3.1.2.2. Breakdown of operational assets and consolidated investments by region
| 2025 | 2024 | 2023 | ||||
|---|---|---|---|---|---|---|
| € millions | Operational assets | Investments in property, plant and equipment and intangible assets | Operational assets | Investments in property, plant and equipment and intangible assets | Operational assets | Investments in property, plant and equipment and intangible assets |
| Europe | 14,770.8 | 464.6 | 13,560.6 | 523.0 | 13,621.9 | 494.2 |
| North America | 9,468.8 | 358.8 | 9,326.3 | 365.9 | 8,571.3 | 296.0 |
| North Asia | 3,852.3 | 111.9 | 3,878.4 | 172.7 | 3,972.6 | 194.5 |
| SAPMENA – SSA | 3,999.5 | 124.2 | 4,136.2 | 129.1 | 3,829.1 | 97.9 |
| Latin America | 1,876.3 | 99.4 | 1,798.8 | 71.8 | 1,854.8 | 81.7 |
| Non-allocated | 2,059.6 | 342.7 | 1,999.1 | 397.2 | 1,222.9 | 341.4 |
| GROUP | 36,027.3 | 1,501.5 | 34,699.5 | 1,659.7 | 33,072.5 | 1,505.8 |
Non-current assets consist of a significant portion of brand and goodwill, which must be analysed on the basis of sales that they generate by region and not according to the country of their legal ownership.
3.1.3 Sales by business segment
WEIGHT OF NET SALES BY PRODUCT CATEGORY OVER THE THREE PERIODS
This diagram presents three donut charts illustrating the weight of net sales by product category over three consecutive financial years.
2025 Sales — €44,052m:
Skincare: 37.2%
Make-up: 19.1%
Haircare: 17.5%
Hair colourants: 7.6%
Perfumes: 14.6%
Other: 4.0%
2024 Sales — €43,487m:
Skincare: 38.6%
Make-up: 19.4%
Haircare: 16.2%
Hair colourants: 8.0%
Perfumes: 13.7%
Other: 4.1%
2023 Sales — €41,183m:
Skincare: 39.9%
Make-up: 19.7%
Haircare: 15.3%
Hair colourants: 8.3%
Perfumes: 12.6%
Other: 4.1%
| Growth (%) | |||||
|---|---|---|---|---|---|
| € millions | 2025 | Published data | Excluding exchange effect | 2024 | 2023 |
| Skincare | 16,383.5 | (2.5%) | 0.9% | 16,803.7 | 16,447.1 |
| Makeup | 8,417.0 | (0.4%) | 3.4% | 8,449.4 | 8,123.7 |
| Haircare | 7,711.1 | 9.6% | 13.8% | 7,034.0 | 6,319.6 |
| Hair colourants | 3,350.3 | (3.2%) | 0.4% | 3,460.3 | 3,425.6 |
| Perfumes | 6,424.9 | 7.9% | 10.8% | 5,955.6 | 5,171.3 |
| Other | 1,765.3 | (1.0%) | 3.8% | 1,783.9 | 1,695.3 |
| GROUP | 44,052.0 | 1.3% | 4.9% | 43,486.8 | 41,182.5 |
3.2 Depreciation and amortisation expense and Property, plant and equipment
3.2.1 Depreciation and amortisation in operating expenses
| € millions | 2025 | 2024 | 2023 |
|---|---|---|---|
| Depreciation and amortisation of property, plant and equipment and intangible assets |
Depreciation and amortisation of property, plant and equipment and intangible assets 2025 1,652.4 |
Depreciation and amortisation of property, plant and equipment and intangible assets 2024 1,586.7 |
Depreciation and amortisation of property, plant and equipment and intangible assets 2023 1,429.7 |
| including right-of-use (IFRS 16) |
including right-of-use (IFRS 16) 2025 482.5 |
including right-of-use (IFRS 16) 2024 474.5 |
including right-of-use (IFRS 16) 2023 426.0 |