Good Performance for the Christian Dior Group

  Good Performance for the Christian Dior Group

Business Wire

PARIS -- July 26, 2013

Regulatory News :

Christian Dior (Paris:CDI) :

1. FISCAL YEAR FROM MAY 1, 2012 TO APRIL 30, 2013

The Christian Dior group recorded revenue of 29.9 billion euros for the fiscal
year from May 1, 2012 to April 30, 2013, generating profit from recurring
operations of 6.1 billion euros and a Group share of net profit of 1.4 billion
euros.

                                     Fiscal year from       Fiscal year from

                                     May 1, 2012 to         January 1 to
(EUR millions)                                         
                                     April 30, 2013         April 30, 2012

                                     (12 months)            (4 months)
                                                        
                                                            
Revenue                              29,881                 8,993
Profit from recurring operations     6,090                  1,809
Net profit                           3,931                  1,190
of which: Group share                1,431                  394
Free cash flow ^(a)                  2,473                  294

(a) Before financial investments, transactions relating to equity and
financing activities.

Revenue recorded by Christian Dior Couture for the fiscal year from May 1,
2012 to April 30, 2013 amounted to 1,289 million euros, representing an
increase of 19% at actual exchange rates in relation to the comparable period
of May 1, 2011 to April 30, 2012 ^(b). Retail activities saw revenue growth of
23% at actual exchange rates and continued to show strong improvement. Every
geographic region contributed to this performance, served by the powerful
appeal of all Dior’s products. Profit from recurring operations for the fiscal
year ended April30,2013 was 131millioneuros.

LVMH’s revenue for the period from May1,2012 to April30,2013 totaled
28,632millioneuros, up 13% at actual exchange rates in relation to the
comparable period of May1,2011 to April30,2012 ^(b). Profit from recurring
operations for the period amounted to 5,988millioneuros.

(b) Figures for the period from May1,2011 to April30,2012 were not
audited.

LVMH revenue by business group:

                                               Period from
                              Period from
                                               May 1, 2011
                              May 1, 2012 to   to
(EUR millions)                                             Change at actual
                              April 30, 2013   April 30,      exchange rates
                                               2012
                              (12 months)
                                               (12 months)
                                               ^(c)
                                                        
                                                              
Wines and Spirits             4,208            3,736          + 13%
Fashion and Leather Goods     9,936            9,172          + 8%
Perfumes and Cosmetics        3,678            3,330          + 10%
Watches and Jewelry           2,826            2,446          + 16%
Selective Retailing           8,303            6,957          + 19%
Other activities and          (319)            (212)          -
eliminations
                                                        
                                                              
Total LVMH                    28,632           25,429         + 13%
                                                              
(c) Figures non audited.

Approval of the financial statements for the fiscal year ended April30,2013
and proposed dividend

The Board of Directors of Christian Dior convened on July25,2013 to approve
the financial statements for the fiscal year ended April30,2013. Audit
procedures were carried out and the audit report is in the process of being
issued.

A proposal will be made at the Shareholders’ Meeting of October18,2013 to
distribute a gross dividend of 2.90euros per share for the fiscal year ended
April30,2013. As an interim dividend of 1.10euros per share was distributed
on April25,2013, the final dividend will be in the amount of 1.80euros. It
will be payable on December3,2013.

2. PERIOD FROM JANUARY 1 TO JUNE 30, 2013
(Financial data for the period from January 1 to June 30, 2013 do not
correspond to any accounting period specified in the Bylaws of Christian Dior
and are published for information purposes only)

The Christian Dior group recorded revenue of 14.3billioneuros for the period
from January1 to June30,2013, an increase of 6% at actual exchange rates in
relation to the comparable period of January 1 to June 30, 2012. Organic
revenue growth was 9% compared to the same period in 2012, which itself saw
strong growth. The Group continued to experience good momentum in the United
States and Asia, and continues to grow in Europe in a more difficult economic
environment. With organic growth of 10%, the second quarter showed some
acceleration compared to the first quarter.

Profit from recurring operations for this six-month period totaled 2.8 billion
euros, an increase of 3% compared to the same period in 2012. This performance
is compared to the first half of 2012, which showed very strong growth. The
current operating margin reached 19%.

Group revenue by business group:

                            Period from     Period from
                                                         Change
                            January 1 to    January 1 to
                            June 30, 2013   June 30, 2012              Organic
(EUR millions)                                              Reported  ^(d)
                            (6 months)      (6 months)
                                                               
                                                                       
Christian Dior Couture      659             573             + 15%      + 17%
Wines and Spirits           1,808           1,759           + 3%       + 5%
Fashion and Leather Goods   4,711           4,656           + 1%       + 5%
Perfumes and Cosmetics      1,804           1,727           + 4%       + 6%
Watches and Jewelry         1,310           1,343           - 3%       + 1%
Selective Retailing         4,215           3,590           + 17%      + 19%
Other activities and        (169)           (128)           -          -
eliminations
                                                               
                                                                       
Total                       14,338          13,520          + 6%       + 9%
                                                                       
(d) At constant structure and exchange
rates.

Group profit from recurring operations by business group:

                              Period from     Period from

(EUR millions)               January 1 to   January 1 to   Change at actual
                              June 30, 2013   June 30, 2012   exchange rates

                              (6 months)      (6 months)
                                                        
                                                              
Christian Dior Couture        57              49              + 18%
Wines and Spirits             542             496             + 9%
Fashion and Leather Goods     1,497           1,516           - 1%
Perfumes and Cosmetics        200             197             + 2%
Watches and Jewelry           156             159             - 2%
Selective Retailing           407             373             + 9%
Other activities and          (98)            (97)            -
eliminations
                                                        
                                                              
Total                         2,761           2,693           + 3%

Christian Dior Couture

Revenue recorded by Christian Dior Couture for the period from January1 to
June30,2013 amounted to 659millioneuros, representing an increase of 15%
(+ 17% at constant exchange rates) compared to the same period in 2012. Retail
activities performed remarkably well, growing 17% (+ 20% at constant exchange
rates) as against the same period in 2012, thanks in part to the success of
Leather Goods as well as men’s and women’s Ready-to-Wear. Revenue in the
second quarter of 2013 showed growth of 22% at constant exchange rates
compared to the second quarter of 2012.
Profit from recurring operations for the period totaled 57millioneuros, up
18% compared to the same period in 2012.

LVMH

LVMH’s reported revenue for the period from January1 to June 30,2013 came to
13.7billioneuros, up6% (+ 8% at constant structure and exchange rates)
compared to the same period in 2012. Revenue in the second quarter of 2013
showed organic growth of 9% over the second quarter of 2012.

Profit from recurring operations for the first half of 2013 totaled
2,712millioneuros, up 2% compared to the same period in 2012.

Highlights of the first half of 2013 include:

  *Good resilience in Europe and sustained momentum in Asia, the United
    States and Japan;
  *Market share gains of all our brands;
  *Good performance in Wine and Spirits;
  *The very qualitative development of Louis Vuitton, whose profitability
    remains at an exceptional level;
  *Continued investment in the fashion brands;
  *Further innovation and success of iconic lines at Parfums Christian Dior;
  *Increased selectivity in Watches and Jewelry distribution;
  *Excellent performance of DFS and Sephora worldwide.

3. FISCAL YEAR FROM MAY 1, TO JUNE 30, 2013: MAIN AGGREGATES ^(e)
(2-month fiscal year following a change in the fiscal year-end date approved
by the Shareholders’ Meeting of October26,2012)

The Christian Dior group recorded revenue of 4.8billioneuros for the fiscal
year from May1 to June30,2013. Profit from recurring operations for the
fiscal year was 0.9billioneuros.

LVMH’s revenue for the period from May1 to June30,2013 amounted to
4,536millioneuros. Profit from recurring operations totaled
850millioneuros.

Christian Dior Couture had revenue of 237millioneuros for the fiscal year
from May1 to June30,2013 and profit from recurring operations of
35millioneuros.

A detailed financial release will be published in early October, after the
Board of Directors has approved the financial statements for the fiscal year
ended June30,2013.

(e) Figures not yet audited.

OUTLOOK

Despite an uncertain European economic environment, the Christian Dior group
will continue to gain market share thanks to the numerous product launches
planned before the end of the year and its geographic expansion in promising
markets, while continuing to manage costs.
Our strategy of focusing on quality across all our activities, combined with
the dynamism and unparalleled creativity of our teams, will enable us to
reinforce, once again in 2013, the Group’s global leadership position in
luxury goods.

                                     * *

                                      *

APPENDIX: Revenue by business group and by accounting period

This announcement constitutes regulated information and is made available on
the Company’s website (www.dior-finance.com).

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 Group - Revenue by business group and accounting period (*)

Fiscal year ended
April 30, 2013 (12                                                                   
months)
                                                                             
          
            Christian             Fashion                                     Other
                        Wines     and       Perfumes    Watches   Selective
(EUR        Dior        and                 and         and                   activities     Total
millions)                         Leather                         Retailing   and
            Couture     Spirits             Cosmetics   Jewelry
                                  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       (102)          7,441
to
October
31, 2012
Period
from
November
1, 2012     339         1,324     2,760     951         724       2,477       (111)          8,464
to
January
31, 2013
Period
from
February    318         864       2,300     922         655       2,112       (97)           7,074
1 to
April 30,
2013
                                                                             
                                                                                             
Total       1,289       4,208     9,936     3,678       2,826     8,303       (359)          29,881
                                                                             
                                                                                             
                                                                                             
Fiscal year ended
April 30, 2012 (4
months)
                                                                             
                                                                                             
            Christian             Fashion                                     Other
                        Wines     and       Perfumes    Watches   Selective
(EUR        Dior        and                 and         and                   activities     Total
millions)                         Leather                         Retailing   and
            Couture     Spirits             Cosmetics   Jewelry
                                  Goods                                       eliminations
                                                                             
                                                                                             
Period
from
January 1   284         926       2,374     899         630       1,823       (76)           6,860
to March
31, 2012
                                                                             
                                                                                             
Total       371         1,196     3,101     1,188       853       2,385       (101)          8,993
                                                                             
                                                                                             
                                                                                             
                                                                                             
Fiscal year ended
December 31, 2011 (12
months)
                                                                             
                                                                                             
            Christian             Fashion                                     Other
                        Wines     and       Perfumes    Watches   Selective
(EUR        Dior        and                 and         and                   activities     Total
millions)                         Leather                         Retailing   and
            Couture     Spirits             Cosmetics   Jewelry
                                  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
                                                                             
                                                                                             
Total       1,000       3,524     8,712     3,195       1,949     6,436       (188)          24,628
                                                                             
                                                                                             
                                                                                             
(*) Figures rounded
to the nearest digit.

                             30 AVENUE MONTAIGNE
                                    PARIS
                                   F-75008

Contact:

Christian Dior
PHONE +33 (0)1 44 13 22 22