LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded revenue of €35.7 billion in 2015, an increase of 16% over the previous year. Organic revenue growth was 6%. The Group turned in strong momentum in Europe, the United States and Japan while other Asian countries demonstrate contrasting tendencies.
In the fourth quarter, revenue increased by 12% compared to the same period of 2014. Organic growth was 5%.
Profit from recurring operations reached €6 605 million in 2015, an increase of 16%, to which all business groups contributed. Group share of net profit was €3 573 million. Excluding the capital gain realized in 2014 following the distribution of Hermès shares, Group share of net profit increased by 20%.
Bernard Arnault, Chairman and CEO of LVMH, said: “The 2015 results confirm the capacity for LVMH to progress and gain market share despite economic and geopolitical uncertainty. Revenue and operating profit reached new record levels. Commitment to excellence, a passion for quality and our capacity to innovate underpin our growth momentum and are all values epitomised by the Fondation Louis Vuitton and its emblematic building that welcomed over one million visitors in 2015. All our Maisons demonstrated outstanding flexibility in 2015. By adapting their strategies to global changes and by continuing to evolve, they have shown the creativity and entrepreneurship that drive them forward. In an uncertain economic environment, we can rely on the desirability of our brands and the agility of our teams to further strengthen in 2016 our leadership in the world of high quality products.”
Key highlights from 2015 include:
- Record revenue and profit from recurring operations
- Strong progress in Europe, the United States and Japan
- Positive impact of exchange rates
- Good performance of Wines & Spirits in all regions with a progressive normalization of the situation in China
- The success of both iconic and new products at Louis Vuitton, where profitability remains at an exceptional level
- Progress at Fashion brands, in particular Fendi, Céline, Givenchy and Kenzo
- Remarkable momentum at Christian Dior which gained market share globally
- Excellent results at Bvlgari and success of TAG Heuer’s refocusing strategy
- Exceptional progress at Sephora which strengthened its position in all its markets and in digital
- Free cash flow of €3.7 billion, an increase of 30%
- A gearing of 16% as of the end of December 2015
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