LOREAL_Registration_Document_2017

1 Presentation of the Group Integrated report

GOOD GROWTH MOMENTUM FOR SHARED, LASTING DEVELOPMENT*

Sources and application of funds

Investments in property, plant and equipment and intangible assets

Net profit attributable to owners of the company

3,581.4

1,263.5

Amortisation and provisions

Operating cash flow

1,218.6

3,969.8

Capital gain or losses on disposals of assets, changes in deferred taxes and other

Changes in working capital requirement

172.1

-261.2

Sources

Applications

Gross cash flow = 4,972.1

Financial ratios

2017 18.0%

2015

2016

(% of sales) Operating profit/Sales

17.4%

17.6%

(% of shareholders’ equity) Net profit excluding non-recurring items after non-controlling interests/Opening shareholders’ equity

17.3%

15.4%

15.1%

(% of shareholders’ equity) Net gearing (1)

n/a

n/a

n/a

Gross cash flow/Investments

3.8x

3.4x

3.9x

(1) Net gearing: Current and non-current debt – Cash and cash equivalents / Shareholders’ equity after non-controlling interests

REGISTRATION DOCUMENT / L'ORÉAL 2017

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