Consolidated profit and loss accounts: from operating profit to net profit excluding non-recurring items:
| € millions | 2019 | 2020 | 2021 | Evolution |
|---|---|---|---|---|
| Operating profit | Operating profit20195,547.5 | Operating profit20205,209.0 | Operating profit20216,160.3 | Operating profitEvolution+18.3% |
| Financial revenues and expenses excluding Sanofi dividends |
Financial revenues and expenses excluding Sanofi dividends2019 -62.7 |
Financial revenues and expenses excluding Sanofi dividends2020 -95.9 |
Financial revenues and expenses excluding Sanofi dividends2021 -59.6 |
Financial revenues and expenses excluding Sanofi dividendsEvolution
|
| Sanofi dividends |
Sanofi dividends 2019363.0 |
Sanofi dividends 2020372.4 |
Sanofi dividends 2021378.3 |
Sanofi dividends Evolution
|
| Profit before tax excluding non-recurring items |
Profit before tax excluding non-recurring items 20195,847.9 |
Profit before tax excluding non-recurring items 20205,485.5 |
Profit before tax excluding non-recurring items 20216,478.9 |
Profit before tax excluding non-recurring items Evolution+18.1% |
| Income tax excluding non-recurring items |
Income tax excluding non-recurring items2019 -1,486.7 |
Income tax excluding non-recurring items2020 -1,383.1 |
Income tax excluding non-recurring items2021 -1,535.6 |
Income tax excluding non-recurring itemsEvolution
|
|
Net profit excluding non-recurring items of equity consolidated companies |
Net profit excluding non-recurring items of equity consolidated companies 2019+1.0 |
Net profit excluding non-recurring items of equity consolidated companies 2020+0.9 |
Net profit excluding non-recurring items of equity consolidated companies 2021+0.6 |
Net profit excluding non-recurring items of equity consolidated companies Evolution
|
| Non-controlling interests |
Non-controlling interests2019 5.4 |
Non-controlling interests2020 -4.2 |
Non-controlling interests2021 -5.5 |
Non-controlling interestsEvolution
|
| Net profit excluding non-recurring items after non-controlling interests | Net profit excluding non-recurring items after non-controlling interests20194,356.9 | Net profit excluding non-recurring items after non-controlling interests20204,099.0 | Net profit excluding non-recurring items after non-controlling interests20214,938.5 | Net profit excluding non-recurring items after non-controlling interestsEvolution+20.5% |
| EPS(1) (€) |
EPS (1)(€) 20197.74 |
EPS (1)(€) 20207.30 |
EPS (1)(€) 20218.82 |
EPS (1)(€) Evolution+20.9% |
| NET PROFIT AFTER NON-CONTROLLING INTERESTS |
NET PROFIT AFTER NON-CONTROLLING INTERESTS2019 3,750.0 |
NET PROFIT AFTER NON-CONTROLLING INTERESTS2020 3,563.4 |
NET PROFIT AFTER NON-CONTROLLING INTERESTS2021 4,597.1 |
NET PROFIT AFTER NON-CONTROLLING INTERESTSEvolution +29.0% |
| Diluted EPS after non-controlling interests (€) |
Diluted EPS after non-controlling interests (€) 20196.66 |
Diluted EPS after non-controlling interests (€) 20206.34 |
Diluted EPS after non-controlling interests (€) 20218.21 |
Diluted EPS after non-controlling interests (€) Evolution
|
| Diluted average number of shares |
Diluted average number of shares 2019562,813,129 |
Diluted average number of shares 2020561,635,963 |
Diluted average number of shares 2021559,791,545 |
Diluted average number of shares Evolution
|
Net finance costs amounted to 59 million euros.
Sanofi dividends amounted to 378 million euros.
Income tax excluding non-recurrent items amounted to 1,535 million euros, representing a tax rate of 23.7%.
Net profit excluding non-recurring items after non-controlling interests amounted to 4,938 million euros.
Earnings per share(1), at 8.82 euros, increased by 20.9%.
Non-recurring items after non-controlling interests(2) amounted to 341.4 million euros net of tax.
Net profit after non-controlling interests came out at 4,597 million euros, increasing by 29.0%.
Gross cash flow amounted to 6,640 million euros, an increase of 16%.
The working capital requirement decreased by 88 million euros.
At 1,075 million euros, investments represented 3.3% of sales.
Net cash flow(3) at 5,653 million euros, increased by 3.1%.
The balance sheet remains solid, with shareholders’ equity amounting to 23.6 billion euros. On 7 December 2021, L’Oréal repurchased from Nestlé 22,260,000 of its own shares. At the end of December 2021, the net debt of the Group amounted to 3,586 million euros, including 1,670 million euros of finance lease liabilities.
The Board of Directors has decided to propose to the shareholders’ Annual General Meeting of 21 April 2022 a dividend of 4.80 euros per share, an increase of +20.0% compared with the dividend paid in 2021. The dividend will be paid on 29 April 2022 (ex-dividend date 27 April at 0:00 a.m., Paris time).
At 31 December 2021,the capital of the company was formed by 557,672,360 shares. As of 10 February 2022, the capital is formed by 535,412,372 shares, each with one voting right.
| 2019 | 2020 | 2021 | ||||
|---|---|---|---|---|---|---|
| € millions | % 2019 sales | € millions | % 2020 sales | € millions | % 2021 sales | |
| Professional Products | 691 | 20.1% | 582 | 18.8% | 807 | 21.3% |
| Consumer Products | 2,575 | 20.2% | 2,388 | 20.4% | 2,466 | 20.2% |
| L’Oréal Luxe | 2,494 | 22.6% | 2,276 | 22.4% | 2,816 | 22.8% |
| Active Cosmetics | 621 | 23.3% | 766 | 25.4% | 991 | 25.2% |
| DIVISIONS TOTAL | 6,381 | 21.4% | 6,012 | 21.5% | 7,080 | 21.9% |
| Non-allocated(1) | 833 | -2.8% | -803 | -2.9% | -920 | -2.8% |
| GROUP | 5,548 | 18.6% | 5,209 | 18.6% | 6,160 | 19.1% |
The profitability of the Professional Products Division came out at 21.3% in 2021, an improvement of 250 basis points.
The profitability of the Consumer Products Division, at 20.2%, decreased by 20 basis points. The profitability of L’Oréal Luxe improved by 40 basis points, at 22.8%.
The profitability of the Active Cosmetics Division came out at 25.2%, a decrease of 20 basis points.
Non-allocated expenses amounted to 919.4 million euros.
