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LVMH posts 2007 results, set objective for 2008
11 Feb '08
3 min read
LVMH Moët Hennessy Louis Vuitton, the world's leading luxury products group, recorded 2007 profit from recurring operations of 3 555 million Euros, an increase of 12% compared to an already strong performance in 2006.
The current operating margin again improved, reaching 22% in 2007. Revenue rose to 16.5 billion Euros, reflecting organic growth of 13% to which all business groups and all regions contributed.
This performance is even more noteworthy in view of the strong negative impact of exchange rates, which mainly affected the second half of the year. At constant exchange rates, profit from recurring operations increased by 20% in 2007.
Following growth of 30% in 2006, the Group share of net profit increased by 8% in 2007. This increase is due to the change in net financial income, which in 2006 included a high level of capital gains on divestments.
Bernard Arnault, Chairman and CEO of LVMH, commented:
“The excellent performance in 2007 illustrates the vitality of our major brands which continue to strengthen and gain market share. The year also confirmed the strong potential of our high growth rising star brands and the Group's leading position in emerging markets.
LVMH has showed record revenue in 2007 and has once again improved profitability. In an economic environment unsettled since the beginning of the year, we will rely on the strength of our growth model, the exceptional innovation of our brands and the talentof our teams to make 2008 another year of growth.”
The current operating margin again improved, reaching 22% in 2007. Revenue rose to 16.5 billion Euros, reflecting organic growth of 13% to which all business groups and all regions contributed.
This performance is even more noteworthy in view of the strong negative impact of exchange rates, which mainly affected the second half of the year. At constant exchange rates, profit from recurring operations increased by 20% in 2007.
Following growth of 30% in 2006, the Group share of net profit increased by 8% in 2007. This increase is due to the change in net financial income, which in 2006 included a high level of capital gains on divestments.
Bernard Arnault, Chairman and CEO of LVMH, commented:
“The excellent performance in 2007 illustrates the vitality of our major brands which continue to strengthen and gain market share. The year also confirmed the strong potential of our high growth rising star brands and the Group's leading position in emerging markets.
LVMH has showed record revenue in 2007 and has once again improved profitability. In an economic environment unsettled since the beginning of the year, we will rely on the strength of our growth model, the exceptional innovation of our brands and the talentof our teams to make 2008 another year of growth.”
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