CAC40 stock of the day : LVMH, quarterly results exceeding forecasts
In the first nine months of 2022, LVMH generated revenue of 56.5 billion euros, up 28% based on published figures. Organic revenue growth was 20%.
In the third quarter, the organic growth of the world’s leading luxury goods company was 19% to 19.76 billion euros. This was higher than analysts’ forecasts. “Europe, the United States and Japan, which have grown strongly since the beginning of the year, are benefiting from solid demand from local customers and the recovery in international travel,” the company commented.
“Asia (including China) is seeing less growth in the first nine months of 2022 although the last quarter is improving thanks to the partial easing of health restrictions.”
In detail, in the third quarter of 2022, Fashion and Leather Goods posted organic growth of 22% to 9.69 billion euros. Wines & Spirits grew by 14% to 1.9 billion euros. Perfumes & Cosmetics grew by 10% on a comparable basis to 1.96 billion euros. Watches & Jewellery grew by 16% to 2.67 billion euros. Finally, Selective Retailing grew by 15% to 3.46 billion euros.
“Despite an uncertain geopolitical and economic context, the group is confident in the continuation of its current growth and will maintain a policy of cost control and selective investments”, says LVMH.
Read also > LVMH pays an exceptional anti-inflation bonus
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