Christian Dior: First Half Results as of October 31, 2012

  Christian Dior: First Half Results as of October 31, 2012

Business Wire

PARIS -- December 21, 2012

Regulatory News:

Since Christian Dior (Paris:CDI) has modified the date on which its fiscal
year ends to April 30, this financial release covers the period from May 1 to
October 31, 2012, corresponding to the first half of its 2012-13 fiscal year.

For the period from May 1 to October 31, 2012, the Christian Dior group had
revenue of 14.3 billion euros, its profit from recurring operations was 2,992
million euros, and the Group share of net profit was 725 million euros. These
excellent results bear witness to the vitality and appeal of the Group’s
brands throughout their markets.

                                         May 1 to               January 1 to
(EUR millions)                           October 31, 2012       April 30, 2012
                                         (6 months)             (4 months)
                                                               
  * Revenue                              14,343                 8,993
  * Profit from recurring                2,992                  1,809
    operations
  * Net profit                           1,939                  1,190
of which: Group share                    725                    394

LVMH

LVMH’s revenue for the period increased by 18% (and by 7% at constant
structure and exchange rates) over the same period in 2011, to 13.7 billion
euros. Profit from recurring operations was 2,920 million euros.

Highlights of the period include:

  * Robust demand for the products of the Wines and Spirits business group,
    accompanied by product mix improvements and a resolute policy of higher
    selling prices;
  * Double-digit revenue growth for Louis Vuitton, fueled by the strong appeal
    of its products and the unique experience offered to all its customers in
    its stores;
  * Rapid development of the other fashion brands;
  * Strong momentum at Parfums Christian Dior driven by growth in its iconic
    perfume lines;
  * Solid advances by Watches and Jewelry, with the ongoing integration of
    Bulgari within LVMH;
  * Excellent performances by DFS and Sephora.

Christian Dior Couture

For the first half fiscal year ended October 31, 2012, Christian Dior Couture
had revenue of 632 million euros, representing a 26% increase (18% at constant
exchange rates) over the same period in 2011. Retail activities turned in
exceptional performance, especially in key geographic regions such as Europe,
Asia and the United States, thanks to the success of Leather Goods as well as
its Men’s and Women’s Ready-to-wear lines. Profit from recurring operations
was 87 million euros.

Outlook

Against the backdrop of an economic slowdown in Europe, the Christian Dior
group is pursuing an aggressive strategy emphasizing innovation and targeted
geographic expansion. The Christian Dior group intends to draw on the strong
momentum of its brands and the talent of its teams to further reinforce its
leadership position in the global luxury goods market.

During the period under review and as of the date of this financial release,
no events or changes have occurred that would be likely to have a significant
impact on the Group’s financial structure.

Christian Dior’s Board of Directors has decided to distribute an interim
dividend of 1.10 euros per share, which will be payable on April 25, 2013.

                                     * *

                                      *

APPENDIX: Revenue by business group and by period

Regulatory disclosures related to the information provided in this financial
release are available on the website www.dior-finance.com.

Audit procedures carried out, limited review report issued following the Board
meeting.

Some of the statements contained in this financial release may include or be
based on forward-looking information. Major risk factors, uncertainties as
well as elements either beyond our control or unable to be anticipated as of
this writing may thus cause actual results to differ significantly from those
expressed or implied by the forward-looking information in this financial
release. The statements made herein reflect our vision of the Group’s business
activities as of the date of this financial release. Accordingly, readers are
cautioned not to place undue reliance on the information thus provided.
Furthermore, it should be noted that we undertake no obligation to update
publicly or otherwise revise any forward-looking statements.

APPENDIX

Christian Dior - Revenues by business groups and accounting periods (*)

Current fiscal year
                Christian       Wines         Fashion       Perfumes        Watches                       Other
(EUR            Dior            &             &             &               &             Selective       activities         Total
millions)       Couture         Spirits       Leather       Cosmetics       Jewelry       Retailing       and
                                              Goods                                                       eliminations
Period
from May        323             843           2,413         805             733           1,834           (49)               6,902
1 to July
31, 2012
Period
from
August 1        309             1,177         2,463         1,000           714           1,880           (151)              14,343
to
October
31, 2012
Period
from May
1 to            632             2,020         4,876         1,805           1,447         3,714           (102)              7,441
October
31, 2012
                                                                                                                              
Period
ended
April 30,                                                                                                                     
2012 (4
months)
                Christian       Wines         Fashion       Perfumes        Watches                       Other
(EUR            Dior            &             &             &               &             Selective       activities         Total
millions)       Couture         Spirits       Leather       Cosmetics       Jewelry       Retailing       and
                                              Goods                                                       eliminations
Period
from
January 1       284             926           2,374         899             630           1,823           (76)               6,860
to March
31, 2012
Period
from
January 1       371             1,196         3,101         1,188           853           2,385           (101)              8,993
to April
30, 2012
                                                                                                                              
Period
ended
December                                                                                                                      
31, 2011
(12
months)
                Christian       Wines         Fashion       Perfumes        Watches                       Other
(EUR            Dior            &             &             &               &             Selective       activities         Total
millions)       Couture         Spirits       Leather       Cosmetics       Jewelry       Retailing       and
                                              Goods                                                       eliminations
Period
from
January 1       221             762           2,029         803             261           1,421           (33)               5,464
to March
31, 2011
Period
from
April 1         224             673           1,942         715             315           1,410           (22)               5,257
to June
30, 2011
Period
from July
1 to            260             871           2,218         793             636           1,547           (61)               6,264
September
30, 2011
Period
from
October 1       295             1,218         2,523         884             737           2,058           (72)               7,643
to
December
31, 2011
Period
from
January 1       1,000           3,524         8,712         3,195           1,949         6,436           (188)              24,628
to
December
31, 2011
(*)
Figures
rounded
to the
nearest
digit.

Contact:

Christian Dior
+33 1 44 13 22 22