Full Year 2025 LVMH Moet Hennessy Louis Vuitton SE Earnings Call Transcript
Key Points
- Lvmh Moet Hennessy Louis Vuitton SE (LVMHF) reported revenue just over EUR80 billion, which is double what it was 10 years ago.
- Operating margin stood at 22%, significantly above the average of the last 20 years.
- Operating free cash flow reached EUR11.3 billion, indicating strong cash management.
- The company achieved a AAA score in the Carbon Disclosure Project, highlighting its leadership in sustainability.
- The fashion and leather goods segment showed significant improvement in the second half of the year, driven by creative initiatives and strong brand desirability.
- Organic growth was slightly negative for the year, although it turned positive in the second half.
- There was a negative foreign exchange impact, which significantly affected operating profit.
- The wines and spirits segment faced challenges, particularly in cognac, due to tariffs in China and the United States.
- Operating profit was down 9%, with most of the decline attributed to currency effects.
- The net profit group share decreased by 13%, impacted by a special tax in France for big companies.
Good evening. I'm delighted to present to you the figures for 2025 to begin with good piece of news. I think we'll make it through the winter. Some commentators had concerns, especially some journalists. I believe we can say more seriously that the results of the group are solid in a rather challenging, disrupted climate, economically from the geopolitical standpoint. But we've managed to get through this period. 2026 won't be simple either, but one thing at a time.
So revenue just over EUR80 billion. Let's state that it's twice what it was 10 years ago. Organic growth slightly negative on the year but positive in the second half. CFO will tell you more about the figures. Operating margin of 22%, way above the average of the last 20 years, a negative foreign exchange impact and impact that I don't think is going to improve this year for various reasons.
And the economic context that is changing swiftly disrupted sometimes unforeseeable. And in spite of
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