LVMH's Stellar Returns
LVMH just published its results.
And guess what? They were very good. The stock is up almost 9% today.
Let’s dig into the results and tell you everything you need to know.
LVMH
LVMH is a global producer and distributor of luxury goods.
The French company is a dominant force in the luxury industry with a diverse portfolio of brands that cover a wide range of consumer products and experiences.
LVMH operates more than 5,000 stores around the world. They are the second largest company in Europe after Novo Nordisk.
2023 Results
In general, LVMH’s results were great.
Growth accelerated again during the last quarter of 2023 (something we love to see).
Key takeaways:
Revenue: €86.2 billion (13% organic growth versus 2022)
Profit from recurring operations: €22.8 billion (+8% compared to 2022)
Net profit: €15.2 billion (+8% compared to 2022)
Double-digit organic revenue growth in Europe, Japan, and the rest of Asia
Negative currency impact in the second half of the year
LVMH will propose a dividend of €13 per share (dividend yield: 1.9%)
Here’s what the results per segment look like:
Now let’s dive into the earnings call and update our investment case of LVMH.