LVMH : Excellent performance for LVMH in 2012

                LVMH : Excellent performance for LVMH in 2012

                                                        Paris, 31 January 2013

LVMH Moët Hennessy Louis Vuitton,  the world's leading luxury products  group, 
recorded revenue of  €28.1 billion  in 2012, an  increase of  19% compared  to 
2011. This includes the  integration of Bulgari as  of June 30, 2011.  Organic 
revenue growth was 9%. All business  groups saw excellent momentum in  Europe, 
Asia and the United States. Louis Vuitton, in particular, once again  recorded 
double-digit revenue growth during the year.

Revenue increased by 12% in the fourth quarter, compared to the same period in
2011, with  organic  revenue growth  of  8%. The  last  quarter saw  a  modest 
increase in growth compared to the third quarter of 2012.

Profit from  recurring  operations increased  by  13%  to €5  921  million,  a 
performance which is even more remarkable  when compared to the strong  growth 
in 2011. Current operating margin was 21%  in 2012. Group share of net  profit 
was €3 424 million, an increase of 12% compared to 2011. 

Bernard Arnault, Chairman and CEO of LVMH, said: "2012 was another  remarkable 
year for LVMH, especially in the  context of the economic slowdown in  Europe. 
All of our businesses demonstrated excellent momentum driven by innovation and
the quality  of  their  products, thereby  strengthening  their  positions  in 
traditional markets while continuing  to develop in  new ones. Looking  beyond 
the appeal of our brands, it is  the talent of our teams and their  motivation 
that enables us to so effectively execute our strategy. In 2013, LVMH  intends 
to further strengthen its global leadership position in high quality  products 
by relying on its sound, long-term strategy."

Highlights of 2012 include:

  *Profit from recurring operations close to 6 billion Euros

  *Further market share gains throughout the world

  *Strong momentum in the United States

  *Continued rapid growth in Asia

  *Strong progression in Wines & Spirits

  *Double-digit revenue growth and exceptional profitability at Louis

  *Improved performance of other Fashion & Leather Goods brands

  *Remarkable year for Parfums Christian Dior which gained market share in a
    competitive environment 

  *On-going strengthening of the market positions of DFS and Sephora due to
    their innovative products and services

  *Excellent results for TAG Heuer and the integration of the first full year
    of Bulgari

  *Free cash flow of €2.5 billion

Euro millions                     2011   2012  % Change
Revenue                          23 659 28 103   + 19 %
Profit from recurring operations  5 263  5 921   + 13 %
Group share of net profit         3 065  3 424   + 12 %
Free cash flow*                   2 177  2 474   + 14 %

* Before available for sale financial assets and investments, transactions
relating to equity
and financing activities

Revenue by business group:

                                                % change

Euromillions                       2011   2012  2012/2011

                                                Reported   Organic*
Wines & Spirits                    3 524  4 137      + 17 %     + 11 %
Fashion & Leather Goods            8 712  9 926      + 14 %      + 7 %
Perfumes & Cosmetics               3 195  3 613      + 13 %      + 8 %
Watches & Jewelry                  1 949  2 836      + 46 %      + 6 %
Selective Retailing                6 436  7 879      + 22 %     + 14 %
Other activities and eliminations  (157)  (288)           -          -
Total LVMH                        23659 28 103      + 19 %      + 9 %

*With comparable structure and exchange rates

Profit from recurring operations by business group:

Euro millions                     2011  2012  % change
Wines & Spirits                   1 101 1 260   + 14 %
Fashion & Leather Goods           3 075 3 264    + 6 %
Perfumes & Cosmetics                348   408   + 17 %
Watches & Jewelry                   265   334  + 26 %
Selective Retailing                 716   854   + 19 %
Other activities and eliminations (242) (199)        -
Total LVMH                        5 263 5 921   + 13 %

Wines & Spirits: strong growth in vintages and prestige qualities

The Wines &  Spirits business group  recorded organic revenue  growth of  11%. 
Profit from recurring  operations increased by  14%. Continuing the  favorable 
trend for the  wines and  spirits market in  2011, demand  remained strong  in 
2012. In  addition to  volume growth,  improved product  mix and  a policy  of 
adjusted price contributed to this excellent performance. Champagne recorded a
strong performance  in its  rosé and  prestige vintages.  Sparkling and  still 
wines from Estates & Wines experienced strong new growth. Hennessy cognac  saw 
a very good year  for all its  qualities and in  all regions. Belvedere  vodka 
enjoyed good  momentum  outside  the  U.S.  while  the  single  malt  whiskeys 
Glenmorangie and Ardbeg  recorded rapid  increases in their  key markets.  All 
maisons in this business group thus  benefit fully from their value  enhancing 
strategy, based  on  the image  of  their brands  and  the strength  of  their 
distribution network.

Fashion & Leather Goods:  excellent performance from  Louis Vuitton and  other 

The Fashion & Leather Goods business group recorded organic revenue growth  of 
7% in 2012. Profit from recurring  operations increased by 6%. Louis  Vuitton, 
which had another record year, increased its lead over other artisanal  brands 
of leather goods. With double-digit  revenue growth, Louis Vuitton  maintained 
its historic strategy based on the  extraordinary quality of its products  and 
its excellent  distribution. The  Maison continues  to record  an  exceptional 
level of  profitability in  a  context of  sustained investment  dedicated  to 
strengthening its savoir-faire.  The opening  of its  first dedicated  jewelry 
boutique complete with its first Haute Joaillerie workshop at Place Vendôme in
Paris and the reopening of the Maison Louis Vuitton in Shanghai are among  the 
highlights of  the year.  Fendi  continued the  qualitative expansion  of  its 
distribution network. Its iconic handbag Baguette experienced a record year on
its 15^th  anniversary. As  the brand  continues to  strengthen its  identity, 
Céline showed excellent performance in all its products and in all  geographic 
areas. The performance of the other fashion brands continued to improve.

Perfumes & Cosmetics: excellent momentum

The Perfumes & Cosmetics business group recorded organic revenue growth of 8%.
Profit from recurring operations increased by 17%. Parfums Christian Dior  saw 
excellent performance driven by the  strength of flagship lines, notably  Miss 
Dior and J'adore. Dior  Addict Lipstick confirmed  its leadership position  in 
its main  markets and  the skin  care line  Prestige continued  its  sustained 
growth. Guerlain continued to see strong growth momentum attributed notably to
the performance of its  new fragrance La Petite  Robe Noire. Parfums  Givenchy 
saw strong  growth in  its makeup  line due  to broader  distribution and  the 
success of  its mascara  Noir Couture.  Benefit, Make  Up For  Ever and  Fresh 
continued their strong growth.

Watches & Jewelry: strong progress in iconic lines and development of
industrial capacity

The Watches & Jewelry business group recorded organic revenue growth of 6%  in 
2012. Profit from recurring operations rose 26% notably due the performance of
Bulgari, consolidated as of 30 June  2011. LVMH watch brands experienced  good 
momentum supported by many innovations and the excellent performance of  their 
iconic models Carrera by  TAG Heuer, King  Power by Hublot  and El Primero  by 
Zenith. In Jewelry, Bulgari confirmed the success of its Serpenti and  B.Zerol 
collections, enriched  by new  creations, and  reinforced the  quality of  its 
distribution. Chaumet and Fred continue to develop their star collections.

Selective Retailing: rapid growth thanks to its innovative product and service

The Selective Retailing business group recorded organic revenue growth of  14% 
in 2012. Profit from recurring operations increased by 19%. Due to its  strong 
commitment to the quality  of its stores, DFS  benefitted from momentum  among 
Asian customers. Three major concessions were won in 2012 at Hong Kong Airport
and the concession  at Los Angeles  Airport was renewed.  The opening in  Hong 
Kong of a third Galleria is also a key highlight of the year.
Sephora continued to achieve an excellent level of performance and made market
share gains across  all its regions.  Online revenue is  growing strongly.  In 
Europe, new stores opened  for the first  time in Denmark  and Sweden. In  the 
United  States,  the  renovation  of  several  flagship  stores  in  New  York 
strengthened the appeal of the brand. Sephora continued its expansion in China
while accelerating the renovation  of its existing  network. Its first  stores 
were opened in the high potential markets of Brazil and India.

Favorable outlook for LVMH in 2013

Despite an uncertain economic environment in Europe, LVMH is well-equipped  to 
continue its growth  momentum across all  business groups in  2013. The  Group 
will maintain a  strategy focused on  developing its brands  by continuing  to 
build up its savoir-faire, as well as through strong innovation and  expansion 
in fast growing markets.

Driven by  the agility  of  its organization,  the  balance of  its  different 
businesses and geographic diversity, LVMH enters 2013 with confidence and has,
once again, set an objective of  increasing its global leadership position  in 
luxury goods.

Dividend increase of 12%

At the Annual  Shareholders Meeting  on April 18,  2013, LVMH  will propose  a 
dividend of €2.90 per share, an increase of 12%. An interim dividend of  €1.10 
per share was paid on December 4 of last year. The balance of €1.80 per  share 
will be paid on April 25, 2013.

The LVMH Board met on January 31 to approve the financial statements for 2012.
Audit procedures have been carried out and the audit report is being issued.
Regulated information  related  to this  press  release, the  presentation  of 
annual  results  and  the  report  "Financial  Documents"  are  available   at

Revenue by business group and by quarter


                   Fashion             Watches                     Other
(Euro      Wines &       & Perfumes &        &  Selective Activities and Total
millions)  Spirits Leather  Cosmetics  Jewelry  Retailing   Eliminations
First          926   2 374        899      630      1 823           (70) 6 582
Second         833   2 282        828      713      1 767           (39) 6 384
Third        1 006   2 523        898      690      1 862           (79) 6 900
Fourth       1 372   2 747        988      803      2 427          (100) 8 237
Total        4 137   9 926      3 613    2 836      7 879          (288)    28
revenue                                                                    103


                   Fashion             Watches                     Other
(Euro      Wines &       & Perfumes &        &  Selective Activities and Total
millions)  Spirits Leather  Cosmetics  Jewelry  Retailing   Eliminations
First          762   2 029        803      261      1 421           (29) 5 247
Second         673   1 942        715      315      1 410           (10) 5 045
Third          871   2 218        793      636      1 547           (54) 6 011
Fourth       1 218   2 523        884      737      2 058           (64) 7 356
Total        3 524   8 712      3 195    1 949      6 436          (157)    23
revenue                                                                    659

About LVMH
LVMH Moët Hennessy  Louis Vuitton  is represented in  Wines and  Spirits by  a 
portfolio of brands that includes Moët & Chandon, Dom Pérignon, Veuve Clicquot
Ponsardin, Krug, Ruinart,  Mercier, Château  d'Yquem, Hennessy,  Glenmorangie, 
Ardbeg, Vodka Belvedere, 10 Cane, Chandon, Cloudy Bay, Terrazas de los Andes,
Cheval des Andes, Green Point, Cape Mentelle, Newton, Wen Jun. Its Fashion and
Leather Goods  division includes  Louis Vuitton,  the world's  leading  luxury 
brand, as well as Céline, Loewe,  Kenzo, Givenchy, Thomas Pink, Fendi,  Emilio 
Pucci, Donna Karan, Marc Jacobs and  Berluti. LVMH is present in the  Perfumes 
and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums  Givenchy, 
Parfums Kenzo, Perfumes Loewe  as well as  other promising cosmetic  companies 
(BeneFit Cosmetics, Make Up For Ever, Acqua di Parma and Fresh). LVMH is  also 
active in  selective retailing  as  well asin  other activities  through  DFS, 
Sephora, Le Bon  Marché, Samaritaine and  Royal Van Lent.  LVMH's Watches  and 
Jewelry division comprises Bulgari, TAG Heuer, Chaumet, Dior Watches,  Zenith, 
Fred, Hublot and De Beers Jewellery, a joint venture created with the  world's 
leading diamond group.

"Certain information  included  in this  release  is forward  looking  and  is 
subject to important risks and uncertainties and factors beyond our control or
ability to predict, that could cause actual results to differ materially  from 
those anticipated, projected or implied. It only reflects our views as of  the 
date of this presentation. No undue reliance should therefore be based on  any 
such information, it  being also  agreed that  we undertake  no commitment  to 
amend or update it after the date hereof."

Analysts and investors: Chris Hollis                       + 33
France:                Michel Calzaroni/Olivier Labesse/  + 33
                        Sonia Fellmann/Hugues Schmitt
                        DGM Conseil
UK:                     Hugh Morrison                      + 44.207.920.2334
                        M: Communications                  + 44.773.965 5492
Italy:                  Michele Calcaterra/Mateo Steinbach +39
US:                     James Fingeroth/Molly Morse/       +1 212.521.4800
                        Dawn Dover/Micheline Tang
                        Kekst & Company



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Source: LVMH via Thomson Reuters ONE
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