Moët Hennessy Louis Vuitton (LVMH) presented this Tuesday its results for the first half of the year, in which it recorded a net profit of 7.267 billion euros, which represents a fall of 14% from 8.481 billion harvested in the same period of the previous year. The firm details that these figures come in the midst of «a geopolitical and economic environment that remains uncertain», in which it has also recorded a 1% year-on-year drop in total revenue, which stood at €41.677 billion.
In the first half of the course, «Europe and the United States achieved growth with a scope for consolidation and a constant monetary base«, while Japan «recorded double-digit revenue growth» and the rest of Asia «reflected strong spending growth by Chinese customers in Europe and Japan.» The profit from recurring operations during the first half of 2024 amounted to 10.7 billion euros, which equates to an operating margin of 25.6%, «significantly exceeding pre-Covid levels.» «The results for the first half of the year reflect LVMH's remarkable resilience, backed by the strength of its 'Maisons' and the responsiveness of its teams in a climate of economic and geopolitical uncertainty. Driven as always by our dual focus on desirability and responsibility, we have continued to work to achieve the objectives set out in our environmental and social action programmes,» he said. Bernard ArnaultChairman and CEO of LVMH. Looking ahead, he anticipates that, «while remaining vigilant in the current context, the Group faces the second half of the year with confidence and will rely on the agility and talent of its teams to further strengthen its global leadership position in luxury goods in 2024.» The company has also reported that it will pay a interim dividend of 5.50 euros per share on 4 December.