LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded revenue of €30.6 billion in 2014, an increase of 6% over the previous year. Organic revenue growth was 5%. Revenue in all business groups increased with the exception of Wines & Spirits which continued to be affected by the destocking of distributors in China. The Group maintained strong momentum in the United States. Europe demonstrated good resilience despite the economic environment, while Asian countries displayed mixed trends.
Bernard Arnault, Chairman and CEO of LVMH, said: “The 2014 results confirm the capacity for LVMH to progress despite economic and currency uncertainty. Revenue and net 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 inaugurated in October 2014. The year was also marked by the arrival in the Group of Loro Piana, which saw a good performance. LVMH reached an agreement with Hermès and disposed of its stake in this company, in the form of a distribution to our shareholders. In 2014, all our Maisons demonstrated outstanding flexibility. 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 our leadership in the world of high quality products.”
Bernard Arnault, Chairman and CEO of LVMH, said: “The 2014 results confirm the capacity for LVMH to progress despite economic and currency uncertainty. Revenue and net 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 inaugurated in October 2014. The year was also marked by the arrival in the Group of Loro Piana, which saw a good performance. LVMH reached an agreement with Hermès and disposed of its stake in this company, in the form of a distribution to our shareholders. In 2014, all our Maisons demonstrated outstanding flexibility. 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 our leadership in the world of high quality products.”
Profit from recurring operations reached €5 715 million, resulting in an operating margin of 19%. Group share of net profit was €5 648 million.
Key highlights from 2014 include:
• Good momentum in the United States and continued growth in Europe
• A major increase in net profit
• Large negative exchange rate effect, principally impacting Fashion & Leather Goods
• Wines & Spirits’ performance penalized by the destocking by distributors in China
• The success of new products at Louis Vuitton, where profitability remains at an exceptional level
• Continued investment in our fashion brands
• Worldwide market share gains by Christian Dior
• Excellent results from Bvlgari
• Strong progress at Sephora
• Free cash flow of €2.8 billion
• A gearing ratio of 21% as at the end of December 2014
Key highlights from 2014 include:
• Good momentum in the United States and continued growth in Europe
• A major increase in net profit
• Large negative exchange rate effect, principally impacting Fashion & Leather Goods
• Wines & Spirits’ performance penalized by the destocking by distributors in China
• The success of new products at Louis Vuitton, where profitability remains at an exceptional level
• Continued investment in our fashion brands
• Worldwide market share gains by Christian Dior
• Excellent results from Bvlgari
• Strong progress at Sephora
• Free cash flow of €2.8 billion
• A gearing ratio of 21% as at the end of December 2014
RSS Feed