LVMH: 17% growth in net income by 2022
Fashion and Leather Goods achieved organic growth of 20%. Perfumes and Cosmetics will post sales growth of 17% in 2022 (10% organic). Watches and Jewelry posted sales growth of 18% (12% organic). The Wines and Spirits business posted sales growth of 19% (11% organic).
Profit from recurring operations was up 23% to 21.1 billion euros. Operating margin before non-recurring items remained at the 2021 level.
Net income, Group share stands at 14.1 billion euros, up 17% on 2021. Free operating cash flow exceeds 10 billion euros.
' Europe, the United States and Japan are up sharply, benefiting from strong demand from local customers and a recovery in international travel. Asia was stable over the year, due to developments in the health situation in China," says the group.
' With January off to a good start and despite an uncertain geopolitical and economic context, LVMH is confident that the growth seen in 2022 will continue '.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
Go to the original article.
Contact us to request a correction