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2021 UNIVERSAL REGISTRATION DOCUMENT
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TABLE OF CONTENT
- 2
- 1. Presentation of...1. Presentation of the Group integrated report1. Presentation of the Group integrated report - Page 5
page 5 TO 52
- 1.1. The...61.1. The L’Oréal Group: the fundamentals1.1. The L’Oréal Group: the fundamentals - page6
- 1.2. Business model: Economic and corporate excellence to...141.2. Business model: Economic and corporate excellence to create lasting value for all1.2. Business model: Economic and corporate excellence to create lasting value for all - page14
- 1.3.2021 Financial Results...361.3.2021 Financial Results and Corporate Social Responsibility commitments1.3.2021 Financial Results and Corporate Social Responsibility commitments - page36
- 1.4. An...501.4. An organisation serving the Group’s development1.4. An organisation serving the Group’s development - page50
- 1.5. Internal...511.5. Internal Control and risk management system1.5. Internal Control and risk management system - page51
- 2.1. Framework for the...542.1. Framework for the implementation of corporate governance principles2.1. Framework for the implementation of corporate governance principles - page54
- 2.2. Composition...572.2. Composition of the Board of Directors2.2. Composition of the Board of Directors - page57
- 2.3. Organisation and modus operandi...752.3. Organisation and modus operandi of the Board of Directors2.3. Organisation and modus operandi of the Board of Directors - page75
- 2.4. Remuneration...962.4. Remuneration of directors and corporate officers2.4. Remuneration of directors and corporate officers - page96
- 2.5. Summary table of the recommendations of the AFEP–MEDEF Code...1272.5. Summary table of the recommendations of the AFEP–MEDEF Code which have not been applied2.5. Summary table of the recommendations of the AFEP–MEDEF Code which have not been applied - page127
- 2.6. Summary statement of trading by directors and corporate officers...1282.6. Summary statement of trading by directors and corporate officers in L’Oréal shares in 20212.6. Summary statement of trading by directors and corporate officers in L’Oréal shares in 2021 - page128
- 2.7. Statutory auditors’...1282.7. Statutory auditors’ special report on regulated agreements2.7. Statutory auditors’ special report on regulated agreements - page128
- 3. Risk...3. Risk factors and control environment3. Risk factors and control environment - Page 133
page 133 TO 168
- 3.1. Definition...1343.1. Definition and objectives of Internal Control3.1. Definition and objectives of Internal Control - page134
- 3.2. Components of the Internal...1353.2. Components of the Internal Control and Risk Management system3.2. Components of the Internal Control and Risk Management system - page135
- 3.3. Systems relating to the preparation and...1413.3. Systems relating to the preparation and processing of financialand accounting information3.3. Systems relating to the preparation and processing of financialand accounting information - page141
- 3.4. Vigilance...1443.4. Vigilance Plan3.4. Vigilance Plan - page144
- 3.5. Risk...1583.5. Risk factors and risk management3.5. Risk factors and risk management - page158
- 4. L’Oréal’s social,...4. L’Oréal’s social, environmental and societal responsibility4. L’Oréal’s social, environmental and societal responsibility - Page 169
page 169 TO 282
- 4.2. Main...1774.2. Main non-financial risks4.2. Main non-financial risks - page177
- 4.3. Policies,...1794.3. Policies, performance indicators and results4.3. Policies, performance indicators and results - page179
- 4.4. L’Oréal...2584.4. L’Oréal for the Future: 2021 results4.4. L’Oréal for the Future: 2021 results - page258
- 4.5. Methodological...2604.5. Methodological notes4.5. Methodological notes - page260
- 4.6. Cross-reference tables,...2674.6. Cross-reference tables, including NFIS and GHG footprint4.6. Cross-reference tables, including NFIS and GHG footprint - page267
- 4.7. Statutory...2744.7. Statutory Auditor's reports4.7. Statutory Auditor's reports - page274
- 5. 2021...5. 2021 Consolidated financial statements5. 2021 Consolidated financial statements - Page 283
page 283 TO 346
- 5.1. Compared...2855.1. Compared consolidated income statements5.1. Compared consolidated income statements - page285
- 5.2. Consolidated...2865.2. Consolidated statement of comprehensive income5.2. Consolidated statement of comprehensive income - page286
- 5.3. Compared...2875.3. Compared consolidated balance sheets5.3. Compared consolidated balance sheets - page287
- 5.4. Consolidated...2885.4. Consolidated statements of changes in equity5.4. Consolidated statements of changes in equity - page288
- 5.5. Compared...2905.5. Compared consolidated statements of cash flows5.5. Compared consolidated statements of cash flows - page290
- 5.6. Notes...2915.6. Notes to the consolidated financial statements5.6. Notes to the consolidated financial statements - page291
- 5.7. Consolidated...3405.7. Consolidated companies at 31 December 20215.7. Consolidated companies at 31 December 2021 - page340
- 5.8. Statutory Auditors’ report...3435.8. Statutory Auditors’ report on the consolidated financial statements5.8. Statutory Auditors’ report on the consolidated financial statements - page343
- 6. Parent...6. Parent company financial statements6. Parent company financial statements - Page 347
page 347 TO 376
- 6.1. Compared...3486.1. Compared income statements6.1. Compared income statements - page348
- 6.2. Compared...3496.2. Compared balance sheets6.2. Compared balance sheets - page349
- 6.3. Changes...3506.3. Changes in shareholders’ equity6.3. Changes in shareholders’ equity - page350
- 6.4. Statements...3516.4. Statements of cash flows6.4. Statements of cash flows - page351
- 6.5. Notes to the...3526.5. Notes to the financial statements of L’Oréal SA6.5. Notes to the financial statements of L’Oréal SA - page352
- 6.6. Other information relating to the...3686.6. Other information relating to the financial statements of L’Oréal S.A.6.6. Other information relating to the financial statements of L’Oréal S.A. - page368
- 6.7....3706.7. Five-year financial summary6.7. Five-year financial summary - page370
- 6.8. Investments (main...3716.8. Investments (main changes including shareholding threshold changes)6.8. Investments (main changes including shareholding threshold changes) - page371
- 6.9. Statutory Auditors’...3726.9. Statutory Auditors’ report on the financial statements6.9. Statutory Auditors’ report on the financial statements - page372
- 7. Stock...7. Stock market information share capital7. Stock market information share capital - Page 377
page 377 TO 400
- 7.1. Information...3787.1. Information relating to the Company7.1. Information relating to the Company - page378
- 7.2. Information...3807.2. Information concerning the share capital7.2. Information concerning the share capital - page380
- 7.3. Shareholder...3837.3. Shareholder structure7.3. Shareholder structure - page383
- 7.4....3887.4. Long-term incentive plans7.4. Long-term incentive plans - page388
- 7.5. The...3937.5. The L’Oréal share/the share market7.5. The L’Oréal share/the share market - page393
- 7.6. Information...3987.6. Information policy7.6. Information policy - page398
- 8.1. Draft resolutions and Report of the Board of Directors to the Ordinary and Extraordinary General Meeting to be held...4028.1. Draft resolutions and Report of the Board of Directors to the Ordinary and Extraordinary General Meeting to be held on Thursday 21 April 20228.1. Draft resolutions and Report of the Board of Directors to the Ordinary and Extraordinary General Meeting to be held on Thursday 21 April 2022 - page402
- 8.2. Statutory...4258.2. Statutory Auditors’ Reports8.2. Statutory Auditors’ Reports - page425
- 9.1. Statutory...4309.1. Statutory Auditors9.1. Statutory Auditors - page430
- 9.2. Historical...4309.2. Historical financial information included by reference9.2. Historical financial information included by reference - page430
- 9.3. Person responsible for the Universal Registration Document...4309.3. Person responsible for the Universal Registration Document and the Annual Financial Report9.3. Person responsible for the Universal Registration Document and the Annual Financial Report - page430
- 9.4. Declaration by the person responsible for the Universal Registration Document...4319.4. Declaration by the person responsible for the Universal Registration Document and the Annual Financial Report9.4. Declaration by the person responsible for the Universal Registration Document and the Annual Financial Report - page431
- 9.5. Cross-reference table with...4329.5. Cross-reference table with the Universal Registration Document9.5. Cross-reference table with the Universal Registration Document - page432
- 9.6. Annual...4349.6. Annual Financial Report cross-reference table9.6. Annual Financial Report cross-reference table - page434
- 9.7. Cross-reference table with the AMF tables on the remuneration of...4349.7. Cross-reference table with the AMF tables on the remuneration of directors and corporate officers9.7. Cross-reference table with the AMF tables on the remuneration of directors and corporate officers - page434
- 9.8. Management...4359.8. Management Report cross-reference table9.8. Management Report cross-reference table - page435
1. Presentation of the Group integrated report
- 1.1. The L’Oréal Group: the fundamentals
- 1.2. Business model: Economic and corporate excellence to create lasting value for all
- 1.3.2021 Financial Results and Corporate Social Responsibility commitments
- 1.4. An organisation serving the Group’s development
- 1.5. Internal Control and risk management system
1. PRESENTATION OF THE GROUP INTEGRATED REPORT*
*This information forms an intregral part of the Annual Financial Report as provided in Article L.451-1-2 of the French Monetary and Financial Code.
As the sixth edition of L’Oréal’s Integrated Report, this chapter aims to present the well–balanced business model of the L’Oréal Group, its strategic orientations, its 2021 results, its non-financial performance, and its relationships with its stakeholders, particularly in the context of its programme representing its commitments to sustainable development L’Oréal for the Future(1).
