EXTRACT FROM SPEECH BY THE CHAIRMAN
L’Oréal is a century-old startup that has actively built on stable pillars and an ability to adapt with phenomenal speed to an ever-shifting world.
“Ladies and Gentlemen, Dear Shareholders,
L’Oréal further strengthened its position as a global beauty champion in 2023. I have tremendous confidence in the future of your company.
Year after year, the excellence of our model has been proven. Our dual commitment to business and society; our people-centred culture; listening to consumers; our obsession with permanent progress through research, innovation and quality; our drive to democratise the best of beauty; our value creation that benefits all. These fundamentals are the secret to L’Oréal’s durable, shared and sustainable growth. They are our strength and our difference.
This ambition for excellence is shared by all L’Oréal teams. They are the lifeblood of our Company. With artificial intelligence prompting many questions about the place of humans, we stand firm in our conviction that no algorithm can replace the magic of collective intelligence, the power of creativity and the intuition of our 90,000 L’Oréalians. I would like to express to them my deepest admiration and warmly congratulate each and every one of them.
We are determined to always aim ever higher. Your company achieved a record performance yet again in 2023, allowing us to offer a +10% increase in the dividend per share to €6.60. The +10% increase in the preferential dividend to €7.26 is also fair reward for your long-term loyalty.
As shareholders, you give us the means to fulfil our shared ambition. As Chairman, every day I measure the value of having loyal and committed shareholders. To strengthen this relationship that unites us, we are creating more opportunities for closer interaction and dialogue. In 2023, we had the pleasure of meeting you by resuming shareholder meetings throughout France. We were also delighted to host you at our sites, a first. I would like to take this opportunity to thank the members of the Consultation Committee who are here with us today. Your involvement is invaluable in helping us to better meet the expectations of all our shareholders.
Our commitments are equally essential drivers for our company. Business success is not enough. We are determined to be a leader staying true to our values. We strive for exemplary conduct: our culture of integrity underpins our longevity.
We vigorously commit to the environment. We are proud to be the only company in the world to have received the CDP’s highest rating (AAA) for eight years in a row.
We commit to our teams. In 2023, we celebrated the 10th anniversary of our pioneering Share & Care programme. This common universal base of social benefits has changed the lives of thousands of our employees and their families around the world.
We commit to equality and inclusion. Being ranked France’s leading company for gender equality by Equileap encourages us to continue in our fight against all forms of inequality and discrimination.
Through the L’Oréal Foundation, we commit to defending the rightful place of women in society. In 2023, we celebrated the 25th anniversary of our L’Oréal-UNESCO For Women in Science programme. Its impact is decisive on the careers and recognition of the 4,100 scientists we have supported in over 110 countries.
L’Oréal is in better shape than ever to project itself into the future. A one-of-a-kind beauty champion. Because L’Oréal is a century-old startup that has actively built on stable pillars and an ability to adapt with phenomenal speed to an ever-shifting world.
Today more than ever, giving confidence to hundreds of millions of people around the planet is an incredible mission.
Thank you for sharing this beautiful and inspiring Adventure of beauty with us.”
+10% increase in preferential dividend 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.