L'Oréal - 2018 Registration Document

Contents

5 PARENT COMPANY FINANCIAL STATEMENTS*

1 PRESENTATION OF THE GROUP INTEGRATED REPORT

5

305

The L’Oréal Group: fundamentals 1.1.

Compared income statements 5.1. Compared balance sheets 5.2. Changes in shareholders' equity 5.3.

6

306 307 308 309 310

Business model - A development model serving a clear 1.2. mission: beauty for all

10

Good growth momentum for shared, 1.3. lasting development*

Statements of cash flows 5.4.

27 44 45

Notes to the parent company financial statements 5.5. Other information relating to the financial statements 5.6. of L’Oréal parent Company Investments (main changes including shareholding 5.8. threshold changes) Statutory Auditors’ report on the financial statements 5.9. Five-year financial summary 5.7.

An organisation that serves the Group’s development 1.4. Internal Control and risk management system 1.5.

330 332

2 CORPORATE GOVERNANCE* Framework for the implementation of corporate 2.1. governance principles

47

333 333

48 51

6 STOCKMARKET INFORMATION SHARE CAPITAL Information relating to the Company 6.1.

Composition of the Board of Directors 2.2.

Organisation and modus operandi of the Board of 2.3. Directors Remuneration of the members of the Board of Directors 2.4.

339

70 88 90

340 342 345 348 353 359

Remuneration of the executive officers 2.5. Summary table of the recommendations of 2.6.

Information concerning the share capital* 6.2.

Shareholder structure* 6.3. Long-term incentive plans* 6.4.

the AFEP-MEDEF Code which have not been applied Summary statement of trading by the corporate officers 2.7. in L’Oréal shares in 2018

108

The L’Oréal share/L’Oréal share market 6.5.

109 109 141

Information policy 6.6.

Risk factors and control environment 2.8.

Statutory Auditors’ Report 2.9.

7 ANNUAL GENERAL MEETING

3 L’ORÉAL’S CORPORATE SOCIAL, ENVIRONMENTAL AND SOCIETAL RESPONSIBILITY*

361

Draft resolutions and report of the Board of Directors 7.1.

(explanatory statement) to the Ordinary and Extraordinary General Meeting to be held on 18 April 2019 (adopted on 7 February 2019) 362 Statutory Auditors' Reports 7.2. 377

143

Introduction 3.1.

144 150 153 219 221 225 231

Main non-financial risks 3.2.

Policies, perfor mance indicators and results 3.3. Sharing Beauty With All: 2018 results 3.4.

8 APPENDICES Statutory Auditors 8.1.

379

Methodological notes 3.5. Cross-reference tables 3.6. Statutory Auditors’ Reports 3.7.

380 380

Historical financial information included by reference 8.2. Person responsible for the Registration Document 8.3. and the Annual Financial Report 381 Declaration by the person responsible for the Registration 8.4. Document and the Annual Financial Report* 381 Cross-reference table with the Registration Document 8.5. 382 Annual Financial Report cross-reference table 8.6. 384 Cross-reference table with the amf tables 8.7. on the remuneration of corporate officers 384 Management Report cross-reference table 8.8. 385

4 2018 CONSOLIDATED FINANCIAL STATEMENTS*

235 236

Compared consolidated income statements 4.1. Consolidated statement of comprehensive income 4.2. Compared consolidated balance sheets 4.3. Consolidated statements of changes in equity 4.4. Compared consolidated statements of cash flows 4.5. Notes to the consolidated financial statements 4.6. Consolidated companies at 31 December 2018 4.7. Statutory auditors’ report on the consolidated financial 4.8. statements

237 238 239 240 242 243 297

300

Detailed chapter contents can be found at the beginning of each chapter. * This information forms an integral part of the Annual Financial Report as provided in the Article L. 451-1-2 of the French Monetary and Financial Code.

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