LVMH In 2003 - Twelve Billion Euros

A world leader in the production of luxury goods, LVMH Moët Hennessy Louis Vuitton recorded a turnover of 11,962 million euros in 2003, corresponding to a reduction of 6% compared to 2002 (12,693 million). On a like-for-like basis and at constant exchange rates however, the figure represents an increase of 4%. In a press release issued on 22 January, the group also announced growth of around 7% in its 2003 operating profit, without giving further details.

While the five areas of activity of LVMH recorded a slide in sales last year based on unadjusted data, virtually all of them nevertheless registered a positive organic trend, as the following figures show: wines and spirits (2,114 million euros, -7% based on unadjusted data, but +5% in terms of organic growth), fashion and leather goods (4,150 million, -1%, +9%), perfumes and cosmetics (2,181 million, -7%, +4%), watches and jewellery (502 million, -9%, 0%), selective distribution (3,039 million, -9%, +1%)
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It should be noted that the fourth quarter of 2003 saw an acceleration of organic growth (+8%), and particularly a significant increase in the watch sector (+7%), with TAG Heuer and Christian Dior timepieces achieving two-digit increases in their sales at constant exchange rates during this period.

February 09, 2004