BERNARD ARNAULT

Hennessy

EXCELLENT PERFORMANCE

FOR LVMH IN 2019

|Buoyant market despite uncertain geopolitical context

|Good progress in all geographic regions

|Another record year with double-digit increases in revenue and profit from recurring operations

  • •Revenue: €53.7bn, + 15% (+ 10% organic)

  • •Profit from recurring operations: €11.5bn, + 15%

|Healthy financial position

  • •Operating free cash flow: €6.2bn

  • •Adjusted net debt to equity ratio of16.2%

|Agreement with Tiffany, and integration of Belmond

JEAN-JACQUES

GUIONY

Christian Dior Couture

2019 REVENUE EVOLUTION

In millions of euros

Organic

Structure impact

Currency effect

53 670

The principles used to determine the net impact of exchange rate fluctuations on the revenue of entities reporting in foreign currencies and the net impact of changes in the scope of consolidation are described on page 39 of the 2019 Universal Registration Document.

As table totals are calculated based on unrounded figures, there may be slight discrepancies between these totals and the sum of their component figures.

2020 ANNUAL GENERAL MEETING

6

2019 REVENUE

BY BUSINESS GROUP

In millions of euros

2018

2019

Reported growthOrganic growth*

WINES & SPIRITS

5 143

5 576

+ 8%

+ 6%

Champagne & Wines

2 369

2 507

+ 6%

+ 4%

Cognac & Spirits

2 774

3 069

+ 11%

+ 7%

FASHION & LEATHER GOODS

18 455

22 237

+ 20%

+ 17%

PERFUMES & COSMETICS

6 092

6 835

+ 12%

+ 9%

WATCHES & JEWELRY

4 123

4 405

+7%

+ 3%

SELECTIVE RETAILING

13 646

14 791

+8%

+ 5%

OTHERS & ELIMINATIONS

(633)

(174)

-

-

TOTAL LVMH

46 826

53 670

+ 15%

+ 10%

* With comparable structure and exchange rates. The exchange rate impact was + 3% and the structural impact was + 1% (Belmond integration since April 2019).

INCOME STATEMENT

SUMMARIZED

REVENUE GROSS MARGIN

46 826

53 670

31 201

35 547

+ 15% + 14%

Marketing and selling expenses General and administrative expenses Equity investment income

(17 755)

(20 207)

  • + 14%

    (3 466)

    (3 864)

  • + 11%

23

28

PROFIT FROM RECURRING OPERATIONSOther operating income and expensesOPERATING PROFIT

10 003

11 504

+ 15%

(126)

(231)

9 877

11 273

+ 14%

Net financial income (expense) Income taxes

(388)

(559)

(2 499)

(2 932)

NET PROFIT BEFORE MINORITY INTERESTSMinority interests

6 990

7 782

+ 11%

(636)6 354

(611)7 171

* Incorporating for the first time the effects of the application of IFRS 16 Leases.

In millions of euros

2018

2019*

% Change

GROUP SHARE OF NET PROFIT

+ 13%

2020 ANNUAL GENERAL MEETING

8

PROFIT FROM RECURRING OPERATIONS

BY BUSINESS GROUP

WINES & SPIRITS

1 629

1 729

  • + 6%

    Champagne & Wines Cognac & Spirits

    649

    690

  • + 6%

    980

    1 039

  • + 6%

FASHION & LEATHER GOODS

5 943

7 344

+ 24%

PERFUMES & COSMETICS

676

683

WATCHES & JEWELRY

703

736

SELECTIVE RETAILING

1 382

1 395

+ + +

1% 5% 1%

OTHERS AND ELIMINATIONS

(330)

(383)

Ns

* Incorporating for the first time the effects of the application of IFRS 16 Leases.

In millions of euros

2018

2019*

% Change

TOTAL LVMH

10 003

11 504

+ 15%

SOUND FINANCIAL STRUCTURE

Changes compared to December 31, 2018

In billions of euros

96.5

96.5

  • | Increase in intangible and tangible fixed assets due to consolidation of Belmond, revaluation of purchase commitments for minority interests and investments for the year

  • | Increased inventories resulting from growth in the Group's businesses

  • |Increased total equity primarily linked to strong results

  • | Limited increase of net debt given Belmond acquisition

ASSETS

LIABILITIES

December 31, 2019*

* Incorporating for the first time the effects of the application of IFRS 16 Leases.

2020 ANNUAL GENERAL MEETING

10

NET FINANCIAL DEBT AND FREE CASH FLOW

In millions of euros

7 153

31/12/2012

31/12/2013

31/12/2014

Net financial debt

31/12/2015

31/12/2016*** 31/12/2017*** 31/12/2018***Free cash flow

* Incorporating for the first time the effects of the application of IFRS 16 Leases. ** Belmond shares deducted from net financial debt (€274m).

Gearing

*** Restated to reflect the application of IFRS 9 Financial instruments. Previous years are presented without restatement.

31/12/2019*

10

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LVMH - Moët Hennessy Louis Vuitton SA published this content on 29 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2020 10:18:09 UTC