L’Oréal: News release: “2021 Annual Results”

NEWS RELEASE                      Clichy, 9 February 2022 at 6.30 p.m.             2021 Annual Results A historic yr: +16.1% progress 1, twice the wonder market progress Very sturdy improve in income Sales: 32.28 billion euros +16.1% like-for-like 1+16.9% at fixed trade charges+15.3% primarily based on reported figures Sales progress in comparison with 2019: +11.3% like-for-likeRecord working revenue: 6.16 billion euros, 19.1% of gross salesEarnings per share 2: 8.82 euros, a rise of +20.9%Dividend 3: 4,80 euros, a rise of +20% The L’Oréal Board of Directors met on 9 February 2022, beneath the chairmanship of Jean-Paul Agon and within the presence of the Statutory Auditors. The Board closed the consolidated monetary statements and the monetary statements for 2021. Commenting on the figures, Nicolas Hieronimus, Chief Executive Officer of L’Oréal, mentioned: “2021 was a historic yr for L’Oréal. Thanks to the experience, ardour and dedication of our 85,400 L’Oréalians all over the world, the Group achieved report progress of +16.1percent1, twice that of the worldwide magnificence market. L’Oréal gained market share in all Zones, Divisions and classes. Over two years, the Group achieved progress of +11.3% like-for-like, spectacularly outperforming a market that had returned nearly to 2019 ranges. In 2021, all stars aligned for this historic efficiency. In phrases of Zones, North America made a powerful comeback and joined North Asia as the first progress contributor. In Europe, boosted by the Zone’s reorganisation, L’Oréal achieved vital market share positive factors and noticed a return to 2019 ranges. With a particularly risky public well being state of affairs in SAPMENA-SSA 4 and Latin America, L’Oréal demonstrated agility and delivered strong efficiency. L’Oréal Luxe grew to become the Group’s largest Division, with outstanding success in fragrances, whereas the Consumer Products Division, the biggest Division by quantity, strengthened its place, with noteworthy efficiency in make-up. The fast-growing Professional Products Division continued its far-reaching transformation and have become really omnichannel. With a portfolio of manufacturers that completely matches shoppers’ well being aspirations, Active Cosmetics additionally achieved spectacular progress, doubling in 4 years. In 2021, we once more prolonged our digital lead: e-commerce 5 grew by +25.7% 6, accounting for 28.9% of gross sales. We have been in a position to seize the alternatives provided by new digital channels. At the identical time, we’re persevering with to digitalise factors of sale as a part of an built-in omnichannel technique. We are additionally pursuing our Beauty Tech transformation by investing in information and synthetic intelligence, and by establishing strategic partnerships corresponding to our alliance with Verily, to raised perceive and characterise pores and skin and hair ageing mechanisms. L’Oréal’s distinctive progress, pushed by superior improvements, in addition to rigorous value management, has enabled us to speculate extensively in our manufacturers and improve their attraction, whereas on the identical time delivering report working revenue and an working margin up 50 foundation factors. We are additionally happy with our social and environmental efficiency, which displays our ambition to develop responsibly and share worth with all our stakeholders. First of all, with our staff, whom we affiliate with these distinctive outcomes by a report redistribution of profit-sharing schemes. Furthermore, to advertise youth employment, final yr we provided greater than 18,300 job alternatives to younger individuals beneath 30 as a part of our new international “L’Oréal For Youth” programme, which has an bold goal of 25,000 alternatives per yr from 2022 to 2025. Our efforts to assist gender parity had been additionally recognised by the Bloomberg Gender-Equality Index. In addition, L’Oréal USA, our largest subsidiary, achieved carbon neutrality for all its websites in 2021, some 4 years forward of our L’Oréal for the Future commitments. L’Oréal is the one firm on the planet to have been awarded an AAA rating by CDP six years in a row, for environmental management in tackling local weather change, defending forests and guaranteeing water safety. The finish of the yr was marked by the strategic transaction consisting of the buyback by L’Oréal of 4% of its personal shares held by Nestlé, which strengthens our shareholder construction, a key asset within the Group’s long-term success. In a worldwide context that is still risky initially of the yr, we’re assured in our means to outperform the market in 2022 and obtain one other yr of progress in each gross sales and income.”                                                        *** Annual General Meeting to be held on 21 April 2022 The Annual General Meeting will happen on 21 April 2022 at 10:00am. Shareholders shall be invited by the standard channels. The assembly will take note of the newest developments within the at the moment altering public well being situations. Shareholders are suggested to examine frequently the “Annual General Meeting” part on the loreal-finance.com web site for updates regarding the Annual General Meeting. Composition of the Board of Directors and its Committees Meeting on 9 February 2022, the Board of Directors determined to suggest to the Annual General Meeting of 21 April 2022 the renewal of the tenure as director of Mr Jean-Paul Agon, Mr Patrice Caine and Ms Belén Garijo for a four-year time period. If the Annual General Meeting approves Mr Agon’s renewed tenure as director, the Board assembly held after this Meeting shall be requested to reappoint him in his capability as Chairman of the Board of Directors. If the Annual General Meeting approves the proposed resolutions, the Board of Directors will proceed to be composed of 16 administrators, i.e. 14 administrators appointed by the Meeting and two administrators representing the staff. The steadiness by way of independence and variety will stay unchanged: Seven unbiased administrators out of 14 administrators appointed by the Annual General Meeting, i.e. 50%,Seven ladies and 7 males out of 14 administrators appointed by the Annual General Meeting, i.e. parity at 50%.   2021 SALES Like-for-like, i.e. primarily based on a comparable construction and an identical trade charges, the gross sales progress of the L’Oréal group was +16.1%.The internet affect of adjustments within the scope of consolidation was +0.8%.Growth at fixed trade charges got here out at 16.9%.At the top of 2021, foreign money fluctuations had a damaging affect of -1.6%. Based on reported figures, the Group’s gross sales, at 31 December 2021, amounted to 32.28 billion euros, a rise of +15.3%.  Sales by Division and Geographic Zone   4th quarter 2021 At 31 December 2021     Growth   Growth   €m Like-for-like Reported €m Like-for-like Reported By Division             Professional Products 1,059.6 +15.5% +18.5% 3,783.9 +24.8% +22.2% Consumer Products 3,290.5 +6.5% +10.0% 12,233.5 +5.6% +4.5% L’Oréal Luxe 3,753.9 +11.4% +16.5% 12,346.2 +20.9% +21.3% Active Cosmetics 990.3 +24.0% +28.4% 3,924.0 +31.8% +30.3% Group whole 9,094.4 +11.2% +15.4% 32,287.6 +16.1% +15.3% By geographic Zone             Europe 2,759.8 +9.5% +11.5% 10,184.8 +10.1% +10.7% North America 2,179.3 +19.6% +25.1% 8,155.9 +22.2% +18.1% North Asia 3,026.6 +7.3% +12.9% 9,863.3 +17.6% +18.6% SAPMENA – SSA 7 661.3 +14.9% +14.2% 2,312.0 +13.9% +10.0% Latin America 467.4 +8.1% +16.2% 1,771.5 +20.6% +20.6%               Group whole 9,094.4 +11.2% +15.4% 32,287.6 +16.1% +15.3%          Summary by Division PROFESSIONAL PRODUCTS The Professional Products Division ended the yr with sturdy progress: +24.8% like-for-like and +22.2% primarily based on reported figures.The Division maintained its upward momentum and achieved historic market share positive factors throughout all Zones, with outstanding efficiency within the United States and mainland China particularly. The advantages of its omnichannel technique had been mirrored within the restoration of in-salon gross sales, the distinctive efficiency of the SalonCentric distribution channel within the United States in addition to a powerful improve in e-commerce.Haircare remained the primary progress class. Kérastase had a spectacular yr, pushed by the success of Curl Manifesto. L’Oréal Professionnel, because of its disruptive innovation Metal Detox, and Redken, with its new Acidic Bonding Concentrate line, additionally recorded sturdy progress. Hair color made a really sturdy restoration, thanks particularly to the success of Shades EQ by Redken and Dialight by L’Oréal Professionnel.As an business chief, the Division is encouraging all its companion hairstylists to have interaction within the sustainable transition by launching its “Hairstylists for the Future” programme. CONSUMER PRODUCTS The Consumer Products Division grew by +5.6% like-for-like and +4.5% reported, with +6.5% like-for-like progress within the fourth quarter. The Division gained market share in 2021. The momentum is robust within the United States in addition to in high-potential markets, together with India, Brazil, Mexico and Indonesia. Growth was pushed by the event of e-commerce, in all of the Zones and notably in rising markets. All main manufacturers grew, with an distinctive run of improvements in all classes: in make-up, with Sky High mascara by Maybelline, which was probably the most profitable launch within the model’s historical past; in haircare, with premium improvements corresponding to Dream Lengths Wonder Water by Elsève, or L’Oréal Fall Resist in mainland China; and in skincare, with Garnier’s massively profitable Vitamin C Serum in lots of nations within the SAPMENA and Latin America Zones. NYX Professional Makeup additionally had an distinctive yr, boosted by main launches and new sorts of partnerships, such because the one with hit Netflix collection Money Heist (La Casa de Papel). L’Oréal Paris strengthened its place because the world’s primary magnificence model with gross sales exceeding 6 billion euros. L’ORÉAL LUXE L’Oréal Luxe recorded sturdy progress at +20.9% like-for-like and +21.3% reported, in a worldwide luxurious magnificence market that confirmed its restoration and noticed a return near pre-Covid ranges.The Division achieved outstanding, balanced efficiency, by class, geographic Zone and distribution community, and has develop into the biggest Division of the Group. L’Oréal Luxe took full benefit of the complementarity between its distribution channels, with a balanced acceleration of on-line and offline gross sales.L’Oréal Luxe gained market share in its three classes. The ultra-premium manufacturers Lancôme Absolue and Helena Rubinstein, and anti-aging improvements corresponding to Retinol Skin-Renewing Daily Micro-Dose Serum by Kiehl’s carried out very nicely in skincare. The Division consolidated its management in fragrances, pushed by the power of established icons like Libre by Yves Saint Laurent and by promising launches like Alien Goddess by Mugler and Luna Rossa Ocean by Prada. In a much less dynamic make-up market, efficiency was pushed by Lancôme and Shu Uemura.The Division strengthened its place throughout all Zones, recording vital market share positive factors in North Asia and wonderful efficiency in Europe. Following the reorganisation of its distribution community in North America, gross sales are once more accelerating on this Zone. At the top of the yr, L’Oréal Luxe finalised the acquisition of Youth to the People.    ACTIVE COSMETICS The Active Cosmetics Division ended the yr with distinctive progress at +31.8% like-for-like and +30.3% reported. The Division considerably outperformed a booming dermocosmetics market in 2021, with well being having develop into a core concern for shoppers. It strengthened an already strong relationship with healthcare professionals and confirmed its management in dermocosmetic suggestions.Active Cosmetics posted sturdy progress throughout all Zones, with distinctive efficiency in North America and North Asia. Offline gross sales noticed a return to sturdy double-digit progress and on-line gross sales had been exceptionally buoyant, exceeding one billion euros.The Division’s main manufacturers reported vigorous progress. La Roche-Posay greater than doubled its progress fee in contrast with 2020, because of leading edge improvements corresponding to Effaclar serum and Lipikar EczemaMED, which is revolutionising the remedy of eczema. Vichy strengthened its management in anti-aging in Europe, notably in skincare for menopausal ladies, whereas accelerating in Latin America and North America. SkinCeuticals continued to collect momentum, with the success of Silymarin CF confirming its antioxidant experience. CeraVe noticed spectacular progress for the second yr working, in each the United States and the remainder of the world. Summary by geographic Zone EUROPE The Zone ended the yr up +10.1% like-for-like and +10.7% reported, and is nearly again to its 2019 stage like-for-like.The magnificence market recovered throughout Europe in 2021 however remained beneath 2019 ranges. L’Oréal considerably outperformed the European market, pushed by a brand new surge in its on-line gross sales and digital management. The Group strengthened its place within the overwhelming majority of nations, notably the United Kingdom, Germany, France, Russia and the Scandinavian nations. It additionally gained market share in all its strategic classes: skincare, haircare, make-up and fragrances. Active Cosmetics delivered notably dynamic progress, pushed by the continued success of CeraVe and La Roche-Posay. Despite the closure of salons in a number of nations initially of the yr, the Professional Products Division returned to considerably larger efficiency ranges than in 2019, because of eager curiosity in its whole catalogue and the success of Kérastase and L’Oréal Professionnel improvements. L’Oréal Luxe confirmed its management in fragrances, with wonderful begins for Alien Goddess by Mugler and Luna Rossa Ocean by Prada, and the strengthening of mainstays like La Vie Est Belle by Lancôme and Libre by Yves Saint Laurent. The Consumer Products Division in the meantime continued to achieve market share in make-up. NORTH AMERICA The Zone ended the yr at +22.2% like-for-like and +18.1% primarily based on reported figures. In a yr nonetheless impacted by the pandemic and provide chain pressures, the Zone recorded market share positive factors in all Divisions and continued to develop each on-line and offline, as brick-and-mortar retailers reopened. The sturdy launch plan helped win over shoppers and safe their loyalty.Thanks to the success of breakthrough improvements corresponding to Maybelline Sky High mascara and Infallible powder by L’Oréal Paris, the Consumer Products Division reported progress over two years within the make-up class. Following the reorganisation of its distribution community, L’Oréal Luxe freed up assets permitting it to speed up progress, with extremely profitable launches within the fragrances class, together with Ralph’s Club by Ralph Lauren and Luna Rossa Ocean by Prada. The Professional Products Division noticed large progress, led by SalonCentric. Redken was a standout model, pushed by the launch of Acidic Bonding Concentrate. The Active Cosmetics Division recorded spectacular progress; CeraVe confirmed its place as probably the most really useful skincare model. NORTH ASIA The Zone ended the yr at +17.6% like-for-like and +18.6% reported.L’Oréal considerably strengthened its place throughout all Divisions and had a great yr, regardless of public well being restrictions and their opposed impact on footfall. In the Zone, L’Oréal Luxe continued to achieve market share, with the success of premium skincare Lancôme Absolue and Helena Rubinstein, and powerful efficiency of Yves Saint Laurent and Shu Uemura. Kérastase was the expansion driver of the Professional Products Division. Active Cosmetics progress continued, fueled by La Roche-Posay and SkinCeuticals. With a outstanding acceleration of its premium haircare vary, L’Oréal Paris boosted the efficiency of the Consumer Products Division.In mainland China, L’Oréal reported sturdy double-digit progress in 2021, twice that of the wonder market. In the fourth quarter, regardless of a slowdown in comparison with a really excessive base in 2020, the wonder market remained rather more buoyant than in 2019. In the final quarter, L’Oréal China achieved like-for-like progress of greater than 50% in contrast with 2019. During the Double 11 competition on Tmall, L’Oréal broke all data and reported additional market share positive factors, confirming its manufacturers’ attraction to Chinese shoppers. The iconic client occasion established L’Oréal Paris and Lancôme as the wonder market No.1 and No.3; Yves Saint Laurent took the highest slot in make-up, whereas Kérastase led the sector in haircare. Winning the Best Innovation award from ByteDance (TikTook) demonstrates L’Oréal China’s edge by way of digital activation and model constructing. Travel Retail additionally continued to develop nicely because of its booming enterprise in Hainan, whereas sustaining the attraction of Group manufacturers. SAPMENA – SSA 8 The Zone grew by +13.9% like-for-like and +10.0% primarily based on reported figures. In SAPMENA, in a risky context associated to the resurgence of the pandemic, e-commerce accelerated. In South-East Asia, L’Oréal noticed a return to pre-Covid ranges within the fourth quarter, with Vietnam attaining outstanding efficiency, boosted by the net gross sales growth. The Pacific nations recovered because of the plans put in place to stimulate demand. India and Pakistan continued to ship strong efficiency. The Gulf area, internet hosting the World Expo in Dubai, maintained progress momentum.The Consumer Products Division recorded good efficiency, because of Garnier’s haircare strains and the gradual restoration of Maybelline New York. L’Oréal Luxe reported distinctive efficiency in fragrances, with Yves Saint Laurent and Armani. Growth for the Professional Products Division was pushed by Kérastase. The Active Cosmetics Division continued to ship dynamic progress in skincare, powered by La Roche-Posay and CeraVe.The SSA Zone skilled dynamic progress over the yr. The Active Cosmetics Division recorded outstanding efficiency, because of the distinctive dynamism of La Roche-Posay. L’Oréal Luxe achieved sturdy market share positive factors in fragrances in South Africa. The Consumer Products Division noticed very sturdy efficiency from Dark & Lovely and Nice & Lovely, in addition to Maybelline New York.    LATIN AMERICA In 2021, the Zone posted sturdy progress: +20.6% like-for-like and +20.6% reported.Distribution channels had been totally open within the second half of the yr, following the short-term retailer closures within the first half. Although malls {and professional} salons skilled decrease footfall all year long, the wonder market nonetheless reported sturdy progress.Against this backdrop, L’Oréal achieved vital market share positive factors, with outstanding efficiency in Mexico, Brazil and Chile. Growth was pushed by e-commerce and offline gross sales: the Group’s manufacturers welcomed shoppers returning to shops with focused activation, whereas persevering with their digital engagement and on-line activation, leveraging key on-line occasions corresponding to Buen Fin and Black Friday. Major classes posted sturdy progress, pushed by the launch of superior improvements in addition to the success of iconic manufacturers and merchandise, most notably in haircare, skincare and fragrances. L’Oréal Paris elevated its market share positive factors in Brazil, Mexico and Chile, because of the extremely profitable launch of Elsève Hidra Hialurônico and the activation of Revitalift. La Roche-Posay posted vital market share positive factors; persevering with to develop quickly, CeraVe greater than doubled its gross sales within the Zone. ⁎⁎⁎ IMPORTANT EVENTS DURING THE PERIOD 1/10/21 TO 31/12/21 AND POST-CLOSING EVENTS On 26 October, L’Oréal received the “Parité du Top 100” Special Award given on the eighth version of the Awards for the Feminisation of the Governing Bodies of SBF120 corporations, introduced by the French Ministry for Gender Equality, Diversity and Equal Opportunities.Also on 26 October, L’Oréal introduced the launch of the biggest ever perfume disclosure mannequin, to strengthen its dedication to transparency and allow shoppers to make extra knowledgeable buy selections. To develop the brand new instrument, L’Oréal labored hand in hand with 4 worldwide leaders in perfume creation: Firmenich, Givaudan, IFF and Mane.On 3 November, L’Oréal obtained HRH The Prince of Wales’s Terra Carta 2021 Seal, which recognises international corporations driving innovation and demonstrating their dedication to, and momentum in the direction of, the creation of genuinely sustainable markets. On 16 November, L’Oréal Water Saver was named a prime innovation of 2021 by TIME Magazine. Developed in partnership with environmental innovation firm Gjosa, the L’Oréal Water Saver is a one-of-a form showerhead that may cut back water consumption by as a lot as 65%. Equipping 100,000 salons with this know-how might probably save as much as 6.8 billion litres of water.On 7 December, L’Oréal was recognised for management in company sustainability by international environmental non-profit CDP. L’Oréal is the one firm on the planet to have been awarded an AAA rating by CDP six years in a row, protecting the organisation’s three areas of focus: local weather change, water safety and forest conservation.On 13 December, L’Oréal was recognised by S&P for its excellent sustainability efficiency, receiving a rating of 85 out of 100, one of many world’s highest Environmental, Social & Governance (ESG) scores. On 29 December, L’Oréal accomplished its acquisition of Youth to the People, an American firm primarily based in California that develops high-performance skincare merchandise, recognized for his or her modern, science-based formulation combining premium vegan superfood extracts. On 3 January 2022, at CES 2022, L’Oréal unveiled its newest Beauty Tech improvements to reinvent the complete hair-colouring class. Colorsonic and Coloright are user-design breakthroughs set to remodel the at-home and in-salon expertise for shoppers and professionals.On 20 January 2022, L’Oréal and Verily, an Alphabet precision well being firm, introduced an unique magnificence partnership to advance pores and skin well being. The first-of-its form partnership within the magnificence business is anticipated to ivolve two programmes aimed toward higher understanding and characterising pores and skin and hair ageing mechanisms. It may even inform L’Oréal’s precision Beauty Tech technique and product improvement.On 26 January 2022, L’Oréal was recognised by Bloomberg Gender-Equality Index 2022 for the fifth consecutive yr, for having efficiently created an inclusive and equal work atmosphere. This reference index measures gender equality throughout 5 pillars: feminine management & expertise pipeline, equal pay & gender pay parity, inclusive tradition, anti-sexual harassment insurance policies, in addition to pro-women model.On 9 February 2022, the Board of Directors of L’Oréal cancelled the 22,260,000 L’Oréal shares repurchased from Nestlé, in accordance with the Board’s selections on 7 December 2021, efficient as of 10 February 2022. As of 10 February 2022, L’Oréal’s capital shall be fashioned by 535,412,372 shares with equal voting rights. 2021 RESULTSAudited monetary statements, certification in progress. Operating profitability at 19.1% of gross sales Consolidated revenue and loss accounts: from gross sales to working revenue.   2020 2021   €m % gross sales €m % gross sales Sales 27,992.1 100.0% 32,287.6 100,0% Cost of gross sales -7,532.3 26.9% -8,433.3 26.1% Gross revenue 20,459.8 73.1% 23,854.3 73.9% R&I bills -964.4 3.4% -1,028.7 3.2% Advertising and promotion bills -8,647.9 30.9% -10,591.0 32.8% Selling, normal and administrative bills -5,638.5 20.1% -6,074.2 18.8% Operating revenue 5,209.0 18.6% 6,160.3 19.1% Gross revenue, at 23,854 million euros, got here out at 73.9% of gross sales, in contrast with 73.1% in 2020, an enchancment of 80 foundation factors. Research & Innovation bills, at 3.2% of gross sales, exceed one billion euros. Advertising and promotion bills elevated by 190 foundation factors, at 32.8% of gross sales. Selling, normal and administrative bills, at 18.8% of gross sales, decreased by 130 foundation factors. Overall, working revenue elevated by 18.3% to six,160 million euros, and amounted to 19.1% of gross sales, an enchancment of fifty foundation factors. Operating revenue by Division   2020 2021   €m % gross sales €m % gross sales By Division         Professional Products 581.7 18.8% 806.9 21.3% Consumer Products 2,388.1 20.4% 2,466.0 20.2% L’Oréal Luxe 2,275.9 22.4% 2,816.3 22.8% Active Cosmetics 766.0 25.4% 990,5 25.2% Divisions whole 6,011.6 21.5% 7,079.7 21.9% Non-allocated 9 -802.6 -2.9% -919.4 -2.8% Group 5,209.0 18.6% 6,160.3 19.1% The profitability of the Professional Products Division got here out at 21.3% in 2021, an enchancment of 250 foundation factors. The profitability of the Consumer Products Division, at 20.2%, decreased by 20 foundation factors. The profitability of L’Oréal Luxe improved by 40 foundation factors, at 22.8%. The profitability of the Active Cosmetics Division got here out at 25.2%, a lower of 20 foundation factors. Non-allocated bills amounted to 919.4 million euros. Net revenue Consolidated revenue and loss accounts: from working revenue to internet revenue excluding non-recurring objects. €m 2020 2021 Growth Operating revenue 5,209.0 6,160.3 +18.3% Financial revenues and bills excluding Sanofi dividends -95.9 -59.6   Sanofi dividends 372.4 378.3   Profit earlier than tax excluding non-recurring objects 5,485.5 6,478.9 +18.1% Income tax excluding non-recurring objects -1,383.1 -1,535.6   Net revenue excluding non-recurring objects of fairness consolidated corporations +0.9 +0.6   Non-controlling pursuits -4.2 -5.5   Net revenue excluding non-recurring objects after non-controlling pursuits 4,099.0 4,938.5 +20.5%         EPS 10 (€) 7.30 8.82 +20.9% Net revenue after non-controlling pursuits 3,563.4 4,597.1 +29.0% Diluted EPS after non-controlling pursuits (€) 6.34 8.21   Diluted common variety of shares 561,635,963 559,791,545   Net finance prices amounted to 59 million euros. Sanofi dividends amounted to 378 million euros. Income tax excluding non-recurrent objects amounted to 1,535 million euros, representing a tax fee of 23.7%. Net revenue excluding non-recurring objects after non-controlling pursuits amounted to 4,938 million euros. Earnings per share 10, at 8.82 euros, elevated by 20.9%. Non-recurring objects after non-controlling pursuits 11 amounted to 341.4 million euros internet of tax. Net revenue after non-controlling pursuits got here out at 4,597 million euros, rising by 29.0%. Cash movement assertion, Balance sheet and Cash place Gross money movement amounted to six,640 million euros, a rise of 16%. The working capital requirement decreased by 88 million euros. At 1,075 million euros, investments represented 3.3% of gross sales. Net money movement 12 at 5,653 million euros, elevated by 3.1%. The steadiness sheet stays strong, with shareholders’ fairness amounting to 23.6 billion euros. On 7 December 2021, L’Oréal repurchased from Nestlé 22,260,000 of its personal shares. At the top of December 2021, the online debt of the Group amounted to three,586 million euros, together with 1,670 million euros of finance lease liabilities.  Proposed dividend on the Annual General Meeting of 21 April 2022 The Board of Directors has determined to suggest to the shareholders’ Annual General Meeting of 21 April 2022 a dividend of 4.80 euros per share, a rise of +20.0% in contrast with the dividend paid in 2021. The dividend shall be paid on 29 April 2022 (ex-dividend date 27 April at 0:00 a.m., Paris time). Share capital At 31 December 2021, the capital of the corporate is fashioned by 557,672,360 shares. As of 10 February 2022, the capital shall be fashioned by 535,412,372 shares, every with one voting proper. “This information launch doesn’t represent a suggestion to promote, or a solicitation of a suggestion to purchase L’Oréal shares. If you want to acquire extra complete details about L’Oréal, please confer with the general public paperwork registered in France with the Autorité des Marchés Financiers, additionally out there in English on our Internet website www.loreal-finance.com. This information launch could comprise some forward-looking statements. Although the Company considers that these statements are primarily based on cheap hypotheses on the date of publication of this launch, they’re by their nature topic to dangers and uncertainties which might trigger precise outcomes to vary materially from these indicated or projected in these statements.” This is a free translation into English of the 2021 Annual Results information launch issued within the French language and is supplied solely for the comfort of English-speaking readers. In case of discrepancy, the French model prevails. About L’Oréal For over 100 years, L’Oréal the world’s main magnificence participant, has devoted itself to at least one factor solely: fulfilling the wonder aspirations of shoppers all over the world.  Our objective – to create the wonder that strikes the world – defines our strategy to magnificence as inclusive, moral, beneficiant and dedicated to social and environmental sustainability.  With our broad portfolio of 35 worldwide manufacturers and bold sustainability commitments in our L’Oréal For The Future programme, we provide each particular person all over the world the most effective by way of high quality, efficacy, security, sincerity and accountability, whereas celebrating magnificence in its infinite plurality. With 85,400 dedicated staff, a balanced geographical footprint and gross sales throughout all distribution networks (e-commerce, mass market, shops, pharmacies, hair salons, branded and journey retail) in 2021 the Group generated gross sales amounting to 32.28 billion euros.  With 20 analysis facilities throughout 11 nations all over the world, a devoted Research and Innovation crew of 4 000 scientists and over 3,000 tech professionals, L’Oréal is targeted on inventing the way forward for magnificence and turning into a Beauty Tech powerhouse. More data on https://www.loreal.com/en/mediaroom L’ORÉAL CONTACTS Switchboard+33 (0) 1 47 56 70 00 Individual Shareholders and Market Authorities Mr Christian Munich+33 (0)1 47 56 72 [email protected] Investor relationsMs Françoise Lauvin+33 (0)1 47 56 86 [email protected] JournalistsMs Noëlle Camilleri+33 (0)6 79 92 99 [email protected]   For extra data, please contact your financial institution, dealer or monetary establishment (I.S.I.N. code: FR0000120321), and seek the advice of your ordinary newspapers, the Internet website for shareholders and buyers, www.loreal-finance.com or the L’Oréal Finance app, alternatively, name +33 1 40 14 80 50.  This press launch has been secured and authenticated with the blockchain know-how.You can confirm its authenticity on the web site www.wiztrust.com Appendices Appendix 1: L’Oréal group gross sales 2020/2021 (€ million)   2020 2021   €m €m Like-for-like evolution Reported evolution First quarter 7,225.2 7,614.5 +10.2% +5.4% Second quarter 5,851.3 7,582.1 +33.5% +29.6% First half whole 13,076.5 15,196.6 +20.7% +16.2% Third quarter 7,036.8 7,996.6 +13.1% +13.6% Nine months whole 20,113.3 23,193.1 +18.0% +15.3% Fourth quarter 7,878.8 9,094.4 +11.2% +15.4% Full yr whole 27,992.1 32,287.6 +16.1% +15.3% Appendix 2: Compared consolidated revenue statements € tens of millions 2021 2020 2019  Net gross sales         32,287.6         27,992.1         29,873.6 Cost of gross sales         -8,433.3         -7,532.3         -8,064.7 Gross revenue         23,854.3         20,459.8         21,808.9 Research & Innovation bills         -1,028.7         -964.4         -985.3 Advertising and promotion bills         -10,591.0         -8,647.9         -9,207.8 Selling, normal and administrative bills         -6,074.2         -5,638.5         -6,068.3 Operating revenue         6,160.3         5,209.0         5,547.5 Other revenue and bills         -432.0         -709.0         -436.5 Operational revenue         5,728.3         4,500.0         5,111.0 Finance prices on gross debt         -38.0         -79.2         -75.4 Finance revenue on money and money equivalents         18.5         19.8         28.7 Finance prices, internet         -19.4         -59.4         -46.7 Other monetary revenue and bills         -40.2         -36.5         -16.0 Sanofi dividends         378.3         372.4         363.0 Profit earlier than tax and associates         6,046.9         4,776.5         5,411.4 Income tax         -1,445.4         -1,209.8         -1,657.2 Share of revenue in associates         0.6         0.9         1.0 Net revenue         4,602.2         3,567.6         3,755.2 Attributable to:               4,597.1         3,563.4         3,750.0 non-controlling pursuits         5.1         4.2         5.2 Earnings per share attributable to homeowners of the corporate (euros)         8.24         6.37         6.70 Diluted earnings per share attributable to homeowners of the corporate (euros)         8.21         6.34         6.66 Earnings per share attributable to homeowners of the corporate, excluding non-recurring objects (euros)         8.86         7.33         7.78 Diluted earnings per share attributable to homeowners of the corporate, excluding non-recurring objects (euros)         8.82         7.30         7.74 Appendix 3: Consolidated assertion of complete revenue € tens of millions 2021 2020 2019 Consolidated internet revenue for the interval         4,602.2         3,567.6         3,755.2 Cash movement hedges         -203.7         129.1         2.9 Cumulative translation changes         610.5         -790.2         188.2 Income tax on objects that could be reclassified to revenue or loss (1)         41.5         -23.3         -1.9 Items that could be reclassified to revenue or loss         448.3         -684.4         189.2 Financial belongings at truthful worth by different complete revenue         1,192.2         -1,269.1         1,650.6 Actuarial positive factors and losses         585.5         -225.6         -327.7 Income tax on objects that will not be reclassified to revenue or loss (1)         -181.7         97.8         29.7 Items that will not be reclassified to revenue or loss         1,596.0         -1,396.9         1,352.6 Other complete revenue         2,044.3         -2,081.3         1,541.8 CONSOLIDATED COMPREHENSIVE INCOME         6,646.5         1,486.3         5,297.0 Attributable to:               6,641.4         1,482.1         5,291.9 non-controlling pursuits         5.1         4.2         5.1 (1)  The tax impact is as follows: € tens of millions 2021 2020 2019 Cash movement hedges         41.5         -23.3         -1.9 Items that could be reclassified to revenue or loss         41.5         -23.3         -1.9 Financial belongings at truthful worth by different complete revenue         -37.3         40.4         -51.7 Actuarial positive factors and losses         -144.4         57.4         81.4 Items that will not be reclassified to revenue or loss         -181.7         97.8         29.7 TOTAL         -140.2         74.5         27.8 Appendix 4: Compared consolidated steadiness sheets ASSETS € tens of millions 31.12.2021 31.12.2020 31.12.2019 Non-current belongings         30,937.6                 29,046.8                 29,893.3         Goodwill         11,074.5                 10,514.2                 9,585.6         Other intangible belongings         3,462.8                 3,356.3                 3,163.8         Right-of-use belongings         1,507.6                 1,525.3                 1,892.3         Property, plant and gear         3,266.2                 3,225.2                 3,644.3         Non-current monetary belongings         10,920.2                 9,604.8         10,819.1 Investments accounted for beneath the fairness technique         9.9                 11.1         10.9 Deferred tax belongings         696.5                 809.9         777.3 Current belongings         12,075.8                 14,560.1         13,916.5 Inventories         3,166.9                 2,675.8                 2,920.8         Trade accounts receivable         4,021.0                 3,511.3                 4,086.7         Other present belongings         2,037.9                 1,732.7                 1,474.9         Current tax belongings         136.2                 234.4         148.1 Cash and money equivalents         2,713.8                 6,405.9                 5,286.0         TOTAL         43,013.4                 43,606.9         43,809.8 EQUITY & LIABILITIES € tens of millions 31.12.2021 31.12.2020 31.12.2019 Equity         23,592.6         28,998.8         29,426.0 Share capital         111.5         112.0         111.6 Additional paid-in capital         3,265.6         3,259.8         3,130.2 Other reserves         19,092.2         18,642.5         16,930.9 Other complete revenue         5,738.6         4,304.5         5,595.8 Cumulative translation changes         -279.1         -889.2         -99.2 Treasury shares         -8,940.2         —         — Net revenue attributable to homeowners of the corporate         4,597.1         3,563.4         3,750.0 Equity attributable to homeowners of the corporate         23,585.7         28,993.0         29,419.3 Non-controlling pursuits         6.9         5.8         6.7 Non-current liabilities         2,837.6         3,478.0         3,515.3 Provisions for worker retirement obligations and associated advantages         360.6         1,013.5         772.9 Provisions for liabilities and expenses         63.8         56.8         56.9 Non-current tax liabilities         344.8         397.9         310.2 Deferred tax liabilities         810.3         706.6         737.7 Non-current borrowings and debt         10.7         8.5         9.6 Non-current lease debt         1,247.5         1,294.7         1,628.0 Current liabilities         16,583.2         11,130.1         10,868.5 Trade accounts payable         6,068.1         4,764.5         4,658.4 Provisions for liabilities and expenses         1,223.3         1,224.7         1,117.8 Other present liabilities         3,980.8         3,682.5         3,508.5 Income tax         268.9         215.1         334.8 Current borrowings and debt         4,619.4         856.4         841.2 Current lease debt         422.8         386.9         407.9 TOTAL         43,013.4         43,606.9         43,809.8 Appendix 5: Consolidated statements of adjustments in fairness € tens of millions Common shares excellent Capital Additional paid-in capital Retained earnings and internet revenue Other complete revenue Treasury shares Cumulative translation changes Equity attributable to homeowners of the corporate Non-controlling pursuits Total fairness At 31.12.2018          559,625,527         112.1         3,070.3         19,847.8 4,242.1         -56.5         -287.4         26,928.4         5.2         26,933.6 Changes in accounting coverage at 01.01.2019               -81.5         —         —         —         -81.5         —         -81.5 At 01.01.2019 (1)         559,625,527         112.1 3,070.3         19,766.3 4,242.1         -56.5         -287.4         26,847.0         5.2         26,852.2 Consolidated internet revenue for the interval               3,750.0               3,750.0         5.2         3,755.2 Cash movement hedges                 1.1             1.1         -0.1         1.0 Cumulative translation changes                     174.1         174.1                  174.1 Hyperinflation                     14.1         14.1           14.1 Other complete revenue that could be reclassified to revenue and loss                 1.1           188.2         189.3         -0.1         189.2 Financial belongings at truthful worth by different complete revenue         1,598.9             1,598.9           1,598.9 Actuarial positive factors and losses         -246.3             -246.3           -246.3 Other complete revenue that will not be reclassified to revenue and loss         1,352.6             1,352.6           1,352.6 Consolidated complete revenue               3,750.0 1,353.7           188.2         5,291.9         5.1         5,297.0 Capital improve         1,491,678         0.3 59.9         -0.1               60.0           60.0 Cancellation of Treasury shares           -0.8           -803.0           803.8           —           — Dividends paid (not paid on Treasury shares)               -2,176.7               -2,176.7         -3.6         -2,180.3 Share-based fee               144.4               144.4           144.4 Net adjustments in Treasury shares         -3,000,000                 -747.3           -747.3           -747.3 Changes within the scope of consolidation                       —           — Other actions               -0.1               -0.1           -0.1 At 31.12.2019         558,117,205         111.6 3,130.2         20,681.0 5,595.8         —         -99.2         29,419.3         6.7         29,426.0 Consolidated internet revenue for the interval               3,563.4               3,563.4         4.2         3,567.6 Cash movement hedges         105.6     105.6         0.2         105.8 Cumulative translation changes             -801.8         -801.8         -0.3         -802.1 Hyperinflation             11.9         11.9         —         11.9 Other complete revenue that could be reclassified to revenue and loss         105.6   -789.9         -684.3         -0.1         -684.4 Financial belongings at truthful worth by different complete revenue         -1,228.8             -1,228.8           -1,228.8 Actuarial positive factors and losses         -168.1             -168.1           -168.1 Other complete revenue that will not be reclassified to revenue and loss         -1,396.9   —         -1,396.9 —         -1,396.9 Consolidated complete revenue               3,563.4 -1,291.3           -789.9         1,482.1         4.2         1,486.3 Capital improve         1,754,375         0.4 129.6         -0.2               129.8           129.8 Cancellation of Treasury shares                              —           — Dividends paid (not paid on Treasury shares)               -2,172.6               -2,172.6         -4.9         -2,177.5 Share-based fee               129.7               129.7           129.7 Net adjustments in Treasury shares                       —           — Changes within the scope of consolidation                       —           — Other actions               4.8               4.8         -0.1         4.7 At 31.12.2020         559,871,580         112.0 3,259.8         22,206.0 4,304.5         —         -889.1         28,993.0         5.8         28,998.8 (1)  After taking account of the change in accounting coverage pertaining to IFRS 15 “Revenue from Contracts with Customers”. € tens of millions Common shares excellent Capital Additional paid-in capital Retained earnings and internet revenue (2) Other complete revenue Treasury shares Cumulative translation changes Equity attributable to homeowners of the corporate Non-controlling pursuits Total fairness At 31.12.2020         559,871,580         112.0         3,259.8         22,206.0         4,304.5         —         -889.1         28,993.0         5.8         28,998.8 Consolidated internet revenue for the interval               4,597.1               4,597.1         5.1         4,602.2 Cash movement hedges                 -161.9             -161.9         -0.3         -162.2 Cumulative translation changes                     582.4         582.4         0.3         582.7 Hyperinflation                     27.8         27.8           27.8 Other complete revenue that could be reclassified to revenue and loss                 -161.9           610.2         448.3         —         448.3 Financial belongings at truthful worth by different complete revenue                 1,154.9           —         1,154.9           1,154.9 Actuarial positive factors and losses                 441.1           —         441.1           441.1 Other complete revenue that will not be reclassified to revenue and loss                 1,596.0           —         1,596.0         —         1,596.0 Consolidated complete revenue               4,597.1         1,434.1         —         610.2         6,641.4         5.1         6,646.5 Capital improve         800,780                  5.8                        5.8                  5.8 Cancellation of Treasury shares           -0.5           -1,104.3           1,104.8           —                  — Dividends paid (not paid on Treasury shares)               -2,264.4               -2,264.4         -4.7         -2,269.1 Share-based fee               155.2               155.2           155.2 Net adjustments in Treasury shares         -25,260,000                 -10,045.0           -10,045.0           -10,045.0 Changes within the scope of consolidation               —               —                  — Other actions (2)               99.8         —             99.8         0.6         100.4 At 31.12.2021         535,412,360         111.5         3,265.6         23,689.3         5,738.6         -8,940.2         -279.1         23,585.7         6.9         23,592.6 (2) Of which €102.2 million pertaining to the IFRIC 2021 interpretation on IAS19 “Employee Benefits” on Attributing Benefit to Periods of Service. Appendix 6: Compared consolidated statements of money flows € tens of millions 2021 2020 2019 Cash flows from working actions       Net revenue attributable to homeowners of the corporate         4,597.1         3,563.4         3,750.0 Non-controlling pursuits         5.1         4.2         5.2 Elimination of bills and revenue with no affect on money flows:       depreciation, amortisation, provisions and non-current tax liabilities         1,781.0         2,028.1         1,958.3 adjustments in deferred taxes         83.6         -10.1         -42.5 share-based fee (together with free shares)         155.2         129.7         144.4 capital positive factors and losses on disposals of belongings         0.5         3.6         -14.0 Other non-cash transactions         16.5         5.8         1.9 Share of revenue in associates internet of dividends obtained         1.3         -0.6         -1.0 Gross money movement         6,640.4         5,724.1         5,802.3 Changes in working capital         88.0         729.2         460.5 Net money supplied by working actions (A)         6,728.4         6,453.3         6,262.8 Cash flows from investing actions       Purchases of property, plant and gear and intangible belongings         -1,075.2         -972.4         -1,231.0 Disposals of property, plant and gear and intangible belongings         14.5         26.6         16.6 Changes in different monetary belongings (together with investments in non-consolidated corporations)         -117.3         -66.5         -65.9 Effect of adjustments within the scope of consolidation         -455.7         -1,626.8         -9.3 Net money from investing actions (B)         -1,633.7         -2,639.1         -1,289.6 Cash flows from financing actions       Dividends paid         -2,352.1         -2,190.6         -2,221.1 Capital improve of the father or mother firm         5.8         129.7         60.0 Disposal (acquisition) of Treasury shares         -10,060.9         —         -747.3 Purchase of non-controlling pursuits         —         —         — Issuance (reimbursement) of short-term loans         3,939.4         -74.8         -354.9 Issuance of long-term borrowings         —         —         — Repayment of long-term borrowings         —         -3.6         -0.6 Repayment of lease debt         -396.4         -451.8         -425.8 Net money from financing actions (C)         -8,864.2         -2,591.1         -3,689.6 Net impact of adjustments in trade charges and truthful worth (D)         77.4         -103.2         10.5 Change in money and money equivalents (A+B+C+D)         -3,692.1         1,119.9         1,294.0 Cash and money equivalents at starting of the yr (E)         6,405.9         5,286.0         3,992.0 CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (A+B+C+D+E)         2,713.8         6,405.9         5,286.0          1 Like-for-like: primarily based on a comparable construction and an identical trade charges.2 Diluted earnings per share, primarily based on internet revenue, excluding non-recurring objects, after non-controlling pursuits.3 Proposed on the Annual General Meeting of 21 April 2022.4 SAPMENA – SSA: South Asia Pacific, Middle East, North Africa, Sub-Saharan Africa 5 Sales on our manufacturers’ personal web sites + estimated gross sales by our manufacturers by way of retailer web sites (non-audited information).6 Like-for-like: primarily based on a comparable construction and an identical trade charges. 7 SAPMENA – SSA: South Asia Pacific, Middle East, North Africa, Sub-Saharan Africa 8 SAPMENA – SSA: South Asia Pacific, Middle East, North Africa, Sub-Saharan Africa  9 Non-allocated = Central Group bills, basic analysis bills, free grant of shares bills and miscellaneous objects. 10 Diluted earnings per share, primarily based on internet revenue, excluding non-recurring objects, after non-controlling pursuits.11 Non-recurring objects embody impairment of belongings, internet revenue of discontinued operations, restructuring prices and tax results of non-recurring objects.12 Net money movement = Gross money movement + adjustments in working capital – capital expenditure.    

LOREAL_AnnualResults_2021_EN

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