Louis Vuitton
Bernard Arnault, Chairman and CEO of LVMH
Bernard Arnault, Chairman and CEO of LVMH, said: “The results for the first half of the year reflect LVMH’s remarkable resilience, backed by the strength of its Maisons and the responsiveness of its teams in a climate of economic and geopolitical uncertainty. Driven as ever by our dual focus on desirability and responsibility, we have continued to work towards achieving the targets set out in our environmental and social action programs. In a year marked by our partnership with the Paris 2024 Olympic and Paralympic Games, we are honored to share our creativity, excellent craftsmanship and deep commitment to society to make this event a resounding success and an opportunity for France to shine on the world stage. While remaining vigilant in the current context, the Group approaches the second half of the year with confidence, and will count on the agility and talent of its teams to further strengthen its global leadership position in luxury goods in 2024.”
Highlights of the first half of 2024 include:
LVMH Moët Hennessy Louis Vuitton, the world’s leading high-quality products group, recorded revenue of €41.7 billion in the first half of 2024. Growth continued over the period (2% organic growth) despite a geopolitical and economic environment that remained uncertain. Europe and the United States achieved growth on a constant consolidation scope and currency basis; Japan recorded double-digit revenue growth; the rest of Asia reflected the strong growth in spending by Chinese customers in Europe and Japan. In the second quarter, organic revenue growth was 1%.
Profit from recurring operations for the first half of 2024 came to €10.7 billion, equating to an operating margin of 25.6%, significantly exceeding pre-Covid levels. Exchange rate fluctuations had a substantial negative impact on the half-year period. The Group share of net profit amounted to €7.3 billion.
In an uncertain geopolitical and economic environment, the Group remains confident and will maintain a strategy focused on continuously enhancing the desirability of its brands, drawing on the exceptional quality of its products and excellence in retail.
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 the LVMH Group’s global leadership position in luxury goods once again in 2024.
An interim dividend of €5.50 will be paid on Wednesday, December 4, 2024.
After an exceptional 2023, global stock markets initially maintained their momentum in the first half of 2024, buoyed by hopes of monetary easing and the resilience of the global economy, before gradually slowing down.
While the US equity market continued to gain ground, powered by Artificial Intelligence stocks, the situation in Europe was more muted. Falling inflation and stronger-than-expected corporate earnings helped drive the main indices higher in the early part of the half-year period. However, questions over the timing of central bank cuts to key interest rates in the face of persistent US inflation saw markets become more nervous again as the period drew to a close.
Despite having exceeded 8,200 points for the first time in May, the CAC 40 ended the half-year 0.8% lower, losing almost 500 points after snap parliamentary elections were called in France in June. Meanwhile, the Euro Stoxx 50 and the DAX gained 8.2% and 8.9%, respectively, from January 1, 2024. LVMH’s share price ended the period 2.7% lower, with LVMH maintaining its place as the largest company by market capitalization in the CAC 40.
-2.7% -0.8%
€714
€357bn
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, 2019 would have a capital of €2,051 on June 30, 2024, based on reinvested dividends. This represents a twofold increase over five years, equating to an average annual return of around 15.4%.
Louis Vuitton Family house and Asnières workshops, France
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.
Guerlain, 68 Champs Elysées, Paris
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.
Tuesday, July 23, 2024 |
2024 half-year results |
|---|---|
October 2024 |
2024 third-quarter revenue |
Wednesday, December 4, 2024 |
Payment of an interim dividend (last trading day with dividend rights: November 29, 2024) |
January 2025 |
2024 annual results |
Thursday, April 17, 2025 |
Annual Shareholders’ Meeting |
A creative partnership making LVMH the Artisan of All Victories!
The Art of Crafting Dreams, the mission of the LVMH Group.
To dream, we need inspiration. And what more magnificent inspiration could there be than the values of excellence, courage, hard work, self-sacrifice, team spirit and inclusiveness that define the world of sports? Sports, athletes and major events – including the most spectacular of all, the Olympic and Paralympic Games – inspire dreams, excitement and bonds among millions of people around the world. And what more beautiful place than Paris, the ancestral home to so many LVMH Maisons, to celebrate France and its exceptional savoir-faire on the global stage?
LVMH’s partnership with Paris 2024 is both exceptional and highly creative. It has been shaped by something that makes the heart of LVMH and its artisans beat faster than anything else: creativity. Creativity is the cornerstone of LVMH’s contribution to these Olympic and Paralympic Games, marking a memorable milestone in our history. This is about applying all the passion and skills of our artisans for this incredible competition. Thanks to our talented craftspeople, LVMH will be the Artisan of All Victories.
LVMH’s partnership with Paris 2024 is multifaceted. Several of our iconic Maisons are playing high-profile roles to ensure that French savoir-faire shines brightly during defining moments of the Paris 2024 festivities, including Berluti, Chaumet, Dior, Louis Vuitton, Moët Hennessy and Sephora, the Official Partner of the Olympic and Paralympic Torch Relays. LVMH is also supporting athletes who will compete under the colors of France and will be present at the Champions Park and Club France, in addition to initiatives reflecting the Group’s broad social engagement. Learn more about LVMH’s exclusive partnership with Paris 2024!
LVMH unveils its “The Rooftops” campaign, filmed under real-life conditions by Louis de Caunes. The magic of the event naturally springs from the thrill of the competition, amazing performances by athletes and records broken during each edition of the Games. But 2024 promises to bring something extra special, elevated by the unrivalled setting of the host city, Paris!
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