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Published by Sofi_Smith

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Published by: Sofi_Smith on Oct 23, 2012
Copyright:Attribution Non-commercial


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Table o contents
Detailed chapter contents can be found at the beginning of each chapter.
 Presentation o the Group 3
1.1. Mission 41.2. History 51.3. Business activities and strategy 51.4. International and cosmetics market 81.5. Research and innovation: excellence,to meet the needs of all markets 121.6. Operations 141.7. Investment policy 171.8. Risk factors 171.9. Information policy 24
 Corporate governance 27
2.1. Summary of the principles 282.2. The Board’s composition and the way in whichthe Board’s work is prepared and organised 292.3. Remuneration of the members of the Boardof Directors and the corporate officers 532.4. Summary of trading by Directors and corporateofficers in L’Oréal shares in 2011 592.5. Internal Control procedures(Report of the Chairman of the Boardof Directors on Internal Control) 592.6. Statutory Auditors’ Report, preparedin accordance with Article L. 225-235of the French Commercial Codeon the Report prepared by the Chairmanof the Board of Directors 662.7 Statutory Auditors’ Special Report on regulatedagreements and commitments with third parties 67
 Comments onthe 2011 fnancial year 69
3.1. The Group's business activities in 2011 703.2. Financial highlights 763.3. Recent events and prospects 85
 2011 Consolidated FinancialStatements 87
4.1. Compared consolidated income statements 884.2. Consolidated statements of net profit and gainsand losses recognised directly in equity 894.3. Compared consolidated balance sheets 904.4. Consolidated statements of changes in equity 914.5. Compared consolidated statements of cash flows 924.6. Notes to the consolidated financial statements 934.7. Consolidated companies at December 31
, 2011 1404.8. Statutory Auditors’ Report on the consolidatedfinancial statements 145
 2011 parent company FinancialStatements 147
5.1. Compared income statements 1485.2. Compared balance sheets 1495.3. Changes in shareholders’ equity 1505.4. Statements of cash flows 1515.5. Notes to the parent company financialstatements 1525.6. Table of subsidiaries and holdingsat December 31
, 2011 1695.7. Other information relating to the financialstatements of L’Oréal parent company 1735.8. Five-year financial summary 1745.9. Investments (main changes includingshareholding threshold changes) 1755.10. Statutory Auditors’ Report on the financialstatements 176
 Corporate social, environmentaland societal responsibility 179
6.1. Social information 1806.2. Environmental information 1946.3. Societal information 199
 Stock market inormationand share capital 205
7.1. Information relating to the Company 2067.2. Information concerning the share capital 2087.3. Shareholder structure 2107.4. L’Oréal share market 219
 Annual General Meeting 225
8.1. Report of the Board of Directors on the Draftresolutions 2268.2. Draft resolutions Ordinary and ExtraordinaryGeneral Meeting of April 17
, 2012 2308.3. Statutory Auditors’ Special Reporton the cancellation of shares purchasedby the Company 234
 Appendix 235
9.1. Auditors 2369.2. Historical financial information includedby reference 2369.3. Person responsible for the RegistrationDocument and the Annual Financial Report 2379.4. Declaration by the person responsiblefor the Registration Documentand the Annual Financial Report 2379.5. Table of contents 2389.6. Registration Document table of concordance 2409.7. Annual Financial Report table of concordance 2429.8. Table of concordance of the Management Report 243
In application of Article 212-13 of the GeneralRegulation of the
Autorité des Marchés Financiers 
(AMF), this Registration Document was filed withthe AMF on March 14
 , 2012.This Registration Document may be used inconnection with a financial transaction if it isaccompanied by an information memorandumapproved by the AMF. The document has beenprepared by the issuer and its signatories incurliability in this regard.
This document was printed in France on chlorine-free and PEFCcertified paper produced from sustainably managed forests.www.pefc-france.org
This is a free translation into English of the L’Oréal 2011 Registration Document issued in the French language and is provided solely for the convenience of English speaking readers. In case of discrepancy the French version prevails.
2011 Registration Document
Annual Financial Report

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