LOREAL_Registration_Document_2017
Presentation of the Group Integrated report GOOD GROWTH MOMENTUM FOR SHARED, LASTING DEVELOPMENT*
L’Oréal 2011-2017 The announcement on February 11 th , 2014, of the disposal of 50% of Galderma leads to account for this business in accordance with IFRS 5 accounting rule on discontinued operations. In accordance with IFRS 11 accounting rule, Innéov has been consolidated under the equity method as of January 1 st , 2014. All figures for earlier periods have been restated accordingly.
1
2017
€ millions
2011 (1)
2012 (1)
2013 (8)
2014 (8)
2015
2016
Results Consolidated sales
20,343 3,293 16.2%
21,638 3,558 16.4%
22,124 3,760 17.0%
22,532 3,891 17.3%
25,257 4,388 17.4%
25,837 4,540 17.6%
26,023 4,676 18.0%
Operating profit
As a percentage of consolidated sales
Profit before tax excluding non-recurring items
3,563
3,874
4,056
4,198
4,711
4,867
5,003
Net profit excluding non-recurring items after non-controlling interest (2) Net profit attributable to owners of the company
2,583
2,861
3,032
3,125
3,490
3,647
3,748
2,438 1,212
2,868 1,380
2,958 1,507
4,910 1,511
3,297 1,742
3,106 1,868
3,581 2,006
Total dividend
Balance sheet Non-current assets
19,141
20,903
21,485
23,284
24,458
25,585
24,320
Current assets excl. cash and cash equivalents Cash and cash equivalents
6,070 1,652
6,096 2,235
6,730 2,659
6,858 1,917
7,854 1,400
8,300 1,746
7,972 3,047
Equity (3)
17,627
20,925 -1,948
22,651 -2,320
20,197
23,617
24,504
24,819 -1,872
Net current and non-current debt (4)
-504
671
-618
-481
Gross cash flow
3,226
3,507
3,758
3,808
4,399
4,717
4,972
Per share data (euros) Diluted earnings per share attributable to owners of the company excluding non-recurring items (2) Share price at December 31 st (7) Highest share price during the year (7) Lowest share price during the year (7) Diluted weighted average number of shares outstanding (7) Dividend
4.32 2.00
4.73 2.30
4.99 (5)
5.34 2.70
6.18 3.10
6.46 3.30
6.65
2.50
3.55 (6) 184.95 197.15 167.75
80.70 91.24 68.83
104.90 106.40
127.70 137.85 103.65
139.30 140.40 114.55
155.30 181.30 133.40
173.40 177.90 142.65
79.22
597,633,103 605,305,458 608,001,407 585,238,674 564,891,388 564,509,135 563,528,502
The 2011 and 2012 balance sheets have been restated to allow for the change in accounting method relating to revised IAS 19. (1) For 2012, 2013, 2014 and 2015 it is the net profit from continuing operations. (2) Plus non-controlling interests. (3) The net cash surplus is €504 million in 2011, €1,948 million in 2012, €2,320 million in 2013, €618 million in 2015, €481 million in 2016 and 1,872 M€ in 2017. In 2014, (4) net debt is €671 million. Net profit to owners of the company per share, excluding non-recurring items, published on December 31 st , 2013 was €5.13. (5) Dividend proposed to the Annual General Meeting of April 17 th , 2018. (6) The L’Oréal share has been listed in euros on the Paris Stock Exchange since January 4 th , 1999, where it was first listed in 1963. The share capital is €112,103,817.60 (7) at December 31 st , 2017; the par value of one share is €0.2. The balance sheets at December 31 st , 2013 and December 31 st , 2014 have been restated to reflect the change in accounting policies on recognition of levies resulting (8) from the application of IFRIC 21.
Significant, recent events and prospects 1.3.1.4. Significant events of 2017 On 10 January, L’Oréal announced the signing of a s definitive agreement with Valeant to acquire the brands CeraVe, AcneFree and Ambi. The acquisition of these brands completes and strengthens the Active Cosmetics Division’s positions in the United States, enabling it to meet growing demand for active skincare products at accessible prices. The acquisition was finalised on 6 March 2017. Between 13 February and 15 March, L'Oréal bought back s 2,846,604 of its shares in order to cancel them, in
accordance with the authorisation voted by the Annual General Meeting of 20 April 2016, and with the decision of the Board of Directors on 9 February 2017. On 20 April 2017, the Annual General Meeting of L’Oréal s appointed Mr Paul Bulcke as a Director, and renewed the tenure as Directors of Mrs Françoise Bettencourt Meyers and Mrs Virginie Morgon. Furthermore, the Annual General Meeting decided on the distribution of a dividend of €3.30 per share, with a payment date of 3 May 2017.
REGISTRATION DOCUMENT / L'ORÉAL 2017
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