Paris, 9 October 2017
LVMH Moët Hennessy Louis Vuitton,
the world's leading luxury products group, recorded a 14% increase
in revenue, reaching €30.1 billion, for the first nine months of
2017. Organic revenue grew 12% compared to the same period in
2016.
With organic revenue growth of
12%, the third quarter continues the trend recorded in the first
part of the year. Revenue increased by 14%, including a negative
currency impact of 5% and a positive structural impact of 7%,
reflecting notably the integration of Christian Dior Couture. All
business groups recorded double-digit organic growth, with the
exception of Wines and Spirits, whose progress was limited by
supply constraints.
Revenue by business group:
In million euros |
9 months 2017 |
9 months 2016 |
Change 2017 / 2016
First 9 months
Reported
Organic* |
Wines & Spirits |
3 514 |
3 281 |
+ 7 % |
+ 8 % |
Fashion & Leather Goods |
10 838 |
8 991 |
+ 21 % |
+ 14 % |
Perfumes & Cosmetics |
4 065 |
3 578 |
+ 14 % |
+ 14 % |
Watches & Jewelry |
2 789 |
2 486 |
+ 12 % |
+ 13 % |
Selective Retailing |
9 335 |
8 283 |
+ 13 % |
+ 12 % |
Other activities & eliminations |
(446) |
(293) |
ns |
ns |
Total |
30 095 |
26 326 |
+ 14 % |
+ 12 % |
* With comparable
structure and constant exchange rates. The
exchange rate impact was -1% and the structural impact was
+3%.
The Wines &
Spirits business group recorded organic revenue growth of 8% in
the first nine months of 2017. Champagne volumes were up 4%, with
particularly strong demand in Europe and Japan. Hennessy cognac has
been performing well since the beginning of the year. The volume
increase was 9% for the first nine months of 2017, despite a third
quarter decline related to supply constraints. Higher qualities
progressed well.
The Fashion &
Leather Goods business group recorded organic revenue growth of
14% for the first nine months of 2017. Louis Vuitton is still
driven by its exceptional strength in the field of innovation,
illustrated by its first smart watch and the many creations across
all of its activities. The qualitative development of its
distribution network continues, as illustrated by the opening of
the Maison Louis Vuitton Vendôme in Paris, which brings together
under one roof all the savoir-faire of the Maison. Christian Dior
Couture, whose business is consolidated for the first time in the
third quarter, achieved an excellent performance. A retrospective
at the Museum of Decorative Arts in Paris, which has had tremendous
success, celebrates the 70th anniversary of the Maison. Fendi is
stepping up its development in the United States with the opening
of several new stores. Loro Piana, Céline and Loewe are making good
progress. Rimowa has been consolidated since January 2017 while
Donna Karan was sold at the end of 2016.
The Perfumes
& Cosmetics business group recorded organic revenue growth
of 14% for the first nine months of 2017. Parfums Christian Dior
continued its strong performance. Perfumes benefited from the
continued success of J'adore, Sauvage, and from the launch of the eau de parfum
Miss Dior. In makeup, the range of Rouge Dior lipstick grew rapidly. Guerlain rolled out
its new Mon Guerlain fragrance
internationally. Parfums Givenchy continued its strong expansion,
driven by makeup. Fenty Beauty by Rihanna, distributed exclusively
at Sephora, experienced an exceptional start.
The Watches &
Jewelry business group recorded organic revenue growth of 13%
for the first nine months of 2017. Bvlgari achieved a remarkable
performance thanks in particular to the rapid growth of its
signature jewelry collections Serpenti,
Diva and B.Zero1. The
launch of the new Festa high-end jewelry line
was one of the highlights of the last quarter. Chaumet and Fred
also contributed to the overall positive performance. In watches,
TAG Heuer and Hublot continue to grow. The new products launched at
the Basel trade show have had excellent results.
The Selective
Retailing business group recorded organic revenue growth of 12%
for the first nine months of 2017. Sephora continues to renovate
its stores and expand its store network. After France, Sephora
launched its new store concept in Spain with two new innovatively
designed flagship stores, placing digital at the heart of the
customer experience. Online sales are growing at a steady pace. DFS
is experiencing sustained growth, particularly in Hong Kong and
Macao. The T Galleria stores in Cambodia and Venice have developed
well.
Outlook
In an uncertain geopolitical and currency environment, LVMH will
continue to be vigilant. The Group will pursue its strategy focused
on innovation and targeted geographic expansion in the most
promising markets. LVMH will rely on the power of its brands and
the talent of its teams to further extend its global leadership in
the luxury market in 2017.
Except for the
acquisition of Christian Dior Couture in July 2017, details of
which are set out on page 52 of the 2017 Interim Financial Report,
no material event or change took place during the quarter or
to-date that would significantly affect the Group's financial
structure.
Regulated information related to this press
release and presentation is available on www.lvmh.fr
ANNEX
LVMH - Revenue by
business group and by quarter
2017 Revenue
(Euro millions)
FY 2017 |
Wines
& Spirits |
Fashion
& Leather Goods |
Perfumes
& Cosmetics |
Watches
& Jewelry |
Selective
Retailing |
Other
activities & eliminations |
Total |
First
Quarter |
1
196 |
3
405 |
1
395 |
879 |
3
154 |
(145) |
9 884 |
Second Quarter |
1 098 |
*3 494 |
1 275 |
959 |
3 126 |
(122) |
*9 830 |
Total First Half |
2 294 |
6 899 |
2 670 |
1 838 |
6 280 |
(267) |
19 714 |
Third Quarter |
1 220 |
3 939 |
1 395 |
951 |
3 055 |
(179) |
10 381 |
Nine months |
3 514 |
10 838 |
4 065 |
2 789 |
9 335 |
(446) |
30 095 |
* Includes all Rimowa revenue for
the first half of 2017.
2017 Revenue
(Organic growth versus same period of 2016)
FY 2017 |
Wines
& Spirits |
Fashion
& Leather Goods |
Perfumes
& Cosmetics |
Watches
& Jewelry |
Selective
Retailing |
Other
activities & eliminations |
Total |
First
Quarter |
+13% |
+15% |
+12% |
+11% |
+11% |
- |
+13% |
Second Quarter |
+6% |
+13% |
+13% |
+14% |
+12% |
- |
+12% |
Total First Half |
+10% |
+14% |
+12% |
+13% |
+12% |
- |
+12% |
Third Quarter |
+4% |
+13% |
+17% |
+14% |
+14% |
- |
+12% |
Nine months |
+8% |
+14% |
+14% |
+13% |
+12% |
- |
+12% |
2016 Revenue
(Euro millions)
FY 2016 |
Wines
& Spirits |
Fashion
& Leather Goods |
Perfumes
& Cosmetics |
Watches
& Jewelry |
Selective
Retailing |
Other
activities & eliminations |
Total |
First
Quarter |
1
033 |
2
965 |
1
213 |
774 |
2
747 |
(112) |
8 620 |
Second Quarter |
1 023 |
2 920 |
1 124 |
835 |
2 733 |
(67) |
8 568 |
Total First Half |
2 056 |
5 885 |
2 337 |
1 609 |
5 480 |
(179) |
17 188 |
Third Quarter |
1 225 |
3 106 |
1 241 |
877 |
2 803 |
(114) |
9 138 |
Nine months |
3 281 |
8 991 |
3 578 |
2 486 |
8 283 |
(293) |
26 326 |
LVMH
LVMH Moët Hennessy Louis Vuitton is represented in
Wines and Spirits by a portfolio of brands that includes Moët &
Chandon, Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart,
Mercier, Château d'Yquem, Domaine du Clos des Lambrays, Château
Cheval Blanc, Hennessy, Glenmorangie, Ardbeg, Belvedere,
Woodinville, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des
Andes, Cape Mentelle, Newton, Bodega Numanthia and Ao Yun.
Its Fashion and Leather Goods division includes
Louis Vuitton, Christian Dior Couture, Céline, Loewe, Kenzo,
Givenchy, Thomas Pink, Fendi, Emilio Pucci, Marc Jacobs, Berluti,
Nicholas Kirkwood, Loro Piana and Rimowa. LVMH is present in the
Perfumes and Cosmetics sector with Parfums Christian Dior,
Guerlain, Parfums Givenchy, Kenzo Parfums, Perfumes Loewe, BeneFit
Cosmetics, Make Up For Ever, Acqua di Parma, Fresh, Kat Von D and
Maison Francis Kurkdjian. LVMH's Watches and Jewelry division
comprises Bvlgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred
and Hublot. LVMH is also active in selective retailing as well as
in other activities through DFS, Sephora, Le Bon Marché, La
Samaritaine, Royal Van Lent and Cheval Blanc hotels.
"Certain
information included in this release is forward looking and is
subject to important risks and uncertainties and factors beyond our
control or ability to predict, that could cause actual results to
differ materially from those anticipated, projected or implied. It
only reflects our views as of the date of this presentation. No
undue reliance should therefore be based on any such information,
it being also agreed that we undertake no commitment to amend or
update it after the date hereof."
Contacts: |
|
|
Analysts
and investors: |
Chris
Hollis
LVMH |
+ 33 1.4413.2122 |
|
|
|
Media: |
|
|
|
Jean-Charles Tréhan |
+33 1 4413.2026 |
|
LVMH |
|
|
|
|
France : |
Michel
Calzaroni/Olivier Labesse/
Thomas Roborel de Climens/Hugues Schmitt |
+ 33 1.4070.1189 |
|
DGM Conseil |
|
UK: |
Hugh
Morrison / Charlotte McMullen |
+44 7921.881.800 |
|
Montfort Communications |
|
Italy: |
Michele
Calcaterra/ Matteo Steinbach |
+39 02 6249991 |
|
SEC and Partners |
|
US: |
James
Fingeroth/Molly Morse/
Anntal Silver |
+1 212.521.4800 |
|
Kekst & Company |
|
PDF Version
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: LVMH via Globenewswire
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