LVMH: 12% ORGANIC REVENUE GROWTH IN THE FIRST NINE MONTHS OF 2017
(Thomson Reuters ONE) -
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 &| (446)| (293)| ns| ns|
|eliminations | | | | |
+-------------------------+-------------+-------------+------+-----------------+
|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)
-------------------------------------------------------------------------------
Fashion Watches Other
FY 2017 Wines & & Perfumes & & Selective activities & Total
Spirits Leather Cosmetics Jewelry Retailing eliminations
Goods
-------------------------------------------------------------------------------
First 1 196 3 405 1 395 879 3 154 (145) 9 884
Quarter
Second 1 098 *3 494 1 275 959 3 126 (122) *9 830
Quarter
-------------------------------------------------------------------------------
Total
First 2 294 6 899 2 670 1 838 6 280 (267) 19 714
Half
-------------------------------------------------------------------------------
Third 1 220 3 939 1 395 951 3 055 (179) 10 381
Quarter
-------------------------------------------------------------------------------
Nine 3 514 10 838 4 065 2 789 9 335 (446) 30 095
months
-------------------------------------------------------------------------------
* Includes all Rimowa revenue for the first half of 2017.
2017 Revenue (Organic growth versus same period of 2016)
-------------------------------------------------------------------------------
Fashion Watches Other
FY 2017 Wines & & Perfumes & & Selective activities & Total
Spirits Leather Cosmetics Jewelry Retailing eliminations
Goods
-------------------------------------------------------------------------------
First +13% +15% +12% +11% +11% - +13%
Quarter
Second +6% +13% +13% +14% +12% - +12%
Quarter
-------------------------------------------------------------------------------
Total
First +10% +14% +12% +13% +12% - +12%
Half
-------------------------------------------------------------------------------
Third +4% +13% +17% +14% +14% - +12%
Quarter
-------------------------------------------------------------------------------
Nine +8% +14% +14% +13% +12% - +12%
months
-------------------------------------------------------------------------------
2016 Revenue (Euro millions)
-------------------------------------------------------------------------------
Fashion Watches Other
FY 2016 Wines & & Perfumes & & Selective activities & Total
Spirits Leather Cosmetics Jewelry Retailing eliminations
Goods
-------------------------------------------------------------------------------
First 1 033 2 965 1 213 774 2 747 (112) 8 620
Quarter
Second 1 023 2 920 1 124 835 2 733 (67) 8 568
Quarter
-------------------------------------------------------------------------------
Total
First 2 056 5 885 2 337 1 609 5 480 (179) 17 188
Half
-------------------------------------------------------------------------------
Third 1 225 3 106 1 241 877 2 803 (114) 9 138
Quarter
-------------------------------------------------------------------------------
Nine 3 281 8 991 3 578 2 486 8 283 (293) 26 326
months
-------------------------------------------------------------------------------
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 + 33 1.4413.2122
LVMH
Media:
Jean-Charles Tréhan +33 1 4413.2026
LVMH
France : Michel Calzaroni/Olivier Labesse/ + 33 1.4070.1189
Thomas Roborel de Climens/Hugues
Schmitt
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/ +1 212.521.4800
Anntal Silver
Kekst & Company
PDF Version:
http://hugin.info/143740/R/2140591/819715.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
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
Unternehmensinformation / Kurzprofil:
Datum: 09.10.2017 - 18:00 Uhr
Sprache: Deutsch
News-ID 562932
Anzahl Zeichen: 14922
contact information:
Town:
Paris
Kategorie:
Business News
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