth compared with 2008.


The balance sheet structure
is very robust, with shareholders’ equity representing 58% of total assets.


Net financial debt
amounted to 1,958 million euros, representing 14.4% of shareholders’ equity, compared with 3,700 million euros and 32% at end-2008. 7) Proposed dividend at the Annual General Meeting on April 27, 2010
The Board of Directors has decided to propose that the Annual General Meeting of Shareholders of April 27, 2010 should approve a dividend of €1.50 per share, an increase of +4.2% compared with the dividend paid in 2009. This dividend will be paid on May 5, 2010 (ex-dividend date April 29 at midnight). 8) Share Capital
Finally, the Board of Directors has set the amount of the share capital at December 31, 2009:  598,972,410 shares with a par value of 0.20 euro, representing a total of 119,794,482 euros.

"This news release does not constitute an offer to sell, or a solicitation of an offer to buy L'Oréal shares. If you wish to obtain more comprehensive information about L'Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our Internet site www.loreal-finance.com.
This news release may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements
."

Contacts at L'Oréal

Individual shareholders and market authorities
Mr Jean Régis CAROF
Tel. : +33.1.47.56.83.02
jcarof@dgaf.loreal.com

Financial analysts and institutional investors
Mrs Caroline MILLOT
Tel. : +33.1.47.56.86.82
cmillot@dgaf.loreal.com

Journalists
Mr Mike RUMSBY
Tel. : +33.1.47.56.76.71
mrumsby@dgc.loreal.com

Switchboard
Tél: +33.1.47.56.70.00

For more information, please contact your bank, broker or financial institution (I.S.I.N. code: FR0000120321), and consult your usual newspapers, and the Internet site for shareholders and investors, http://www.loreal-finance.com, or its mobile version on your cell phone, http://loreal-finance.mobi; alternatively, call +33.1.40.14.80.50.

D - Annexes

L'Oréal group sales 2008/2009 (€ millions)


20082009
First quarter  
Cosmetics4,1184,112
The Body Shop 168162
Dermatology7396
First quarter total 4,3594,370
Second quarter  
Cosmetics4,0164,104
The Body Shop 166161
Dermatology105134
Second quarter total 4,2874,399
First half  
Cosmetics8,1348,216
The Body Shop 334323
Dermatology178230
First half total 8,6468,769
Third quarter  
Cosmetics3,9783,965
The Body Shop 176162
Dermatology112108
Third quarter total 4,2664,235
Nine months  
Cosmetics12,11212,181
The Body Shop 510485
Dermatology290338
Nine months total 12,91213,004
Fourth quarter  
Cosmetics 4,2474,076
The Body Shop 246241
Dermatology 137151
Fourth quarter total 4,6304,469
Full year  
Cosmetics16,35916,257
The Body Shop 756726
Dermatology427489
Full year total 17,54217,473