New report 12 months for LVMH in 2022

. Income 79 billion euros
. Revenue from recurring operations 21 billion euros
. Each up 23%
. A robust social and financial footprint in France

Paris, January twenty sixth, 2023

LVMH Moët Hennessy Louis Vuitton, the world’s main luxurious items group, recorded income of €79.2 billion in 2022 and revenue from recurring operations of €21.1 billion, each up 23%.

All enterprise teams achieved vital natural income development over the 12 months (see desk on web page 3). Style & Leather-based Items notably reached report ranges, with natural income development of 20%. Revenue from recurring operations stood at €21.1 billion for 2022, up 23%. Working margin remained on the similar degree as 2021. Group share of web revenue was €14.1 billion, up 17% in comparison with 2021. Working free money circulation surpassed €10 billion.

Europe, america and Japan rose sharply, benefiting from robust demand from native clients and the restoration of worldwide journey. Asia was steady over the 12 months as a consequence of developments within the well being scenario in China.

Bernard Arnault, Chairman and CEO of LVMH, stated: “Our efficiency in 2022 illustrates the distinctive attraction of our Maisons and their capacity to create need throughout a 12 months affected by financial and geopolitical challenges. The Group as soon as once more recorded vital development in income and earnings. Our development technique, primarily based on the complementary nature of our actions, in addition to their geographic variety, encourages innovation and the standard of our creations, the excellence of their distribution, and provides a cultural and historic dimension because of the heritage of our Maisons. This was showcased throughout our vastly profitable LVMH Journées Particulières, once we opened our doorways to all in fifteen international locations in 2022 and noticed a report variety of guests come to be taught in regards to the know-how of our artisans. We method 2023 with confidence however stay vigilant as a consequence of present uncertainties. We rely on the desirability of our Maisons and the agility of our groups to additional strengthen our lead within the international luxurious market and help France’s status all through the world.”

Highlights of 2022 embody:

• A report 12 months regardless of the geopolitical and financial scenario,

• Vital income development for all enterprise teams and market share good points worldwide,

• Robust development in enterprise in Europe, Japan and america,

• Good development in Champagne and Cognac, primarily based on a price creation technique,

• A outstanding efficiency by the Style & Leather-based Items enterprise group, notably Louis Vuitton, Christian Dior, Celine, Fendi, Loro Piana, Loewe and Marc Jacobs, that are gaining market share globally and reaching report ranges of income and earnings,

• Louis Vuitton income surpassed 20 billion euros, for the primary time,

• Robust development in perfumes. The continued international success of Dior’s Sauvage, as soon as once more world chief in 2022,

• Sustained inventive momentum for all our Watches & Jewellery Maisons, specifically Tiffany, Bulgari and TAG Heuer,

• A outstanding rebound for Sephora, which confirmed its place as world chief within the distribution of magnificence merchandise,

• Working investments of almost €5 billion, primarily devoted to the growth of the shop community, the event of manufacturing amenities and employment,

• Working free money circulation of greater than €10 billion.

LVMH, a powerful social financial footprint in France and all over the world:

• 39,000 younger folks recruited worldwide in 2022.

• In France, LVMH recruited greater than 15,000 folks in 2022, which makes the Group the main non-public recruiter within the nation.

• In 2022, LVMH invested almost 215 million euros in coaching its staff.

• In France, one job created instantly by LVMH generates 4 for the French economic system. That’s equal to round 160,000 folks working not directly for the Group.

• Greater than 500 shops and 110 manufacturing amenities and workshops positioned throughout France.

• LVMH opens a number of manufacturing amenities every year in France, notably for Louis Vuitton.

• 5 billion in company taxes paid worldwide, virtually half of which in France.

• A couple of billion euros invested in France every year.

• On common over latest years, the complete fiscal footprint (company tax + VAT + social expenses) of LVMH in France is greater than 4.5 billion euros per 12 months.

• The salaries of the group’s staff are among the many best of their sector of exercise.

• Most of our staff in France profit from profit-sharing, with an general complete for the group of 400 million euros in 2022.

• LVMH has been acknowledged for its management when it comes to transparency and efficiency in issues in regards to the safety of the local weather, forests and water by the CDP (Carbon Disclosure Challenge), a world not-for-profit environmental group and is now one among 12 corporations on this planet to have obtained a triple “A” ranking out of greater than 15,000 rated corporations.

Key figures

Income by enterprise group:

* with comparable construction and fixed alternate charges. The structural affect for the Group was zero and the forex impact was +6 %.

Revenue from recurring operations by enterprise group:

Wines & Spirits: report degree of income and earnings

The Wines & Spirits enterprise group recorded income development of 19% in 2022 (11% on an natural foundation). Revenue from recurring operations was up 16%. Champagne volumes had been up 6%, pushed by sustained demand resulting in rising stress on provides. Momentum was significantly robust in Europe, Japan and in rising markets, significantly in “excessive power” channels and gastronomy. Hennessy cognac benefited from its worth creation technique. The dynamic coverage of value will increase offset the consequences of the well being scenario in China, whereas america was affected in the beginning of the 12 months by logistical disruptions. Nonetheless wines, specifically the Château d’Esclans rosé, achieved a wonderful efficiency. Moët Hennessy strengthened its international portfolio of remarkable wines with the acquisition of the Joseph Phelps winery, some of the famend wine properties in Napa Valley, California.

Style & Leather-based Items: distinctive performances by Louis Vuitton, Christian Dior, Celine, Fendi, Loro Piana, Loewe and Marc Jacobs

The Style & Leather-based Items enterprise group recorded income development of 25% in 2022 (20% on an natural foundation). Revenue from recurring operations was up 22%. Louis Vuitton had a wonderful 12 months, once more pushed by its distinctive creativity, the standard of its merchandise and its robust ties with artwork and tradition. The ladies’s ready-to-wear style reveals created by Nicolas Ghesquière had been extraordinarily well-received. Many new merchandise had been unveiled in leather-based items, jewellery and watches. In the meantime, the brand new “LV Dream” exhibition in Paris pays tribute to 160 years of inventive exchanges that gas Louis Vuitton’s spirit of innovation, and a brand new collaboration with Japanese artist Yayoi Kusama was unveiled, revisiting iconic creations of the Maison. Christian Dior continued its outstanding development trajectory throughout all its product traces. After three years of renovations, the Maison’s historic retailer at 30 avenue Montaigne, which reopened in Paris in early 2022, loved big success, providing a brand new expertise of the very best refinement. Its style reveals continued to supply distinctive moments, whether or not in Seville, Spain, for the ladies’s collections of Maria Grazia Chiuri, or in Egypt on the foot of the Giza pyramids for the boys’s present imagined by Kim Jones. Celine skilled very robust development because of the success of Hedi Slimane’s creations and his extraordinarily trendy and exact imaginative and prescient, as did Loewe, pushed by the robust creativity of J.W. Anderson. Fendi celebrated the twenty fifth anniversary of its iconic Baguette bag in New York. Loro Piana, Rimowa and Marc Jacobs additionally had a wonderful 12 months.

Perfumes & Cosmetics: robust momentum in fragrance and continued selective distribution

The Perfumes & Cosmetics enterprise group recorded income development of 17% in 2022 (10% on an natural foundation). Revenue from recurring operations was barely down on account of a really selective coverage of distribution to say itself within the status universe. Christian Dior loved a outstanding efficiency, strengthening its lead. Sauvage confirmed its place because the world’s main fragrance, whereas the enduring ladies’s fragrances Miss Dior and J’adore, enriched with its newest creation Parfum d’Eau, continued to develop. Dior Addict in make-up and Status in skincare additionally contributed to the fast development of the Maison. Guerlain sustained its development, pushed notably by the vitality of its Abeille Royale skincare, its Aqua Allegoria assortment and its distinctive perfumes L’Artwork et la Matière. Parfums Givenchy benefited from the continued success of its fragrances. Fenty Magnificence doubled its income because of the growth of its distribution community and the success of its launches.

Watches & Jewellery: fast development in jewellery and watches

The Watches & Jewellery enterprise group recorded income development of 18% in 2022 (12% on an natural foundation). Revenue from recurring operations was up 20%. Tiffany & Co. had a report 12 months, pushed by its growing desirability. Whereas its Excessive Jewellery income doubled, the brand new Lock bracelet assortment, rolled out in North America, loved nice success alongside different iconic traces. The “Imaginative and prescient & Virtuosity” exhibition on the Saatchi Gallery in London showcased 185 years of creativity and know-how of the Maison over the summer season. Bvlgari confirmed its robust momentum, significantly in Europe, Japan and america. The enduring Serpenti line and the Excessive Jewellery and Excessive Watchmaking collections had been the primary development drivers. The Octo Finissimo Extremely watch broke a brand new report of thinness. Chaumet had a superb 12 months and celebrated nature with its “Végétal” exhibition in Paris. Fred confirmed robust development and launched its first retrospective exhibition on the Palais de Tokyo in Paris. Within the watchmaking sector, TAG Heuer unveiled, amongst different improvements, the Carrera Plasma, an avant-garde fusion of watchmaking and lab grown diamonds. As official timekeeper, Hublot loved robust visibility through the 2022 Soccer World Cup. Zenith continued to develop its in-store and on-line distribution.

Selective Retailing: wonderful efficiency by Sephora; DFS impacted by the well being scenario in China

Selective Retailing income was up 26% in 2022 (17% on an natural foundation). Revenue from recurring operations was up 48%. With a powerful rebound in exercise in its shops, Sephora loved a report efficiency in each income and earnings. Momentum was significantly robust in North America, Europe, the Center East and in most Southeast Asian international locations. Additional investments had been made into Sephora’s omnichannel technique in an effort to constantly enhance its clients’ buying expertise each on-line and in-store. The community continued to develop notably as a result of partnership with Kohl’s in america. Sephora’s Russian enterprise was divested. DFS was nonetheless affected by the well being scenario in China. The flagship locations of Hong Kong and Macau significantly suffered on account of the suspension of home journey and the entire absence of vacationers however simply reopened in January. Le Bon Marché, which is rising strongly, continued to develop progressive ideas and profit from the return of loyal French clients and worldwide travellers.

Confidence in 2023

With the month of January having began nicely and regardless of an unsure geopolitical and financial surroundings, LVMH is assured in its capacity to proceed the expansion noticed in 2022. The Group will pursue its model growth centered technique, underpinned by continued innovation and funding in addition to a relentless quest for desirability and high quality in its merchandise and their distribution.

Pushed by the agility of its groups, their entrepreneurial spirit and its nicely diversified presence throughout companies and geographic areas by which its clients are positioned, LVMH enters 2023 with confidence and as soon as once more, units an goal of reinforcing its international management place in luxurious items.

Dividend 2022

On the Basic Assembly of April 20, 2023, LVMH will suggest a dividend of 12 euros per share. An interim dividend of 5 euros per share was paid on December 5 of final 12 months. The stability of seven euros shall be paid on April 27, 2023.

The Board of Administrators met on January 26th to approve the monetary statements for 2022. Audit procedures have been carried out and the audit report is being issued.

The regulated data associated to this press launch in addition to the presentation of the annual outcomes and the “Monetary paperwork” report can be found on the web site www.lvmh.com.

Particulars of the webcast regarding the publication of the 2022 annual outcomes can be found at: https://www.lvmh.com/.

APPENDIX

Condensed consolidated accounts for 2022 are included within the PDF model of the press launch.

LVMH – Income by enterprise group and by quarter

2022 Income (Euro thousands and thousands)

2022 Income (Natural change verses similar interval of 2021)

2021 Income (Euro thousands and thousands)

Various efficiency measures

For the needs of its monetary communication, along with the accounting aggregates outlined by the IAS/IFRS requirements, LVMH makes use of various efficiency measures established in accordance with AMF’s place DOC-2015-12.

The desk under lists these measures and the reference to their definition and their reconciliation with the aggregates outlined by the IAS/IFRS within the printed paperwork.

FD: Monetary paperwork as at December 31, 2022

LVMH

LVMH Moët Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of manufacturers that features Moët & Chandon, Dom Pérignon, Veuve Clicquot, Krug, Ruinart, Mercier, Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Colgin Cellars, Hennessy, Glenmorangie, Ardbeg, Belvedere, Woodinville, Volcán de Mi Tierra, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle, Newton, Bodega Numanthia, Ao Yun, Château d’Esclans, Château Galoupet and Joseph Phelps. Its Style and Leather-based Items division consists of Louis Vuitton, Christian Dior, Celine, Loewe, Kenzo, Givenchy, Fendi, Emilio Pucci, Marc Jacobs, Berluti, Loro Piana, RIMOWA, Patou. LVMH is current within the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Kenzo Parfums, Perfumes Loewe, Profit Cosmetics, Make Up For Ever, Acqua di Parma, Recent, Fenty Magnificence by Rihanna, Maison Francis Kurkdjian and Officine Universelle Buly. LVMH’s Watches and Jewellery division contains Bulgari, Tiffany & Co., TAG Heuer, Chaumet, Zenith, Fred and Hublot. LVMH can be energetic in selective retailing in addition to in different actions by DFS, Sephora, Le Bon Marché, La Samaritaine, Groupe Les Echos, Cova, Le Jardin d’Acclimatation, Royal Van Lent, Starboard Cruise Companies, Belmond and Cheval Blanc accommodations.

“This doc might include sure ahead trying statements that are primarily based on estimations and forecasts. By their nature, these ahead trying statements are topic to necessary dangers and uncertainties and components past our management or capacity to foretell, specifically these described in LVMH’s Common Registration Doc which is accessible on the web site (www.lvmh.com). These ahead trying statements shouldn’t be thought of as a assure of future efficiency, the precise outcomes might differ materially from these expressed or implied by them. The ahead trying statements solely mirror LVMH’s views as of the date of this doc, and LVMH doesn’t undertake to revise or replace these ahead trying statements. The ahead trying statements ought to be used with warning and circumspection and in no occasion can LVMH and its Administration be held liable for any funding or different resolution primarily based upon such statements. The data on this doc doesn’t represent a proposal to promote or an invite to purchase shares in LVMH or an invite or inducement to have interaction in every other funding actions.”

LVMH CONTACTS

 

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