LOREAL_Registration_Document_2017
Presentation of the Group Integrated report GOOD GROWTH MOMENTUM FOR SHARED, LASTING DEVELOPMENT*
BY GEOGRAPHIC ZONE The finalisation, on 7 September 2017, of the disposal of The Body Shop leads to account for the businesses sold, for 2017, in accordance with the IFRS 5 accounting rule on discontinued operations.
1
2017
2015 (1)
2016
€ millions % sales
€ millions
% sales € millions
% sales
Western Europe (1)
1,800 22.6% 1,832 22.9% 1,860 22.9% 1,257 18.9% 1,392 19.6% 1,411 19.2% 1,919 19.9% 1,936 19.7% 2,144 20.3% 4,976 20.5% 5,160 20.7% 5,415 20.8%
North America New Markets (1)
COSMETICS ZONES TOTAL
Non-allocated (2)
-643
-2.6% -654
-2.6% -739
-2.8%
TOTAL GROUP AFTER NON-ALLOCATED 4,333 17.8% 4,506 18.1% 4,676 18.0% As of July 1 st , 2016, the Asian Travel Retail business of the Consumer Products Division, previously recorded under the Western Europe Zone, was transferred to the Asia, (1) Pacific Zone. All figures for earlier periods have been restated to allow for this change. Non-allocated items consist of the expenses of Functional Divisions and fundamental research, stock option and free grant of shares costs, which are not allocated to the (2) Cosmetics Divisions. This item also includes non-core activities, such as insurance, reinsurance and banking.
Profitability in Western Europe at 22.9%, is at an identical level to that of 2016. In North America, profitability came out at 19.2%, slightly lower than 2016.
And in the New Markets, profitability strongly increased and exceeded, for the first time, 20% of sales.
Sales of the cosmetics branch by business segment CONSOLIDATED SALES
2016/2017 progression
2017 Like-for-like Reported figures
2015 7,190 5,784 4,782 3,091 2,376 1,067
2016 7,089 6,576 4,779 3,021 2,367 1,085
€ millions Skincare Make-up Haircare
7,624
+7.6%
+7.5%
7,266 +10.2%
+10.5% -4.6% +1.8% +1.1% +2.0% +4.4%
4,559 3,076 2,393 1,107
-3.2% +2.0% +2.1% +1.2%
Hair colourants
Perfumes Other (1)
TOTAL COSMETICS SALES
24,290 24,916
26,024 +4.8%
“Other” includes hygiene products, sales made by American distributors with non-Group brands. (1)
Simplified consolidated income statements
31.12.2017 % 2017 sales
31.12.2015 31.12.2016 25,257.4 25,837.1 17,980.0 18,495.4
€ million
Sales
26,023.7 18,664.5
100.0% 71.7%
Gross profit
Research and development Advertising and promotion
-794.1
-849.8
-877.1
3.4%
-7,359.6 -5,438.6 4,387.7 4,194.3
-7,498.7 -5,607.0 4,539.9 3,996.1
-7,650.6 -5,460.5 4,676.3 4,400.0
29.4% 21.0% 18.0%
Selling, general and administrative expenses
Operating profit Operational profit
Finance costs excluding dividends received
-13.8 336.9
-19.3 346.5
-22.9 350.0 -901.3
Sanofi dividends
Income tax
-1,222.9
-1,214.6
Non-controlling interests
-1.1
-2.9
-4.1
Impact of deconsolidation of The Body Shop * Net profit attributable to owners of the company Non-recurring items (expense -/income +)
-240.1
3,297.4
3,051.7
3,581.4
13.8%
-192.4
-541.5
-167.2
Net profit excluding non-recurring items after non-controlling interests ** Diluted earnings per share attributable to owners of the company (euros) Diluted earnings per share attributable to owners of the company excluding non-recurring items (euros)
3,489.8
3,647.2
3,748.7
14.4%
5.84
5.50
6.36
6.18 6.65 The finalisation of the disposal of The Body Shop on 7 September 2017 lead to the application, in 2017, of IFRS 5 for discontinued operations. * Net profit excluding non-recurring items excludes asset depreciations, restructuring costs, tax effects and minority interests of continuing activities. ** 6.46
REGISTRATION DOCUMENT / L'ORÉAL 2017
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