LVMH, the world’s leading luxury goods group, has recorded a revenue of €84.7 billion (~$88.3 billion) in 2024, reflecting a decline of 2 per cent year-over-year (YoY). However, on an organic basis, revenue grew by 1 per cent, despite a challenging economic and geopolitical environment.
The net profit attributable to the group declined by 17 per cent to €12,550 million, and profit from recurring operations witnessed a decrease of 14 per cent YoY to €19.6 billion (~$20,410.6 million) in 2024, LVMH said in a press release.
Net profit fell 17 per cent to €12.55 billion, while profit from recurring operations dropped 14 per cent to €19.6 billion ($20.41 billion).
Operating free cash flow rose 29 per cent to €10.48 billion.
Fashion & leather goods led the segment with €41.06 billion in revenue.
Despite these reductions, operating free cash flow increased significantly by 29 per cent, rising to €10,478 million (~$10,924 million). Net financial debt was reduced by 14 per cent to €9,228 million in 2024, indicating a stronger financial position. Meanwhile, equity improved by 11 per cent reaching €69,287 million.
Fashion & Leather Goods segment remained the highest revenue contributor at €41,060 million (~$42,835 million), followed by selective retailing at €18,262 million.
Across the year, quarterly performance showed steady revenue contributions, with the fourth quarter recording the highest revenue at €23,930 million, followed by €20,983 million in the second quarter. The first half of the year saw a total revenue of €41,677 million, while the first nine months reached €60,753 million.
The group in 2024 allocated €5.5 billion towards operating investments, primarily focused on expanding its store network and enhancing production facilities. Of this total, €1.7 billion was invested in France.
Fibre2Fashion News Desk (SG)