LVMH 2021 Earnings Surged as Top Line Keeps Gaining Pace

   By Joshua Kirby 
 

LVMH Moet Hennessy Louis Vuitton SE said Thursday that revenue growth continued to accelerate at the end of 2021, leading to a much higher profit as the French luxury-goods giant confirmed its recovery from the pandemic period.

Total yearly sales came to 64.22 billion euros ($72.19 billion), rising 14% organically from EUR53.67 billion in 2019, before the global pandemic struck. Analysts had expected total sales of EUR62.51 billion, according to a FactSet-compiled consensus.

In the fourth quarter, revenue was 22% higher than in the same period of 2019, accelerating from an 11% increase the previous quarter. The core fashion and leather-division once more drove growth, booking more than 50% higher revenue over two years, LVMH said.

Net profit for the year stood at EUR12.04 billion, almost tripling on year, thanks in part to an operating margin that climbed to 26.7% of revenue.

LVMH said it is confident of maintaining the pace of growth in 2022, and that it will propose a dividend of EUR10 a share at April's shareholders' meeting. This included an interim payment of EUR3 distributed in December, the company said.

Write to Joshua Kirby at [e-mail]; @joshualeokirby

(END) Dow Jones Newswires

January 27, 2022 12:26 ET (17:26 GMT)

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