2024 universal registration document

Note 12 Property, plant and equipment

€ millions	31.12.2022	31.12.2023	Acquisitions/ Depreciation	Disposals/ Reversals	Other movements	31.12.2024
Land	Land 31.12.2022 81.3	Land 31.12.2023 80.5	Land Acquisitions/ Depreciation —	Land Disposals/ Reversals —	Land Other movements 0.1	Land 31.12.2024 80.6
Buildings	Buildings 31.12.2022 749.5	Buildings 31.12.2023 676.9	Buildings Acquisitions/ Depreciation 22.6	Buildings Disposals/ Reversals —	Buildings Other movements —	Buildings 31.12.2024 699.5
Industrial machinery and equipment	Industrial machinery and equipment 31.12.2022 215.0	Industrial machinery and equipment 31.12.2023 196.3	Industrial machinery and equipment Acquisitions/ Depreciation 3.0	Industrial machinery and equipment Disposals/ Reversals (0.5)	Industrial machinery and equipment Other movements (1.3)	Industrial machinery and equipment 31.12.2024 197.5
Other property, plant and equipment	Other property, plant and equipment 31.12.2022 351.9	Other property, plant and equipment 31.12.2023 59.9	Other property, plant and equipment Acquisitions/ Depreciation 0.6	Other property, plant and equipment Disposals/ Reversals (6.2)	Other property, plant and equipment Other movements 1.2	Other property, plant and equipment 31.12.2024 55.5
Property, plant and equipment in progress	Property, plant and equipment in progress 31.12.2022 85.9	Property, plant and equipment in progress 31.12.2023 28.3	Property, plant and equipment in progress Acquisitions/ Depreciation 40.3	Property, plant and equipment in progress Disposals/ Reversals —	Property, plant and equipment in progress Other movements (1.1)	Property, plant and equipment in progress 31.12.2024 67.5
Advances and prepayments	Advances and prepayments 31.12.2022 4.6	Advances and prepayments 31.12.2023 1.9	Advances and prepayments Acquisitions/ Depreciation —	Advances and prepayments Disposals/ Reversals —	Advances and prepayments Other movements (1.7)	Advances and prepayments 31.12.2024 0.2
Gross value	Gross value 31.12.2022 1,488.2	Gross value 31.12.2023 1,043.8	Gross value Acquisitions/ Depreciation 66.5	Gross value Disposals/ Reversals (6.7)	Gross value Other movements (2.8)	Gross value 31.12.2024 1,100.8
Land	Land 31.12.2022 2.4	Land 31.12.2023 2.5	Land Acquisitions/ Depreciation 0.2	Land Disposals/ Reversals —	Land Other movements —	Land 31.12.2024 2.7
Buildings	Buildings 31.12.2022 459.5	Buildings 31.12.2023 393.7	Buildings Acquisitions/ Depreciation 21.1	Buildings Disposals/ Reversals —	Buildings Other movements —	Buildings 31.12.2024 414.8
Industrial machinery and equipment	Industrial machinery and equipment 31.12.2022 171.2	Industrial machinery and equipment 31.12.2023 160.8	Industrial machinery and equipment Acquisitions/ Depreciation 8.7	Industrial machinery and equipment Disposals/ Reversals (0.5)	Industrial machinery and equipment Other movements (1.1)	Industrial machinery and equipment 31.12.2024 167.9
Other property, plant and equipment	Other property, plant and equipment 31.12.2022 227.3	Other property, plant and equipment 31.12.2023 46.4	Other property, plant and equipment Acquisitions/ Depreciation 3.5	Other property, plant and equipment Disposals/ Reversals (6.2)	Other property, plant and equipment Other movements 1.1	Other property, plant and equipment 31.12.2024 44.8
Amortisation	Amortisation 31.12.2022 860.4	Amortisation 31.12.2023 603.4	Amortisation Acquisitions/ Depreciation 33.5	Amortisation Disposals/ Reversals (6.7)	Amortisation Other movements —	Amortisation 31.12.2024 630.2
Land	Land 31.12.2022 —	Land 31.12.2023 —	Land Acquisitions/ Depreciation —	Land Disposals/ Reversals —	Land Other movements —	Land 31.12.2024 —
Industrial machinery and equipment	Industrial machinery and equipment 31.12.2022 2.6	Industrial machinery and equipment 31.12.2023 1.2	Industrial machinery and equipment Acquisitions/ Depreciation —	Industrial machinery and equipment Disposals/ Reversals —	Industrial machinery and equipment Other movements —	Industrial machinery and equipment 31.12.2024 1.2
Impairment	Impairment 31.12.2022 2.6	Impairment 31.12.2023 1.2	Impairment Acquisitions/ Depreciation —	Impairment Disposals/ Reversals —	Impairment Other movements —	Impairment 31.12.2024 1.2
NET VALUE	NET VALUE31.12.2022625.2	NET VALUE31.12.2023439.2	NET VALUEAcquisitions/ Depreciation33.0	NET VALUEDisposals/ Reversals —	NET VALUEOther movements(2.8)	NET VALUE31.12.2024469.4

The annual depreciation and amortisation charge for property, plant and equipment and intangible assets in 2024 amounted to:

€112.7 million on a straight-line basis;
€0.8 million relating to accelerated depreciation and amortisation.

Note 13 Financial assets

€ millions	31.12.2022	31.12.2023	Allocation of technical merger losses	Acquisitions/ Subscriptions	Disposals/ Reductions	Partial asset transfers⁽⁵⁾	Other movements	31.12.2024
Equity investments⁽¹⁾	Equity investments ⁽¹⁾31.12.2022 17,832.8	Equity investments ⁽¹⁾31.12.2023 19,384.6	Equity investments ⁽¹⁾Allocation of technical merger losses —	Equity investments ⁽¹⁾Acquisitions/ Subscriptions 1,859.9	Equity investments ⁽¹⁾Disposals/ Reductions (213.6)	Equity investments ⁽¹⁾Partial asset transfers⁽⁵⁾ 105.4	Equity investments ⁽¹⁾Other movements (26.6)	Equity investments ⁽¹⁾ 31.12.2024 21,109.8
Loans and advances⁽²⁾	Loans and advances ⁽²⁾31.12.2022 223.2	Loans and advances ⁽²⁾31.12.2023 3,753.6	Loans and advances ⁽²⁾Allocation of technical merger losses —	Loans and advances ⁽²⁾Acquisitions/ Subscriptions 4,746.7	Loans and advances ⁽²⁾Disposals/ Reductions (3,479.9)	Loans and advances ⁽²⁾Partial asset transfers⁽⁵⁾ —	Loans and advances ⁽²⁾Other movements —	Loans and advances ⁽²⁾ 31.12.2024 5,020.4
L’Oréal shares⁽³⁾	L’Oréal shares ⁽³⁾31.12.2022 —	L’Oréal shares ⁽³⁾31.12.2023 —	L’Oréal shares ⁽³⁾Allocation of technical merger losses —	L’Oréal shares ⁽³⁾Acquisitions/ Subscriptions 500.0	L’Oréal shares ⁽³⁾Disposals/ Reductions —	L’Oréal shares ⁽³⁾Partial asset transfers⁽⁵⁾ —	L’Oréal shares ⁽³⁾Other movements (500.0)	L’Oréal shares ⁽³⁾ 31.12.2024 —
Other	Other 31.12.2022 4.9	Other 31.12.2023 4.3	Other Allocation of technical merger losses —	Other Acquisitions/ Subscriptions 2.8	Other Disposals/ Reductions (0.7)	Other Partial asset transfers⁽⁵⁾ —	Other Other movements —	Other 31.12.2024 6.4
Gross value	Gross value 31.12.2022 18,060.9	Gross value 31.12.2023 23,142.5	Gross value Allocation of technical merger losses —	Gross value Acquisitions/ Subscriptions 7,109.3	Gross value Disposals/ Reductions (3,694.2)	Gross value Partial asset transfers⁽⁵⁾ 105.4	Gross value Other movements (526.6)	Gross value 31.12.2024 26,136.5
Equity investments⁽⁴⁾	Equity investments ⁽⁴⁾31.12.2022 785.6	Equity investments ⁽⁴⁾31.12.2023 2,789.3	Equity investments ⁽⁴⁾Allocation of technical merger losses —	Equity investments ⁽⁴⁾Acquisitions/ Subscriptions 43.5	Equity investments ⁽⁴⁾Disposals/ Reductions (106.0)	Equity investments ⁽⁴⁾Partial asset transfers⁽⁵⁾ —	Equity investments ⁽⁴⁾Other movements —	Equity investments ⁽⁴⁾ 31.12.2024 2,726.8
Loans and advances	Loans and advances 31.12.2022 0.4	Loans and advances 31.12.2023 —	Loans and advances Allocation of technical merger losses —	Loans and advances Acquisitions/ Subscriptions —	Loans and advances Disposals/ Reductions —	Loans and advances Partial asset transfers⁽⁵⁾ —	Loans and advances Other movements —	Loans and advances 31.12.2024 —
Other	Other 31.12.2022 0.3	Other 31.12.2023 0.2	Other Allocation of technical merger losses —	Other Acquisitions/ Subscriptions —	Other Disposals/ Reductions —	Other Partial asset transfers⁽⁵⁾ —	Other Other movements —	Other 31.12.2024 0.2
Impairment	Impairment 31.12.2022 786.3	Impairment 31.12.2023 2,789.5	Impairment Allocation of technical merger losses —	Impairment Acquisitions/ Subscriptions 43.5	Impairment Disposals/ Reductions (106.0)	Impairment Partial asset transfers⁽⁵⁾ —	Impairment Other movements —	Impairment 31.12.2024 2,727.0
NET VALUE	NET VALUE31.12.202217,274.6	NET VALUE31.12.202320,353.0	NET VALUEAllocation of technical merger losses —	NET VALUEAcquisitions/ Subscriptions7,065.8	NET VALUEDisposals/ Reductions(3,588.2)	NET VALUEPartial asset transfers⁽⁵⁾105.4	NET VALUEOther movements(526.6)	NET VALUE 31.12.2024 23,409.5

Acquisitions essentially corresponded to Galderma shares for €1,798.5 million. Disposals/reductions mainly concern the liquidation of Atelier Cologne Luxembourg for €88.9 million and L'Oréal West Africa for €25.3 million, the disposal of Beautycos International for €46.2 million and of Canan Kozmetik for €30.3 million.
Loans and advances correspond mainly to long-term investments with the Group's cash pool, amounting to €5,000 million (€3,750 million at 31 December 2023), with maturities between 2026 and 2031. Changes in this item correspond to short-term investments with the cash pool that we reimbursed during the year.
On 30 July 2024, the Board of Directors resolved, in connection with the authorisation approved by the Annual General Meeting of 23 April 2024, to buy back L’Oréal shares in the maximum amount of €500 million. The shares thus bought back for €500 million were cancelled in line with the Board of Directors’ decision on 10 October 2024.
See note 6 "Net financial income".
Concerns shares received as consideration for the partial asset transfer from L'Oréal to Soproréal.

The table of subsidiaries and holdings is included in note 29 to the parent company financial statements.

2024 universal registration document

6. 2024 parent company financial statements

Note 12 Property, plant and equipment

Note 13 Financial assets