Loreal 2014 Annual Report Download - page 13

Download and view the complete annual report

Please find page 13 of the 2014 Loreal annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 60

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60

Pay-out ratio as % (7) n n Dividend per share (in euros)
A dynamic shareholder return policy
(at December 31st, 2014)
With shareholders’ equity amounting to
20billion euros, L’Oréal’s balance sheet
remains particularly solid, after the pur-
chase of 8% of the capital from Nestlé for
6 billion euros.
2014 2014
2014 2014
2012 2012
2012 2012
2013 2013
2013 2013
3,891
3,125
4,910 5.34
3,760
3,032
2,958 4.99
3,558
2,861
2,868 4.73
OPERATING PROFIT
(in millions of euros) NET PROFIT EXCLUDING
NON-RECURRING ITEMS
AFTER NON-CONTROLLING
INTERESTS(1)
(in millions of euros)
NET PROFIT AFTER NON-
CONTROLLING INTERESTS
(in millions of euros)
NET EARNINGS
PER SHARE(2)
(in euros)
The quality of the balance sheet, financial performance
and prospects of L’Oréal led the Board of Directors to
propose at the Annual General Meeting of sharehold-
ers a dividend of 2.70 euros(4), an increase of +8%.
The pay-out ratio in 2014 amounted to 50.6%(5).
Moreover, L’Oréal shareholders receive a loyalty
bonus for holding their shares in registered form: a
preferential dividend of +10%(6), bringing the total to
2.97 euros.
€78.18 bn
Market capitalisation(3)
€139.30
Share price
(1) Net profit excluding non-recurring items after non-controlling interests does not include impairment of assets, restructuring costs, tax effects or non-controlling
interests. (2) Diluted net earnings per share excluding non-recurring items after non-controlling interests. (3) On the number of shares at December 31st, 2014, i.e.
561,230,389. (4) Dividend proposed at the Annual General Meeting on April 22
nd, 2015. (5) Based on the dividend proposed at the Annual General Meeting on
April22
nd,2015. (6) For shareholders who continuously hold their shares in registered form for a minimum of two full calendar years, up to a maximum of 0.5% of
the capital for the same shareholder. (7) Pay-out ratio based on diluted net profit excluding non-recurring items, after non-controlling interests, per share.
Record operating margin and strong
increase in net profit A solid balance sheet
17.3%
of sales
+10%(6)
loyalty
bonus
2009
1.50
43.9% 44.9% 46.3% 46.8% 48.7% 50.6%(5)
1.80 2.00 2.30 2.50 2.70(4) +8.0%
2.97
2010 2011 2012 2013 2014
4.5%
OF SALES
CAPITAL EXPENDITURE
63%
OF TOTAL ASSETS
SHAREHOLDERS’
EQUITY
+6.9%
AT 2.9 BILLION EUROS
NET CASH FLOW
DIVIDEND PER SHARE
(in euros)
10
11