Slide 1: L'Oréal S.A.: Investment Memorandum. Slide 2: Disclaimer. Slide 3: Executive Summary. Slide 4: 1. Company Overview. Slide 5: Business Segments. Slide 6: Brand Portfolio Strength. Slide 7: 2. Industry Overview. Slide 8: Market Growth Drivers. Slide 9: Key Industry Trends. Slide 10: Competitive Landscape. Slide 11: 3. Financial Performance. Slide 12: Revenue Growth Analysis. Slide 13: Profitability Metrics. Slide 14: Cash Flow & Balance Sheet. Slide 15: 4. Investment Thesis. Slide 16: Strengths & Competitive Advantages. Slide 17: Growth Opportunities. Slide 18: Innovation & R&D. Slide 19: Digital Transformation Strategy. Slide 20: 5. Valuation. Slide 21: Comparative Analysis. Slide 22: Valuation Metrics (Illustrative). Slide 23: 6. Risks & Challenges. Slide 24: Key Risk Factors. Slide 25: 7. ESG Considerations. Slide 26: L'Oréal's ESG Initiatives. Slide 27: 8. Investment Recommendation. Slide 28: Key Investment Rationale. Slide 29: Q&A and Contact Information. Slide 30: Appendix. Slide 31: Thank You