Revenue increased by 12% in the fourth quarter, compared to the same period in 2011, with organic revenue growth of 8%. The last quarter saw a modest increase in growth compared to the third quarter of 2012.
Profit from recurring operations increased by 13% to €5 921 million, a performance which is even more remarkable when compared to the strong growth in 2011. Current operating margin was 21% in 2012. Group share of net profit was €3 424 million, an increase of 12% compared to 2011.
Bernard Arnault, Chairman and CEO of LVMH, said: "2012 was another remarkable year for LVMH, especially in the context of the economic slowdown in Europe. All of our businesses demonstrated excellent momentum driven by innovation and the quality of their products, thereby strengthening their positions in traditional markets while continuing to develop in new ones. Looking beyond the appeal of our brands, it is the talent of our teams and their motivation that enables us to so effectively execute our strategy. In 2013, LVMH intends to further strengthen its global leadership position in high quality products by relying on its sound, long-term strategy."
Selective Retailing: rapid growth thanks to its innovative product and service offering
The Selective Retailing business group recorded organic revenue growth of 14% in 2012. Profit from recurring operations increased by 19%. Due to its strong commitment to the quality of its stores, DFS benefitted from momentum among Asian customers. Three major concessions were won in 2012 at Hong Kong Airport and the concession at Los Angeles Airport was renewed. The opening in Hong Kong of a third Galleria is also a key highlight of the year. Sephora continued to achieve an excellent level of performance and made market share gains across all its regions.
Online revenue is growing strongly. In Europe, new stores opened for the first time in Denmark and Sweden. In the United States, the renovation of several flagship stores in New York strengthened the appeal of the brand. Sephora continued its expansion in China while accelerating the renovation of its existing network. Its first stores were opened in the high potential markets of Brazil and India.