Louis Vuitton
Bernard Arnault, Chairman and CEO of LVMH
Bernard Arnault, Chairman and CEO of LVMH, said: “LVMH achieved outstanding results during a six-month period of ongoing economic and geopolitical uncertainty. The strong creative momentum and excellent distribution of our Maisons continued to inspire dreams, as demonstrated by the enthusiastic reception given to Pharrell Williams’ first fashion show for Louis Vuitton as well as the reopening of the New York “Landmark” of Tiffany & Co. We continued to see progress relating to our environmental, social and societal commitments, most notably in the recent announcement of an ambitious water sobriety plan intended to reduce our overall water consumption footprint by 30% by 2030. Thanks to the desirability of our brands, we approach the second half of the year with confidence and optimism but will remain vigilant within the current environment and count on the agility and talent of our teams to further strengthen our global leadership position in luxury goods in 2023.”
Highlights of the first half of 2023 include:
LVMH Moët Hennessy Louis Vuitton, the world’s leading high-quality products group, recorded revenue of €42.2 billion in the first half of 2023, up 15%. Organic revenue growth was 17% compared to the same period in 2022. All business groups achieved double-digit organic revenue growth over the half year, except for Wines & Spirits, which faced a particularly high basis of comparison.
In the second quarter, organic revenue growth was 17%, in line with trends seen in the first quarter.
Profit from recurring operations for the first half of 2023 was up 13% at €11 574 million. Operating margin reached 27.4% of revenue. Group share of net profit was up 30% at €8 481 million.
In an uncertain geopolitical and economic environment, the Group 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.
Our strategy of focusing on the highest quality across all of our activities, combined with the energy and unparalleled creativity of our teams, will enable us to reinforce LVMH's global leadership position in luxury goods once again in 2023.
An interim dividend of €5.50 will be paid on Wednesday, December 6th, 2023.
LVMH has become a Premium Partner of the Paris 2024 Olympic and Paralympic Games and will share its creative excellence and craftsmanship for key celebratory moments during the Olympic and Paralympic Games. This global event resonates with the Group’s mission, ‘The Art of Crafting Dreams’. As creative partner of the Games, LVMH will play a major role by sharing the excellence and craftsmanship of its artisans for key celebratory moments throughout Paris 2024. This unprecedented collaboration will contribute to heightening the appeal of France and Paris around the world. It carries on the dynamic support that LVMH and its Maisons have for many years provided for high-level sports and the most prestigious international competitions.
After most of the world’s stock markets ended 2022 in negative territory, the CAC 40 had a positive first half of 2023, continuing the rally that had begun in the fall and even reaching an all-time high in April.
However, there was a degree of volatility in the early part of the year, against a backdrop of sharply rising central bank interest rates, stubborn inflation and the ongoing military conflict in Ukraine. But investors were not put off by the wave of panic that swept the banking sector following failures of regional banks in the US and Credit Suisse in Europe, the slower-than-expected recovery in the Chinese economy or the prospect of recession in Europe and the United States, with the main stock markets posting overall gains.
The CAC 40 and the Euro Stoxx 50 gained 14% and 16%, respectively, in the first half of the year, in line with the S&P 500 (up 16%) but behind the Nasdaq, boosted by tech stocks (up 32%). France’s CAC 40 index was buoyed by strong performance in the luxury and consumer goods sectors. LVMH – the largest company in the CAC 40 by market capitalization – ended the first half of the year up 27%. LVMH’s market capitalization topped 400 billion euros in April 2023, a first for a European listed company.
+27% +14%
€863
€433bn
Listed on Eurolist by Euronext Paris
CAC 40, Dow Jones Euro Stoxx 50, MSCI Europe, FTSE Eurotop 100, Global Dow and FTSE4Good.
An LVMH shareholder who invested €1,000 on July 1, 2018 would have a capital of €3,262 on June 30, 2023, based on reinvested dividends. This represents more than a threefold increase over five years, equating to an average annual return of around 26.7%.
Galerie Dior, 30 Montaigne, Paris
The LVMH Shareholders’ Club was set up in 1994 to give individual shareholders who are particularly interested in the life of the Group a better understanding of LVMH, its businesses and its brands.
The LVMH Shareholders’ Club can be joined free of charge by any shareholder who owns at least one LVMH share listed on the Paris stock exchange.
We send Club members several publications to keep them informed of the latest news about our Maisons, such as the Annual Report, the twice-annual Letter to Shareholders and the annual issue of Apartés, our Club magazine.
Chaumet, the 12 Vendôme, Paris, France
Throughout the year, the LVMH Shareholders’ Club holds exceptional in-person and virtual private tours of a number of its Maisons, such as Louis Vuitton’s workshops in Asnières, the Dior 30 Montaigne boutique and la Galerie Dior, the historic La Samaritaine department store by the Pont Neuf, the Maison Chaumet or the Guerlain 68 Champs-Élysées flagship in Paris. Club members can also reserve guided tours of unique sites such as Hennessy’s centuries-old cellars in Cognac, Veuve Clicquot and Ruinart’s magnificent crayères in Reims, as well as Moët & Chandon and Mercier’s champagne cellars in Epernay.
In addition to special offers on a selection of the Group’s wines and spirits, for delivery in France only, Club members can purchase discounted subscriptions to Group media publications – Les Echos, Investir, Le Parisien and Connaissance des Arts – and order priority-access tickets for the Fondation Louis Vuitton.
The detailed program of the Club’s visits as well as the exclusive offer of wines and spirits, subscriptions to the Group’s newspapers and magazines and tickets to the Fondation Louis Vuitton are available via the Club’s website at www.clublvmh-actionnaires.fr/en. This private online space, dedicated to Club members, can be accessed once they have created their account.
Tuesday, July 25, 2023 |
2023 half-year results |
|---|---|
October 2023 |
2023 third-quarter revenue |
Wednesday, December 6, 2023 |
Payment of an interim dividend (last trading day with dividend rights: December 1st, 2023) |
January 2024 |
2023 annual results |
Thursday, April 18, 2024 |
Annual Shareholders’ Meeting |
LVMH takes VivaTech 2023 visitors on a journey in its Dream Box and LVMH Court.
Founding partner of VivaTech, LVMH once again showcased its Maisons’ and partner startups’ innovations during the event’s 7th edition held June 14-17 at Paris Expo Porte de Versailles.
Since its inception in 2016, VivaTech has become the biggest startup and tech event in Europe. This year, no fewer than 18 LVMH Maisons present 25 innovations in two dedicated spaces: The Dream Box & The LVMH Court.
The Dream Box is a spectacular setting of subtly changing colors in which the Group and its Maisons showcase some of the innovations that contribute to the LVMH’s mission to Craft Its Customers’ Dreams. The Dream Box is also home to the 18 finalist startups of the 2023 LVMH Innovation Award, as well as six alumni startups whose solutions have already helped enhanced the customer experience of tomorrow.
For the very first time at VivaTech, LVMH has set up the LVMH Court, a space entirely dedicated to innovation in sports.
At Viva Technology, LVMH presented its new immersive 3D website, The Journey. The purpose of this website is to showcase the Group’s and its Maisons’ innovations.
Discover the introductory film of the
LVMH Innovation Awards ceremony.
The LVMH website (www.lvmh.com) gives access to a wide range of regularly updated information on the Group and its Maisons. A section specially aimed at the financial community and LVMH shareholders features the share price in real time, its chart relative to the CAC 40, the events schedule, press releases and presentations, in particular the Shareholders’ Meeting, which can be watched live or on replay.
Communications media can be viewed in the Publications section along with the Annual Report, the Social and Environmental Responsibility Report. LVMH also sends out Group news by email to web users who sign up for Press Release and Letter to Shareholders alerts. Lastly, a Calendar alert is available for those wishing to be advised of updates to this section and receive an email reminder the day before an event.
Investor and Shareholder Relations
Phone: +33 (0)1 44 13 27 27
Shareholders’ Club
Phone: +33 (0)1 44 13 21 50
E-mail: clubactionnaires@lvmh.com