The luxury goods giant recorded revenue of EUR 79.2 billion in 2022 and profit from recurring operations of EUR 21.1 billion, both up 23%. The group’s share of net profit totalled EUR 14.08 billion (up 17%).
Sales of LVMH Moët Hennessy Louis Vuitton’s luxury goods rose sharply in Europe, the United States and Japan, benefiting from strong demand from local customers and the recovery of international travel. On the other hand, sales in Asia were stable over the year due to developments in the health situation in China.
All business groups achieved significant organic revenue growth over the year. Fashion & Leather Goods notably reached record levels, with organic revenue growth of 20%. Profit from recurring operations stood at EUR 21.1 billion for 2022, up 23%. Operating margin remained at the same level as 2021. Group share of net profit was EUR 14.1 billion, up 17% compared to 2021. Operating free cash flow surpassed EUR 10 billion.
Selective retailing recorded a remarkable rebound, in particular for Sephora, which confirmed its place as world leader in the distribution of beauty products.
While the Perfumes & Cosmetics business group recorded revenue growth of 17% in 2022 (10% on an organic basis), profit from recurring operations was slightly down “as a result of a very selective policy of distribution to assert itself in the prestige universe,” said LVMH in a statement.