Financials LVMH

Equities

Market Closed - Euronext Paris Other stock markets 11:35:13 2024-12-06 am EST			5-day change	1st Jan Change
630.40 ^EUR	+3.48%		+6.40%	-14.07%

Dec. 06	Blue chips stall but CAC 40 soars on luxury lift	AN
Dec. 06	LVMH : Goldman Sachs remains its Buy rating	ZD

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	53,670	44,651	64,215	79,184	86,153	84,071	88,349	94,316
Change	-	-16.8%	43.82%	23.31%	8.8%	-2.42%	5.09%	6.75%
EBITDA ¹	16,612	14,355	22,981	27,281	29,979	26,010	27,619	29,757
Change	-	-13.59%	60.09%	18.71%	9.89%	-13.24%	6.19%	7.74%
EBIT ¹	11,504	8,305	17,151	21,055	22,802	20,390	21,777	23,686
Change	-	-27.81%	106.51%	22.76%	8.3%	-10.58%	6.8%	8.77%
Interest Paid ¹	-559	-608	53	-888	-935	-815.8	-689.2	-707.2
Earnings before Tax (EBT) ¹	10,714	7,364	17,208	20,113	21,625	19,537	21,109	22,990
Change	-	-31.27%	133.68%	16.88%	7.52%	-9.66%	8.04%	8.92%
Net income ¹	7,171	4,702	12,036	14,084	15,174	13,672	14,579	16,130
Change	-	-34.43%	155.98%	17.02%	7.74%	-9.9%	6.64%	10.64%
Announcement Date	1/28/20	1/26/21	1/27/22	1/26/23	1/25/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	13,316	15,272	10,596	7,797	11,955	14,303	13,959	14,706	15,512	20,038	18,003	18,726	19,755	22,699	21,035	21,205	19,964	23,948	20,694	20,983	19,076	23,239	20,985	21,796	20,421	25,170
Change	-	14.69%	-30.62%	-26.42%	53.33%	19.64%	-2.41%	5.35%	5.48%	29.18%	-10.16%	4.02%	5.5%	14.9%	-7.33%	0.81%	-5.85%	19.96%	-13.59%	1.4%	-9.09%	21.82%	-9.7%	3.86%	-6.31%	23.26%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-	-	4,742	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-100%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	10/9/19	1/28/20	4/16/20	7/27/20	10/15/20	1/26/21	4/26/21	7/26/21	10/12/21	1/27/22	4/12/22	7/26/22	10/11/22	1/26/23	4/12/23	7/25/23	10/10/23	1/25/24	4/16/24	7/23/24	10/15/24	-	-	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 S1	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	18,393	26,258	28,665	35,550	36,729	42,455	42,240	43,913	41,677	42,400	42,781	45,591
Change	-	42.76%	9.17%	24.02%	3.32%	15.59%	-0.51%	3.96%	-5.09%	1.74%	0.9%	6.57%
EBITDA ¹	4,601	9,754	10,376	12,605	13,241	14,040	14,653	15,326	13,893	13,292	-	-
Change	-	112%	6.38%	21.48%	5.05%	6.03%	4.37%	4.59%	-9.35%	-4.33%	-100%	-
EBIT ¹	1,671	6,634	7,632	9,519	10,235	10,820	11,574	11,228	10,653	9,780	10,291	10,651
Change	-	297.01%	15.04%	24.72%	7.52%	5.72%	6.97%	-2.99%	-5.12%	-8.19%	5.22%	3.5%
Charge d'intérêts ¹	-462	-146	-12	65	-798	-90	467	-1,370	-255	-255	-	-
Earnings before Tax (EBT) ¹	1,055	6,309	7,586	9,622	9,329	10,784	12,031	9,594	10,369	9,742	-	-
Change	-	498.01%	20.24%	26.84%	-3.05%	15.6%	11.56%	-20.26%	8.08%	-6.05%	-100%	-
Net income ¹	522	4,180	5,289	6,747	6,532	7,552	8,481	6,693	7,267	6,616	-	-
Change	-	700.77%	26.53%	27.57%	-3.19%	15.62%	12.3%	-21.08%	8.58%	-8.97%	-100%	-
Announcement Date	7/27/20	1/26/21	7/26/21	1/27/22	7/26/22	1/26/23	7/25/23	1/25/24	7/23/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	6,206	4,241	9,607	27,847	30,671	25,252	19,715	13,350
Change	-	-31.66%	126.53%	189.86%	10.14%	-17.67%	-21.93%	-32.29%
Announcement Date	1/28/20	1/26/21	1/27/22	1/26/23	1/25/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	3,294	2,478	2,664	4,969	7,478	5,434	5,676	5,819
Change	-	-24.77%	7.51%	86.52%	50.49%	-27.33%	4.45%	2.52%
Free Cash Flow (FCF) ¹	6,167	6,117	13,531	10,113	8,104	12,770	14,590	15,831
Change	-	-0.81%	121.2%	-25.26%	-19.87%	57.58%	14.25%	8.5%
Announcement Date	1/28/20	1/26/21	1/27/22	1/26/23	1/25/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	30.95%	32.15%	35.79%	34.45%	34.8%	30.94%	31.26%	31.55%
EBIT Margin (%)	21.43%	18.6%	26.71%	26.59%	26.47%	24.25%	24.65%	25.11%
EBT Margin (%)	19.96%	16.49%	26.8%	25.4%	25.1%	23.24%	23.89%	24.38%
Net margin (%)	13.36%	10.53%	18.74%	17.79%	17.61%	16.26%	16.5%	17.1%
FCF margin (%)	11.49%	13.7%	21.07%	12.77%	9.41%	15.19%	16.51%	16.78%
FCF / Net Income (%)	86%	130.09%	112.42%	71.8%	53.41%	93.41%	100.08%	98.15%
Profitability
ROA	8.4%	4.58%	10.29%	10.84%	10.9%	9.6%	9.6%	10.04%
ROE	19.83%	12.18%	28.48%	27.55%	26.13%	20.45%	19.49%	19.55%
Financial Health
Leverage (Debt/EBITDA)	0.37x	0.3x	0.42x	1.02x	1.02x	0.97x	0.71x	0.45x
Debt / Free cash flow	1.01x	0.69x	0.71x	2.75x	3.78x	1.98x	1.35x	0.84x
Capital Intensity
CAPEX / Current Assets (%)	6.14%	5.55%	4.15%	6.28%	8.68%	6.46%	6.42%	6.17%
CAPEX / EBITDA (%)	19.83%	17.26%	11.59%	18.21%	24.94%	20.89%	20.55%	19.55%
CAPEX / FCF (%)	53.41%	40.51%	19.69%	49.13%	92.28%	42.55%	38.9%	36.76%
Items per share
Cash flow per share ¹	23.12	21.61	37.01	35.49	36.78	42.31	44.99	45.55
Change	-	-6.52%	71.24%	-4.1%	3.63%	15.05%	6.33%	1.24%
Dividend per Share ¹	6.8	6	7	12	13	12.8	13.62	15.17
Change	-	-11.76%	16.67%	71.43%	8.33%	-1.56%	6.4%	11.41%
Book Value Per Share ¹	75.91	76.93	93.56	109.8	122.2	135	150.1	165.3
Change	-	1.34%	21.62%	17.31%	11.29%	10.5%	11.21%	10.1%
EPS ¹	14.23	9.32	23.89	28.03	30.33	27.27	28.85	31.85
Change	-	-34.5%	156.33%	17.33%	8.21%	-10.1%	5.82%	10.39%
Nbr of stocks (in thousands)	503,368	503,359	503,785	501,103	499,410	499,544	499,544	499,544
Announcement Date	1/28/20	1/26/21	1/27/22	1/26/23	1/25/24	-	-	-