Daily Management Review

LVMH net profit jumps 2.6 times in 2021


French LVMH Moet Hennessy - Louis Vuitton's net profit attributable to the group increased 2.6-fold to €12.036 billion in 2021, the company said in a statement.

Revenue rose 1.4 times to €64.215 billion. The fashion and leather goods and selective retailing divisions accounted for the largest share of revenue. At the same time, the company's net financial debt was €9.607 billion, up 2.6 times on the previous year.

The company did not provide full figures for the fourth quarter of 2021. However, it said that its revenues rose 1.4 times to €20.038 billion in that period.

The release also noted that 2021 was a record year for many of the brands within the group, especially the larger ones. The company also recorded a record free cash flow from operations of €13.5 billion last year.

French LVMH produces luxury goods under the Louis Vuitton, Guerlain, Givenchy, Moet & Chandon, Kenzo, Hennessy and several other brands. Its headquarters are located in Paris.

source: reuters.com