2022 Universal Registration Document

2022 was another year of remarkable, balanced and responsible performance. Reinforcing its position as the world’s leading beauty company, L’Oréal grew 1.8 times faster than the market, with +10.9% like-for-like growth and +18.5% reported, outperforming the market across all Divisions, all geographic Zones and all categories for the second year in a row.

The L’Oréal engine fired on all cylinders and the Group delivered another strong operating margin improvement. In line with our dual ambition of economic and corporate performance, L’Oréal has continued to deliver strong environmental and social performance. Our teams around the world are at the heart of this tremendous collective success.

Over the past three years, in a context of unprecedented poly-crisis, we have continued to transform ourselves and make our business model more virtuous. Leveraging our Research & Innovation capacity and strong brands, as well as our digital leadership, we have widened the gap with the market: we have emerged stronger from 2022 and are confident in our ability to achieve another year of growth in sales and profits in 2023.

Looking forward, we already see the dawn of a new era, multipolar and fragmented, augmented by Tech and Artificial Intelligence, with the highest expectations in terms of sustainability, purpose and cultural diversity.

L’Oréal is uniquely positioned to win in this new world and evolve from «beauty for all» to «beauty for each», by leveraging its strengths: an unrivalled portfolio of desirable brands; our innovation leadership to champion Beauty Tech and stimulate consumers’ appetite for beauty with cutting-edge products and services; our industrial agility and our multipolar model – strategically centralised and operationally decentralised, with a strong entrepreneurial spirit. We are confident that the beauty market will grow yet further and that we will outperform, thanks to our unique culture. L’Oréal is ready for a new era!