WINES & SPIRITSVERY STRONG DEMAND IN THE UNITED STATES, IN ASIA AND REBOUND IN EUROPE
Hennessy
Revenue €5,974m +9% vs 2019(1) +26% vs 2020(1)
Profit from recurring operations €1,863m +8% vs 2019 +34% vs 2020
Operating margin 31.2%
(1) With comparable structure and constant exchange rates.
Hennessy
The Wines & Spirits business group recorded organic revenue growth of 26% in 2021 compared to 2020 and 9% compared to 2019. Profit from recurring operations was up 34% compared to 2020.
The rebound in consumption, in an environment which was already seeing supply constraints, brought further impetus to the strategy of value creation. Champagne volumes were up compared to 2019. Growth was particularly strong in the United States and Europe, which benefited from the reopening of restaurants and the gradual recovery in regional tourism. The year marked the integration, from the third quarter onwards, of the prestigious Champagne House Armand de Brignac, in which LVMH holds a 50% stake. Hennessy cognac performed well with an increase in volumes compared to 2019, despite supply constraints. China and the United States experienced a strong rebound. Within the flourishing market for high-end rosé wines, Château d'Esclans enjoyed rapid growth and Château Galoupet continued its conversion to organic viticulture.