Luxury, the climb of Arnault's empire does not stop: +13% revenues in 2023
LVMH continues unstoppably to break every record and improve its performance, in terms of revenues and profitability, from year to year. In fact, the just ended 2023 recorded a 9% growth compared to 2022 turnover, equal to 86.153 billion euros (+13% organic growth), while the net profit was 15.2 billion euros, which marks a +8%.
Bernard Arnault, president and CEO of the luxury giant, commented on the enviable result without false modesty: “The group's maisons still have aexceptional appeal and ability to arouse desire, despite a year marked by the economic situation and geopolitical challenges – comments Bernard Arnault, President and CEO of LVMH – While remaining vigilant in the current context, we enter 2024 with confidence”.
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It promises to be a stimulating and exceptional year for all of us – continues the tycoon – with the our partnership at the Paris 2024 Olympic and Paralympic Games, whose fundamental values of passion, inclusion and desire to surpass oneself are elements shared by the group. For LVMH this is a new opportunity to strengthen our leadership position in luxury goods and promote France's reputation for excellence around the world.”
On the result, we read in the financial document published yesterday, exchange rates weighed on 4 percentage points due to the weakness of the Chinese renminbi, the Japanese yen and the US dollar compared to the euro.
AtLVMH shareholders' meeting of 18 Aprilreports a note, will propose a dividend of 13 euros per share. An interim dividend of €5.50 per share was paid on December 6 and the balance of €7.50 per share will be paid on April 25.
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