L'Oreal Unsp/Adr

We are right on time to start this meeting. Let me begin by saying that I hope that you and your families are all safe and well. I'm joined here today by Christophe Babule, our CFO, and Nicolas Hieronymus, deputy CEO and head of divisions. As you know, Nicolas will become CEO of L'Oréal, of the group, on the 1st of May. In previous years, we have been joined by the presidents of our divisions. This year, to respect the strictest health and safety measures, we have decided to limit the number of people on stage. The presentations of the four division heads have been recorded, and they will then join us remotely by telephone to answer your questions during the Q&A session. So first, a quick word from Françoise Lovain with the housekeeping details, and then we will begin.

Good morning, ladies and gentlemen. We are happy to welcome you to this virtual presentation of our 2020 annual results, which is webcast live in our dedicated website, l'oreal-finance.com. Let's have a quick look at the agenda of this meeting. Christophe Babul, our CFO, will kick off with a presentation of the financial statements and of our extra financial performance. Then, each head of division will summarize the 2020 highlights of his or her division, as well as the prospects for 2021. Jean Polagon, our chairman and CEO, will explain how well L'Oréal navigated through this unprecedented year and he will let Nicolas Hieronymus, our deputy CEO, conclude the session. Nicolas will share his strategic perspectives for the long term and his total confidence in the future of L'Oréal. At about 10 o'clock, we will move to the Q&A session which will last to the end of the meeting at around 11 o'clock. Before we start, I would like to draw your attention to a couple of points. The meeting will be held in English, but there is a simultaneous translation in French for those of you who feel more comfortable in that language. At the end of the presentations, the Q&A session will be in audio mode. You may use the audio connection now if you would like to follow the presentations by phone in a listen-only mode. All slides and visuals shown during the presentation are available in English and French on our website. During the audio Q&A session, we will kindly ask you to state your name and company name as clearly as possible before you ask your questions in English. We will also take some questions sent by email. And we kindly ask our journalists guests to raise their questions during the latter part of the Q&A session. Before we start, I would like you to read the disclaimer that you should now see on the screen. For those of you in an audio mode, it can be found on the last page of the presentations. Last point, the recorded webcast of the meeting will be available this afternoon in the annual results section of our dedicated finance website. I thank you for your attention and wish you a pleasant meeting.

Thank you very much, Françoise. Now I will pass the microphone to Christophe, who will show us the results of 2020.