2015 Annual Results. Mr. Christian Mulliez. February 12 th, Chief Financial Officer

Transcription

1 2015 Annual Results February 12 th, 2016 Mr. Christian Mulliez Chief Financial Officer

2 2015 consolidated group sales Consolidated sales at the end of December 22.53Bn 25.26Bn Growth at constant exchange rates +4.9% of which: like-for-like growth +3.9% external growth impact +1.0% Exchange rate impact +7.2% Reported growth +12.1%

3 Changes in exchange rates (against the euro) Weight in 2015 consolidated sales Average rate 2014 Average rate 2015 Change Euro 25.0% US Dollar 26.2% % Chinese Yuan 8.5% % Sterling Pound 6.8% % Brazilian Real 2.9% % Canadian Dollar 2.7% % Russian Ruble 2.2% % Japanese Yen (1000) 1.7% % Mexican Peso 1.6% % 3

4 2015 consolidated sales (in million euros) Like-for-like % change At constant exchange rates Reported Professional Products % +4.3% +12.1% Consumer Products % +4.3% +10.0% L'Oréal Luxe % +6.1% +16.7% Active Cosmetics % +7.8% +9.4% Divisions Total % +5.1% +12.2% The Body Shop % +1.1% +10.7% Consolidated Total % +4.9% +12.1% 4

5 2015 cosmetics divisions sales by region (in million euros) Like-for-like % change At constant exchange rates Reported Western Europe % +2.6% +4.5% North America % +4.8% +23.5% New Markets % +7.5% +11.9% Divisions Total % +5.1% +12.2% 5

6 2015 cosmetics divisions sales by region Million euros Like-for-like % change At constant exchange rates Reported Asia, Pacific % +5.3% +19.7% - of which Asia, Pacific excl. Japan % +5.2% +20.5% Latin America % +10.6% +0.9% Eastern Europe % +9.8% -3.5% Africa, Middle-east % +12.3% +28.1% Total New Markets % +7.5% +11.9% 6

7 2015 cosmetics divisions sales by business segment Million euros Weight Like-for-like % Change Skincare % +2.0% Make-up % +10.9% Hair Care % +2.4% Hair Colour % -0.1% Perfumes % +6.2% 7

8 Consolidated profit and loss account: From sales to operating profit (in million euros) 2014 As a % of sales 2015 As a % of sales Change 2015 / 2014 Sales % % +12.1% Cost of sales % % Gross profit % % +12.2% Research and development expenses % % Advertising and promotion expenses % % Selling, general & administrative expenses % % Operating profit % % +12.8% 8

9 Operating profit margin by division (as a % of sales) Professional Products 20.5% 20.1% 20.0% Consumer Products 19.9% 20.3% 20.1% L Oréal Luxe 20.0% 20.5% 20.7% Active Cosmetics 21.7% 22.7% 22.8% Total divisions before non-allocated expenses 20.2% 20.5% 20.5% Non allocated expenses* -2.8% -2.8% -2.6% Total divisions after non-allocated expenses 17.3% 17.7% 17.8% The Body Shop 8.6% 7.5% 5.7% Group 17.0% 17.3% 17.4% * Central group expenses, fundamental research expenses, stock-option & free grant of shares expenses and miscellaneous items, as a % of total cosmetics divisions sales 9

10 Cosmetics divisions operating margin by region (as a % of sales) Western Europe 22.3% 22.7% 22.7% North America 18.7% 18.7% 18.9% New Markets 19.2% 19.6% 19.7% Total regions* 20.2% 20.5% 20.5% * Before non-allocated 10

11 Consolidated profit and loss account: From operating profit to net profit excluding non-recurring items (in million euros) Change 2015 / 2014 Operating profit % Financial revenues-expenses before dividends received Sanofi dividends Profit before tax and associates, before non-recurring items % Income tax excluding non-recurring items Share of profit of associates, excluding non-recurring items Non-controlling interests Net profit from continuing operations, excl. nonrecurring items, after non-controlling interests Earnings per share* (in euros) % Diluted average number of shares * Diluted earnings per share based on net profit from continuing operations excluding non-recurring items, after non-controlling interests 11

12 Consolidated profit and loss account: From net profit excluding non-recurring items to net profit (in million euros) Net profit from continuing operations excluding non-recurring items* Non-recurring items of which: - other income and expenses taxes on non-recurring items Change 2015 / 2014 Net profit from continuing operations* % Net profit from discontinued operations Net profit* * after non-controlling interests 12

13 (in million euros) Net profit Depreciation, amortisation and provisions Capital gains and losses on disposals of assets, changes in deferred taxes and others Net profit of discontinued operations Share of profit of associates, net of dividends received Cash flow statement Change 2015 / 2014 Cash flow % Changes in working capital Investments Operating net cash % Dividends paid Acquisitions Discontinued operations: disposals & dividends received Acquisitions of treasury stock Capital increase Others* Residual cash flow after acquisitions * Including sale of treasury stock and disposals 13

14 Assets Balance sheet (in billion euros) Liabilities 31 st Dec st Dec st Dec st Dec Non-current assets 23.3 Shareholders 24.5 equity Current assets Cash & cash equivalents Total Assets Non-current liabilities Financial debt (current & non-current) Current liabilities Total Liabilities

15 Net cash - net debt and gearing in million euros 31 st Dec in million euros 31 st Dec Net debt 671 Net cash 618 Gearing* 3.3% Gearing* N.A. * Net debt - equity attributable to owners of the company 15

16 Dividend from 1997 to 2015 (in euros) 2015 dividend per share 3.10* +14.8% * Loyalty Bonus +10%* Dividend increase for shareholders who have continuously held shares in registered form for at least two years * Proposed at the shareholders meeting to be held on April 20 th, dividend paid in 2016: pay-out of the 10% loyalty bonus (preferential dividend of 10%) for shares held in registered form since

17 Payout ratio from 1997 to 2015 as a % of net profit* 50.2%** 48.7% 43.9% 44.9% 46.3% 46.8% 50.6% 41.1% 41.3% 38.5% 39.6% 35.7% 36.0% 36.6% 36.8% 33.6% 29.1% 30.2% 31.6% * Taking into account the Sanofi history with regards to the dividends ** Based on the dividend proposed at the shareholders meeting to be held on April 20 th,

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