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LVMH announces first half results

Jul 27, 2022 France
LVMH announces first half results
"In a still disrupted environment", the French-based luxury group posted revenue growth in the first half of the year. The fashion & leather goods segment recorded a "remarkable" performance
In the first half of the year, the group reported a revenue increase of 28%, on a comparable basis to the same period of 2021, reaching 36.7 billion euros. All business groups achieved double-digit organic revenue growth over the period, with overall organic growth corresponding to 21%. In the second quarter alone, LVMH's revenue was up by 27%, "against a particularly high basis of comparison", and organic revenue growth was 19%.

Revenue generated in Europe and the United States has been up "sharply" since the beginning of the year, while Asia recorded a lower growth level due to the health restrictions imposed in China.

The group's share of net profit was 6 532 million euros in the first half of 2022, up by 23%, as compared to the first half of 2021.

"LVMH has enjoyed an excellent start to the year, to which all of our business groups contributed. It is the creativity and quality of our products, the excellence of their distribution and the rich cultural heritage of our Maisons, fuelled by their history and know-how, that enable the Group to excel around the world. We approach the second half of the year with confidence, but given the current geopolitical and health situation, we will remain vigilant and count on the agility and talent of our teams to further strengthen our global leadership position in luxury goods in 2022", commented Bernard Arnault, Chairman and CEO of LVMH.

Fashion & Leather Goods Segment

In the first half of the year, the fashion & leather goods business group recorded a revenue increase of 31%, as reported, as compared to the first half of 2022, totalling 18.4 billion euros; organic revenue growth for the period was 24%. According to LVMH, Louis Vuitton, Christian Dior, Fendi, Celine, Loro Piana and Loewe had "remarkable performances".


Image Credits: fashiongonerogue.com


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