French fashion conglomerate LVMH reports €86.2 Bn revenue In 2023

LVMH Moët Hennessy Louis Vuitton, the world's pre-eminent luxury goods conglomerate, has reported a revenue of €86.2 billion in 2023, marking a robust 13 per cent organic growth compared to 2022.

The profit from recurring operations saw an increase of 8 per cent, rising from €21,055 million in 2022 to €22,802 million in 2023. Similarly, the net profit attributable to the Group share grew by 8 per cent, from €14,084 million to €15,174 million.

However, the operating free cash flow decreased by 20 per cent, falling from €10,113 million in 2022 to €8,104 million in 2023.

The net financial debt of the company increased by 17 per cent, reaching €10,746 million in 2023, up from €9,201 million in 2022.

Total equity showed an upward trend, with an 11 per cent increase from €56,604 million in 2022 to €62,701 million in 2023, the company said in its financial statement.

The Fashion and Leather Goods segment's reported revenue increased by 9 per cent to €42,169 million in 2023, while its organic revenue growth is pegged at 14 per cent.

The profit from recurring operations for this segment increased by 7 per cent to €16,836 million.

Europe, Japan, and other Asian regions recorded double-digit organic growth, contributing significantly to the group's success.

The fourth quarter of 2023 alone witnessed an organic revenue growth of 10 per cent. Profit from recurring operations rose to €22.8 billion, an increase of 8 per cent from the previous year.

Furthermore, the group's share of net profit also surged by 8 per cent, reaching €15.2 billion.