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LVMH MOňT HENNESSY LOUIS VUITTON SE

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LVMH MoŽt Hennessy Louis Vuitton : shares flat after its Q3 revenues

10/13/2021 | 03:17am EST
FILE PHOTO: FILE PHOTO: A pedestrian passes a logo of French luxury fashion brand Louis Vuitton in Paris

PARIS (Reuters) - Shares in LVMH were flat in early trading on Wednesday after the French luxury giant posted a strong rise in sales in its fashion and leather goods division in the third quarter.

LVMH, whose luxury products span Moët & Chandon champagne and Bulgari timepieces, said on Tuesday the popularity of its star labels Louis Vuitton and Dior helped its fashion and leather goods division, which accounts for nearly half of group sales, to report 24% growth.

Revenues for this business at the end of the quarter were 38% above their pre-pandemic, 2019 level, the same rate as in the first half.

LVMH shares opened up 0.4% after the opening bell before falling flat in early trade, outperforming the broader French stock market.

"LVMH delivers another strong quarter", analysts at Jefferies said in a note.

"While we remain cautious on the sector in the short term, we continue to view LVMH as the structural winner", they also said.

Overall Like-for-like sales, stripping out the effect of foreign exchange fluctuations, rose by 20% to 15.51 billion euros ($17.91 billion) in the three months to September. Growth was roughly in line with an analyst consensus forecast for a 21% rise.

($1 = 0.8660 euros)

(Reporting by Matthieu Protard; Editing by Benoit Van Overstraeten)


© Reuters 2021
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Analyst Recommendations on LVMH MOňT HENNESSY LOUIS VUITTON SE
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Financials
Sales 2021 61 964 M 70 014 M 70 014 M
Net income 2021 10 655 M 12 039 M 12 039 M
Net Debt 2021 13 041 M 14 735 M 14 735 M
P/E ratio 2021 32,8x
Yield 2021 1,17%
Capitalization 349 B 394 B 394 B
EV / Sales 2021 5,84x
EV / Sales 2022 5,16x
Nbr of Employees 148 343
Free-Float 52,3%
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Technical analysis trends LVMH MOňT HENNESSY LOUIS VUITTON SE
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 28
Last Close Price 692,00 €
Average target price 751,25 €
Spread / Average Target 8,56%
EPS Revisions
Managers and Directors
Bernard Arnault Chairman & Chief Executive Officer
Jean-Jacques Guiony Chief Financial Officer
Charles de Croisset Independent Director
Diego della Valle Independent Director
Yves-Thibault de Silguy Independent Director
Sector and Competitors
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