LVMH 2021 Earnings Surged as Top Line Keeps Gaining Pace
January 27 2022 - 12:41PM
Dow Jones News
By Joshua Kirby
LVMH Moet Hennessy Louis Vuitton SE said Thursday that revenue
growth continued to accelerate at the end of 2021, leading to a
much higher profit as the French luxury-goods giant confirmed its
recovery from the pandemic period.
Total yearly sales came to 64.22 billion euros ($72.19 billion),
rising 14% organically from EUR53.67 billion in 2019, before the
global pandemic struck. Analysts had expected total sales of
EUR62.51 billion, according to a FactSet-compiled consensus.
In the fourth quarter, revenue was 22% higher than in the same
period of 2019, accelerating from an 11% increase the previous
quarter. The core fashion and leather-division once more drove
growth, booking more than 50% higher revenue over two years, LVMH
said.
Net profit for the year stood at EUR12.04 billion, almost
tripling on year, thanks in part to an operating margin that
climbed to 26.7% of revenue.
LVMH said it is confident of maintaining the pace of growth in
2022, and that it will propose a dividend of EUR10 a share at
April's shareholders' meeting. This included an interim payment of
EUR3 distributed in December, the company said.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
January 27, 2022 12:26 ET (17:26 GMT)
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