LVMH, the owner of some of the world's leading luxury brands, announced its financial results for fiscal year 2012 on January 31st. Total revenues increased 19% compared to fiscal year 2011, to 28.1 billion euros (approximately 3.5 trillion yen).
Organic revenue growth was 9%. This result includes the effect of the integration of Bulgari on June 30, 2011. All group companies performed well in Europe, Asia, and the United States. By quarter, fourth-quarter revenues increased 12% compared to the previous year, with organic revenue growth of 8%.
Operating profit increased 13% compared to the previous year, to 5.921 billion euros (approximately 750 billion yen), further exceeding the strong performance of 2011. Particularly strong performances across the group in 2012 included wines and spirits, Louis Vuitton, clothing and leather goods, Parfums Christian Dior, TAG Heuer, Bulgari (which was acquired in June 2011), and the Selective Retailing group's DFS and Sephora. Net cash flow was 2.5 billion euros (approximately 315 billion yen).
On December 4th of last year, an interim dividend of 1.10 euros per share was paid to shareholders. Furthermore, at the shareholders' meeting on April 18th of this year, the company announced that it would consider increasing the dividend to 2.90 euros per share. The difference of 1.8 euros per share from the interim dividend will be paid on April 25th, 2013.
As for the results for the fashion-related business as a whole, clothing and leather goods achieved organic revenue growth of 7% and operating profit increased by 6%. Perfumes and cosmetics saw increases of 8% and 17% respectively, watches and jewellery of 6% and 26%, and selective retailing of 14% and 19%.
Commenting on the financial results, Bernard Arnault, Chairman of the Board and CEO of the Group, said: "Despite the economic downturn in Europe, our results in 2012 were excellent. In 2013, we will continue to offer high-quality products based on a solid long-term strategy and further solidify our position as a global leader."
Organic revenue growth was 9%. This result includes the effect of the integration of Bulgari on June 30, 2011. All group companies performed well in Europe, Asia, and the United States. By quarter, fourth-quarter revenues increased 12% compared to the previous year, with organic revenue growth of 8%.
Operating profit increased 13% compared to the previous year, to 5.921 billion euros (approximately 750 billion yen), further exceeding the strong performance of 2011. Particularly strong performances across the group in 2012 included wines and spirits, Louis Vuitton, clothing and leather goods, Parfums Christian Dior, TAG Heuer, Bulgari (which was acquired in June 2011), and the Selective Retailing group's DFS and Sephora. Net cash flow was 2.5 billion euros (approximately 315 billion yen).
On December 4th of last year, an interim dividend of 1.10 euros per share was paid to shareholders. Furthermore, at the shareholders' meeting on April 18th of this year, the company announced that it would consider increasing the dividend to 2.90 euros per share. The difference of 1.8 euros per share from the interim dividend will be paid on April 25th, 2013.
As for the results for the fashion-related business as a whole, clothing and leather goods achieved organic revenue growth of 7% and operating profit increased by 6%. Perfumes and cosmetics saw increases of 8% and 17% respectively, watches and jewellery of 6% and 26%, and selective retailing of 14% and 19%.
Commenting on the financial results, Bernard Arnault, Chairman of the Board and CEO of the Group, said: "Despite the economic downturn in Europe, our results in 2012 were excellent. In 2013, we will continue to offer high-quality products based on a solid long-term strategy and further solidify our position as a global leader."
