New records for LVMH in 2022: EUR 79 billion in sales and 14 billion in net profit – Economy
The world number one in luxury LVMH announced this Thursday new record results in 2022 with sales of 79 billion euros and a net profit of 14 billion euros, thanks to the strong increase in activity in Europe and the United States. “We are approaching 2023 with confidence, but given the current uncertainties, we will remain vigilant and count on the desirability of our Houses and the agility of our teams to further strengthen our lead in the global luxury market”, declares its CEO Bernard Arnault, quoted in a press release.
The luxury giant, which owns the brands Louis Vuitton, Dior, Tiffany and Moët & Chandon, among others, saw its turnover in 2022 jump by 23%, or almost 15 billion more than the previous year. Net profit grew slightly more slowly, by 17%. He mentions the “sharp increase” in its sales in Europe, the United States and Japan, but “Asia is stable over the year due to the evolution of the health situation in China”, underlines the group. Profitability is stable with a current operating margin of 26.6%.
Dividend of 12 euros per share
The luxury giant continues to be driven by its flagship Fashion and Leather Goods division (Louis Vuitton, Dior, Celine, Fendi, etc.) whose sales increased by 25% to reach 38.65 billion euros. At the beginning of January, the group announced that it was renewing the management of its two biggest brands, Louis Vuitton and Dior, with the appointment of Pietro Beccari as head of the first and Delphine Arnault, daughter of Bernard Arnault, at the helm of the second.
LVMH, which has exceeded the threshold of 400 billion euros in market capitalization, a first for a European company, will pay a dividend of 12 euros per share to its shareholders. It was 10 euros for the previous year.
letelegramme Fr Trans