Finance & Legal
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2.7 more than 2.7 million visits for the digital version of the 2020 Annual Report
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4.98 more than 4.98 million views for videos in the 2020 Annual Report
Christophe Babule
Chief Financial Officer
Finance & Legal teams play a crucial role in making our dual goal of profitable and sustainable growth a reality. To achieve excellence and rise to new social and environmental challenges in our constantly changing world, we are always reinventing ourselves. Our entrepreneurial culture is a growth driver as well as a source of inspiration and innovation for creating the beauty that moves the world.
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64,000 over 64,000 downloads of the L’Oréal Finance application
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1,200 more than 1,200 people viewed the livestream of the 2021 Annual General Meeting
Highlights
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A sustainable business model
L’Oréal’s excellence is underpinned by a model that is stable, successful and bold. Read on for a closer look at this value-creating strategy.
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Combining economic and social excellence
In line with our purpose—"Create the beauty that moves the world”—our goal is to have a positive and sustainable social and economic impact that benefits all stakeholders in our ecosystem.
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The digital acceleration is in full swing at Finance & Legal
As the number of digital transactions continues to grow with the rapid development of new distribution channels, the Group is accelerating digitalisation of Finance to remain at the cutting edge of innovation.
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Proximity and transparency with shareholders
Along with 50 other companies, L’Oréal participated in the Investir Day event on 23 November 2021 at Palais Brongniart in Paris to meet individual shareholders. L’Oréal Chief Financial Officer, Christophe Babule, presented the Group’s unique model and balanced growth strategy, affirming the conviction that financial performance goes hand in hand with environmental, social and governance performance. To prove the Group’s commitment to this assertion and demonstrate the levels of innovation and quality attained by our products, Laurent Gilbert, Sustainable Innovation Director, also gave a presentation, which detailed the advances L’Oréal has made in the field of Green Sciences.
Fintech: an asset for supplier teams
Overseeing invoicing and anticipating payment are major undertakings for an international organisation like L’Oréal. We rolled out an efficient new system this year to manage the geographical and volume-related complexities of billing within a given timeframe and reduce time-to-payment for suppliers. Thanks to data mining technology, all accounting information is condensed into a single dashboard, saving a considerable amount of time for our teams. The system also enhances visibility for all accounting and makes the process more efficient. Fintech makes it possible to focus the expertise and talent of our teams on more value-added tasks, like strategic analysis, and to honour our commitments to suppliers more quickly.
Governance Grand Prix: a prerequisite for responsibility
Every year, leading financial news source AGEFI independently assesses all CAC 40 and SBF 120 companies to measure their quality of governance. This year, the jury awarded L’Oréal the 2021 Governance Grand Prix for its exemplarity as a “model” in the field.
The Group once again rolled out many great ESG initiatives this year, including impact investing, earmarking 100 million euros for nature, biodiversity, the circular economy, and the creation of a solidarity investment fund for highly vulnerable women. All of these examples illustrate the way L’Oréal’s business model seamlessly pairs economic and social excellence to create sustainable value for all.
