Confirmed credit lines are discussed in note 9.1.11.
Purchase commitments related to equity investments are presented in notes 17 and 18.
Other significant off-balance sheet commitments have been identified and measured.
| € millions | 31.12.2025 | 31.12.2024 | 31.12.2023 |
|---|---|---|---|
| Guarantees given(1) | Guarantees given (1)31.12.2025 310.6 |
Guarantees given (1)31.12.2024 314.9 |
Guarantees given (1)31.12.2023 279.0 |
| Guarantees received | Guarantees received 31.12.2025 126.5 |
Guarantees received 31.12.2024 123.0 |
Guarantees received 31.12.2023 126.5 |
| Capital expenditure orders(2) | Capital expenditure orders (2)31.12.2025 407.3 |
Capital expenditure orders (2)31.12.2024 528.1 |
Capital expenditure orders (2)31.12.2023 581.7 |
| Firm purchase commitments under logistics supply and service contracts(3) | Firm purchase commitments under logistics supply and service contracts (3)31.12.2025 2,369.4 |
Firm purchase commitments under logistics supply and service contracts (3)31.12.2024 2,033.9 |
Firm purchase commitments under logistics supply and service contracts (3)31.12.2023 2,237.7 |
The consolidated financial statements include transactions carried out between the Group and its equity-accounted companies, considered to be related parties. The main transactions with these related parties and the associated outstanding balances are as follows:
| € millions | 2025 | 2024 | 2023 |
|---|---|---|---|
| Sales of goods and services | Sales of goods and services 2025 10.8 |
Sales of goods and services 2024 10.7 |
Sales of goods and services 2023 11.4 |
| Operating charges | Operating charges 2025 (0.9) |
Operating charges 2024 (1.2) |
Operating charges 2023 (1.0) |
| Financial expenses and income | Financial expenses and income 2025 — |
Financial expenses and income 2024 — |
Financial expenses and income 2023 — |
The following receivables and payables were recorded on the balance sheet for the related parties:
| € millions | 31.12.2025 | 31.12.2024 | 31.12.2023 |
|---|---|---|---|
| Operating receivables | Operating receivables 31.12.2025 2.4 |
Operating receivables 31.12.2024 2.3 |
Operating receivables 31.12.2023 2.6 |
| Operating payables | Operating payables 31.12.2025 0.2 |
Operating payables 31.12.2024 0.3 |
Operating payables 31.12.2023 0.1 |
| Financial receivables | Financial receivables 31.12.2025 0.3 |
Financial receivables 31.12.2024 0.3 |
Financial receivables 31.12.2023 0.3 |
L’Oréal has been informed that on 16 December 2016, the members of the Bettencourt Meyers family group, and Mr. Jean-Paul Agon for 100 shares, signed lock-up agreements under the Dutreil law for 185,704,189 L’Oréal shares representing 33.065% of the capital and of the voting rights of the Company on the date of the agreement.
The lock-up agreements were concluded in application of Articles 787 B and 885 I bis of the French General Tax Code for a period of two years, tacitly renewable for one-year periods.
They do not include any preferential rights for sales or acquisitions for the benefit of the signatories and do not constitute a concerted action vis-à-vis the Company.
On 29 December 2023, the agreements concluded in 2016 were terminated and a new lock-up agreement was concluded pursuant to Article 787 B of the French General Tax Code, representing the same number of L'Oréal shares and similar to those concluded in 2016, with the addition of the company Financière L'Arcouest (controlled by Ms Françoise Bettencourt Meyers and her family) as a signatory.
