The company’s operating margin remained at the same level as FY21. Furthermore, the operating free cash flow surpassed €10 billion in FY22, LVMH said in a press release.
Leading luxury goods group based in France LVMH Moet Hennessy Louis Vuitton has reported a revenue growth of 23 per cent year-on-year (YoY) to €79.2 billion in financial year 2022 (FY22). Profit from recurring operations was €21.1 billion in FY22, up by 23 per cent. The company’s group share of net profit was €14.1 billion, up 17 per cent compared to FY21.
LVMH’s fashion and leather goods notably reached record levels, with revenue growth of 25 per cent in FY22 (20 per cent on an organic basis). Profit from recurring operations was up 22 per cent.
In FY22, Louis Vuitton’s revenue surpassed €20 billion, for the first time.
LVMH’s Le Bon Marché continued to develop innovative concepts and benefit from the return of loyal French customers and international travellers.
The company’s business in Europe, the US, and Japan rose sharply, benefiting from strong demand from local customers and the recovery of international travel. Asia was stable over the year due to developments in the health situation in China.
Bernard Arnault, chairman and CEO of LVMH, said: “Our performance in 2022 illustrates the exceptional appeal of our masons and their ability to create desire during a year affected by economic and geopolitical challenges. The group once again recorded significant growth in revenue and earnings. Our growth strategy, based on the complementary nature of our activities, as well as their geographic diversity, encourages innovation and the quality of our creations, the excellence of their distribution, and adds a cultural and historical dimension thanks to the heritage of our masons.
“We approach 2023 with confidence but remain vigilant due to current uncertainties. We count on the desirability of our masons and the agility of our teams to further strengthen our lead in the global luxury market and support France’s prestige throughout the world.”
Fibre2Fashion News Desk (DP)