L'Oreal Fund for Women: already EUR30.8 million allocated to support over 1.2 million women in vulnerable situation throughout the world.

- Strong sales growth,

- Another year of outperformance

- in all Divisions and all Zones

- Strong improvement in operating margin

- Strengthened social and environmental contribution

- Sales: 38.26 billion euros, +18.5% reported, +10.9% like-for-like1; a comparable increase of +23.4% vs 2019.

- Strengthening global leadership in the beauty market.

- Well-balanced growth between volume and value. 28% of sales in e-commerce.

- Strong improvement in operating margin: 19.5% (+40 bps); operating profit: 7,456.9 million euros.

- Earnings per share2: 11.26 euros, up by +27.6%.

- Dividend3: 6.00 euros.

- Third employee share ownership plan successfully rolled out in more than 60 countries.

- L'Oreal For Youth: 25,000 work opportunities per year for under-30s.

Solidarity Sourcing programme benefiting 85,000 workers from discriminated communities.

Sustainability leader: only company in the world to have been awarded a 'AAA' rating by CDP for seven years in a row; platinum medal by EcoVadis, which ranked L'Oreal in the global top 1% of best companies in terms of environmental and social performance.

Named for the 13th year as one of the world's most ethical companies by Ethisphere.

Commenting on the figures, Nicolas Hieronimus, CEO of L'Oreal, said: 'We achieved a remarkable performance this year, thanks to our innovation leadership, our highly desirable brands, our operational agility and the tremendous commitment of our teams. Comparable growth vs. 2019 accelerated quarter after quarter and reached +23% over the full year. Our balanced growth across Divisions and regions once again demonstrates the relevance of our multipolar model: strategically centralised and operationally decentralised with a strong entrepreneurial mindset, this model is ideally suited to the current environment. We have emerged stronger from 2022 and reinforced our position as the world's leading beauty company. These high-quality results allow us to consistently support our social and environmental commitments, in line with our dual ambition of economic and corporate performance. Mindful of the current uncertainties, we remain ambitious for the future, optimistic about the outlook for the beauty market, and confident in our ability to keep outperforming the market and achieve in 2023 another year of growth in sales and profits.'

Composition of the Board of Directors and its Committees

Meeting on 9 February 2023, under the chairmanship of Jean-Paul Agon, the Board of Directors decided to propose to the Annual General Meeting of 21 April 2023 the renewal of the tenure of Ms Sophie Bellon and Ms Fabienne Dulac as directors for a term of four years.

If the Annual General Meeting approves the proposed resolutions, the Board of Directors will continue to comprise 16 directors, i.e. 14 directors appointed by the AGM and two directors representing the employees.

The balance in terms of independence and gender mix will remain unchanged:

Seven independent directors out of 14 directors appointed by the AGM, i.e. 50%;

Seven women and seven men out of 14 directors appointed by the AGM, i.e. parity of 50%.

The Board decided to review the composition of the Committees, which is set out in detail in the table below. This will take effect at the end of the Annual General Meeting, subject to renewal of the tenures as directors of Ms Sophie Bellon and Ms Fabienne Dulac.

Projected composition of the Board and Committees at the end

of the Annual General Meeting to be held on 21 April 2023

(C) 2023 Electronic News Publishing, source ENP Newswire