LVMH delivers record H1 performance

France
Published:  27 July, 2021
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The French luxury conglomerate Moët Hennessy Louis Vuitton recorded revenue of €28.7 billion in the first half of 2021, up 56% compared to the same period in 2020. Organic revenue growth was 53% compared with 2020 and 11% compared with 2019. This performance reflects accelerated growth in the second quarter of 2021, which saw organic revenue increase by 14% compared to 8% in the first quarter.

The group saw remarkable performances in the Fashion & Leather Goods business group, particularly Louis Vuitton, Christian Dior, Fendi, Loewe and Celine which are gaining market share across all geographies and achieving record levels of revenue and profitability. The business group recorded organic revenue growth of 81% in the first half of 2021 compared to the same period of 2020. Organic revenue growth compared to the first half of 2019 was 38%. Profit from recurring operations was up 74% compared with the first half of 2019 and represents more than three times that of 2020.

Profit from recurring operations was €7.63 billion for the first half of 2021, up 44% compared to the first half of 2019 and more than four times higher than that of 2020. Operating margin reached 26.6%, up 5.5 points compared to 2019. Profit from recurring operations for the Fashion & Leather Goods business group stood at €5.66 billion for the first half, more than three times that of 2020, and up 74% compared to 2019. Group share of net profit amounted to €5.29 billion, up 62% compared to 2019 and 10 times higher than 2020. Operating free cash flow exceeded €5 billion, more than three times that of 2019.