This is a presentation about Yves Rocher. It's about the company and its ratios.

1. Livine Girolami 2AF3

2. Table of contents About Basic principles Ratios Liquidity Net workingcapital Current ratio Quick ratio Solvability Grade of debt Profitability Conclusion

3. About Since 1959 Founder Yves Rocher Origin La Gacilly in France Mission Making plant beauty accessible for all women

4. Basic principles The plant kingdom as the only guide The plant kingdom as the sole inspiration Expertise in plant area Protection of plants The plant kingdom is from and for everyone

5. Liquidity: Net workingcapital Calculation permanent assets - fixed assets expanded Interpretation Net working capital > 0 Positive: buffer Net working capital < 0 Negative: potential dangerous situation

6. Net workingcapital 2006 2 410 547 > 0 2007 1 983 547 > 0 2008 1 183 011 > 0

7. Net workingcapital Conclusion Evolution: decrease In general: positive Restricted current assets > short-term debts -> Buffer

8. Liquidity: Current ratio Calculation restricted current assets short-term debt Interpretation Liquidity in large sense Current ratio > 1 Positive: protectedagainstliquidityproblems Current ratio < 1 Negative

9. Current ratio 2006 1,22 > 1 2007 1,19 > 1 2008 1,10 > 1

10. Current ratio Conclusion Evolution: decrease In general: positive Able to pay short-term debts Protected against liquidity problems

11. Liquidity: Quick ratio Calculation (claims < 1 year + investments + cash) short-term debt Interpretation Liquidity in narrower sense Quick ratio > 1 Positive: very liquid on short term Quick ratio < 1 Negative

12. Quick ratio 2006 0,96 < 1 2007 0,88 < 1 2008 0,85 < 1

13. Quick ratio Conclusion Evolution: decrease In general: negative Less advantageous, less liquid on short term

14. Solvability Calculation (equity capital / total assets) x 100 Interpretation <> 25% and 40% Balanced < 25% High financial risk

15. Solvability 2006 39% <> 25% and 40% 2007 30% <> 25% and 40% 2008 22% < 25%

16. Solvability Conclusion Evolution: decrease In 2006 en 2007: positive In 2008: Negative higher financial risk and expenses

17. Solvability: Grade of debt Calculation debt capital / equity capital Interpretation <> 1,5 and 3 Financial buffer > 3 High financial risk

18. Grade of debt 2006 1,56 <> 1,5 and 3 2007 2, 38 <> 1,5 and 3 2008 3,48 > 3

19. Grade of debt Conclusion Evolution: increase -> negative! In 2006 and 2007: Positive Relative big financial buffer In 2008: Negative Higher financial risk and expenses

20. Profitability Calculation (benefice of the financial year after taxes / equity capital) x 100 Interpretation Comparing with: Interest rate of banks Profitability of competitors

21. Profitability

22. Profitability Conclusion 2007: good year for Yves Rocher Better than banks Better than competitor In general: Cosmetics: not that profitable

23. Conclusion Good and stable company 2006 and 2007: relative good years 2008: not their best year Affected by the financial crisis Producer and distributor of luxury-products Luxury: no priority in times of recession

24. Thank you for watching and listening!