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French Fashion Giant LVMH Posts 23% Revenue Growth In FY22 – Stocks to Watch
  • Fri. May 17th, 2024
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French Fashion Giant LVMH Posts 23% Revenue Growth In FY22

ByShivani Kumaresan

Jan 27, 2023
French Fashion Giant LVMH Posts 23% Revenue Growth In FY22

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  • French luxury fashion house LVMH-Moet Hennessy Louis Vuitton LVMHF registered FY22 sales growth of 23% year-on-year to €79.2 billion.

  • Fashion & Leather Goods organic revenue rose 20%, with Louis Vuitton, Christian Dior, Celine, Fendi, Loro Piana, Loewe, and Marc Jacobs gaining global market share.

  • Profit from recurring operations stood at €21.1 billion, a 23% increase Y/Y and the operating margin remained flat.

  • Europe, the U.S., and Japan rose sharply, benefiting from strong demand from local customers and the recovery of international travel. 

  • Also Read: Luxury Goods Company LVMH CEO Bernard Arnault’s Daughter Takes Helm Of Christian Dior

  • Developments in the health situation in China caused a damper on Asia sales.

  • The company had an operating free cash flow of €10.1 billion and a net debt of €9.2 billion.

  • “We approach 2023 with confidence but remain vigilant due to current uncertainties,” said chairman and CEO Bernard Arnault.

  • At the General Meeting of April 20, 2023, LVMH will propose a dividend of €12 per share.

  • Price Action: LVMHF shares closed lower by 2.64% at $847 on Thursday.

  • Photo Via Company

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Image and article originally from www.benzinga.com. Read the original article here.

Shivani Kumaresan

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