Clichy, Tuesday, 26th March, 2002 - 5.45 pm
The Board of Directors of L'OREAL met on Tuesday, 26th March, 2002 under the chairmanship of Mr Lindsay OWEN-JONES and in the presence of the Statutory Auditors. The Board of Directors closed the group's consolidated financial statements and the financial statements of the parent company, L'OREAL S.A., for 2001.
|.||Millions of euros||Growth 2001/2000|
|Adjusted operating profit (¹)||1,669||+ 12.7%|
|Net profit before capital gains and losses and after minority interests (²)||1,229||+ 19.6%|
|Earnings per share (euro)||1.82||+ 19.6%|
|Net dividend (euro)||0.54||+ 22.7%|
|(¹) Including exchange gains and losses. |
(²) Net profit before capital gains and losses, exceptional items and amortisation of goodwill.
The confirmed 19.6% increase in Net profit before capital gains and losses and minority interests stems from a combination of strong organic growth and further improvement in margins
The audited financial statements confirm the results published on 21st February, 2002. The pre-tax profit of the fully consolidated companies amounted to € 1.5 billion, an increase of 13.6%. This confirms that double-digit growth has been achieved for the seventeenth consecutive year. Net profit before capital gains and losses and after minority interests was over € 1.2 billion, representing an increase of 19.6%.
Substantial rise in dividend (+22.7%), with the payment date again brought forward
At the Annual General Meeting of Shareholders - to be held on Wednesday, 29th May, 2002 from 10.15am to 12.45pm, at UNESCO, 125 avenue de Suffren, 75007 Paris - the Board of Directors will propose that the payment of a substantially increased dividend will be made earlier than originally scheduled.
The proposed net dividend is € 0.54 with a tax credit of € 0.27, representing a growth rate of 22.7%. This should be higher than last year's net dividend of € 0.44, and should be paid from Tuesday, 4th June 2002, four days ahead of the payment date in 2001.
Three new Board Members
At the Annual General Meeting, the Board of Directors will propose that the terms of office of five directors should be renewed: Mr Lindsay OWEN-JONES, Mr Francisco CASTANER BASCO, Mr Marc LADREIT de LACHARRIERE, Mr Olivier LECERF and Mr Michel SOMNOLET.
The Board will also propose the appointment of three new directors: Mr Jean-Louis DUMAS (Chairman of HERMES), Mr Xavier FONTANET (Chairman of ESSILOR) and Mr Franck RIBOUD (Chairman of DANONE). The inclusion of three well-known figures from international industry will both strengthen the Board of Directors and increase its independence.
Conditions for admittance to the Annual General Meeting are published in the "Shareholders' Letters" and on the site www.loreal-finance.com.
The draft resolutions will be set out in the Annual General Meeting notice of Friday, 5th April in the Bulletin des Annonces Légales Obligatoires (BALO) and on L'Oréal’s finance website.
|Contacts at L'ORÉAL|
| Shareholders and Market Authorities |
M. François ARCHAMBAULT
Tel : +33(0)22.214.171.124.45
E-mail : [email protected]
|Financial Analysts and Institutional Investors |
Mme Caroline MILLOT
Tel : +33(0)126.96.36.199.82
Fax : +33(0)188.8.131.52.02
M. Lorrain KRESSMANN
Tel : +33(0)184.108.40.206.24
|For further information, please consult your bank, broker or other financial institution, or your usual newspapers. Alternatively, you may consult the Internet site specially for shareholders and investors, http://www.loreal-finance.com or call the following number +33 1 58 13 51 36. |
Extensive live coverage of the annual presentation of the 2001 financial results will be available online at the http://www.loreal-finance.com site on Thursday, 4th April, 2002 from 10.45am onwards.