LVMH will distribute an interim dividend of 5 euros to shareholders: it will be paid from 5/12
The French luxury giant Lvmh registered a turnover of 36.7 billion of euros in the first half of 2022, with a 28% increase compared to the same period in 2021. Organic revenue growth was 21%. All business groups experienced double-digit organic revenue growth over the period. In the second quarter, i revenues increased by 27% against a particularly high basis of comparison.
The corganic revenue growth was 19%, in line with the trends recorded in the first quarter. Europe and the United States recorded strong growth since the beginning of the year, while Asia experienced a lower level of growth due to new health restrictions in China.
A good trend was recorded in all areas with a remarkable performance of the Fashion & Leather Goods business group (revenues + 24%), in particular Louis Vuitton, Christian Dior, Fendi, Celine, Loro Piana and Loewewhich gained market share and new profitability records. “The strong rebound of Sephora (revenues + 22% and operating profit + 181%) and recovery in the hotel business.
THE revenues from the Wines & Spirits business grew by 14% with champagne volumes growing by 16%; the Perfumes and Cosmetics section recorded organic revenue growth of 13% but operating profit fell by 1% “due to its highly selective distribution and promotion policy”; Revenues from jewelery and watches recovered (revenues + 16% and operating profit + 26%).
The profit of recurring transactions increased by 34%, reaching i 10,235 million euros for the first half of 2022. Il operating margin reached the 27.9% of revenueswith an increase of 1.3 points compared to the first half of 2021. La Group’s share of net profit was 6,532 million euros, with an increase of 23% compared to the first half of 2021.
Lvmh together with the results, in double-digit growth, of the first half, decided to distribute an interim dividend of 5 euros to shareholders which, a note reads, will be paid on 5 December 2022.
Bernard Arnaultpresident and CEO of Lvmhhe has declared: “LVMH enjoyed an excellent start to the year, to which all our corporate groups have contributed. I’m there creativity and the quality of our products, the excellence of their distribution and the rich cultural heritage of our Maisons, fueled by their history and their know-how, that allow the Group to excel all over the world. We face the second half of the year with confidence, but given the current geopolitical and health situation, we will remain vigilant and rely on the agility and talent of our teams to further strengthen our global leadership position in luxury goods in 2022 “.
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