Growth continues for LVMH through first half

Worldwide
Published:  27 July, 2022
Credit: Loewe

Louis Vuitton Moët Hennessy (LVMH) has reported its financial results for the first quarter of the 2022 financial year.

The group achieved recorded revenue of €36.7 billion, up 28% compared to the same period in 2021. In the second quarter on its own, revenue increased by 27%.

Profit from recurring operations was up 34% at €10.24 billion for the first half of 2022, while operating margin reached 27.9% of revenue. Group share of net profit was €6.5 billion, up 23%.

In the Fashion & Leather Goods business group, the company recorded organic revenue growth of 24% in the first half of the year, with profit from recurring operations up 33%.

The group noted key “remarkable” performances from Louis Vuitton, Christian Dior, Fendi, Celine, Loro Piana and Loewe.

Looking forward to the rest of the year, the group has said it will maintain a strategy focused on continuously strengthening the desirability of its brands, by relying on the exceptional quality of its products and the excellence of their distribution, given the complex geopolitical environment and ongoing Covid-19 issues.

Bernard Arnault, Chairman and CEO of LVMH, said: “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.”