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LVMH Moët Hennessy Louis Vuitton reported record revenue and profit for 2022

Autor: Financial Market
Timp de citit: 2 minute

LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury goods group, recorded revenue of €79.2 billion in 2022 and profit from recurring operations of €21.1 billion, both up 23% compared to 2021.

All business groups achieved significant organic revenue growth over the year. Fashion & Leather Goods notably reached record levels, with organic revenue growth of 20%.

Profit from recurring operations stood at €21.1 billion for 2022, up 23%. Operating margin remained at the same level as 2021.

Group share of net profit was €14.1 billion, up 17% compared to 2021 and operating free cash flow surpassed €10 billion.

Europe, the United States and Japan rose sharply, benefiting from strong demand from local customers and the recovery of international travel. Asia was stable over the year due to developments in the health situation in China.

Highlights of 2022 include:

• A record year despite the geopolitical and economic situation, significant revenue growth for all business groups and market share gains worldwide
• Strong growth in business in Europe, Japan and the United States
Good growth in Champagne and Cognac, based on a value creation strategy
• A remarkable performance by the Fashion & Leather Goods business group, notably Louis Vuitton, Christian Dior, Celine, Fendi, Loro Piana, Loewe and Marc Jacobs, which are gaining market share globally and reaching record levels of revenue and earnings
• Louis Vuitton revenue surpassed 20 billion euros, for the first time
• Strong growth in perfumes. The continued global success of Dior’s Sauvage, once again world leader in 2022
• Sustained creative momentum for all our Watches & Jewelry Maisons, in particular Tiffany, Bulgari and TAG Heuer
• A remarkable rebound for Sephora, which confirmed its place as world leader in the distribution of beauty products
• Operating investments of nearly €5 billion, mainly dedicated to the expansion of the store network, the development of production facilities and employment
Operating free cash flow of more than €10 billion.

One year performance LVMH stock price

Bernard Arnault, Chairman and CEO of LVMH, said: “Our performance in 2022 illustrates the exceptional appeal of our Maisons and their ability to create desire during a year affected by economic and geopolitical challenges.

The Group once again recorded significant growth in revenue and earnings. Our growth strategy, based on the complementary nature of our activities, as well as their geographic diversity, encourages innovation and the quality of our creations, the excellence of their distribution, and adds a cultural and historical dimension thanks to the heritage of our Maisons.

This was showcased during our hugely successful LVMH Journées Particulières, when we opened our doors to all in fifteen countries in 2022 and saw a record number of visitors come to learn about the know-how of our artisans.

We approach 2023 with confidence but remain vigilant due to current uncertainties. We count on the desirability of our Maisons and the agility of our teams to further strengthen our lead in the global luxury market and support France’s prestige throughout the world.

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