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Fashion brand LVMH's H1 revenue rises 3% to €14bn
25
Jul '14
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded revenue of €14 billion in the first half of 2014, an increase of 3%. Organic revenue growth was 5% compared to the same period in 2013. The Group continued to grow in the United States and Asia. Europe demonstrated resilience despite a still challenging economic environment.
 
With organic growth of 3%, the second quarter showed comparable regional trends to the first quarter, except in Japan, which had experienced particularly strong growth during the first quarter.
 
Profit from recurring operations for the first half of 2014 was €2 576 million and current operating margin reached 18%. Negative exchange rate effects weighed strongly on the first half. Group share of net profit amounted to €1 509 million.
 
Bernard Arnault, Chairman and CEO of LVMH, commented, “The results of the first half demonstrate LVMH’s excellent resilience, thanks to the strength of its brands and the responsiveness of its organization in a climate of economic and financial uncertainties. The first half of the year also witnessed the smooth integration of Loro Piana into the Group. Following the first half’s good resilience, it is with confidence that we approach the second half of the year and rely on the creativity and quality of our products, and the effectiveness of our teams, to pursue further market share gains in our traditional markets, as well as in high potential emerging territories.”
 
Highlights of the first half of 2014 include: 
-Good resilience in Europe and continued growth in Asia and the United States, 
-Strong negative exchange rate effect, particularly on Fashion & Leather Goods and Watches & Jewelry activities, 
-Wines & Spirits’ performance impacted by continued destocking by distributors in China, 
-The qualitative development of Louis Vuitton, where profitability remains at an exceptional level, 
-Continued investment in the fashion brands, 
-Strong innovation momentum at Parfums Christian Dior, 
-Sustained investment in communication for Watches & Jewelry, 
-Excellent performance of Sephora and continued expansion plan of DFS, 
-Cash from operations before changes in working capital of €3.2 billion, 
-Net debt to equity ratio of 23% as of the end of June 2014.
 
Click here to view full results.
 

LVMH


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