LVMH net profit up 2.1x in 2021

LVMH, the world’s largest luxury goods company, concluded 2021 with an increase in net profit to 17.2 billion euros. The prior year saw a net profit of 8.3 billion euros. The company’s annual revenue jumped 44% to 64.2 billion euros. LVMH’s free cash flow increased by 121% to 13.5 billion euros. The total company’s net debt increased by the end of the reporting year to 9.6 billion euros, or by 127%. Sales growth was observed in all company departments. It was facilitated by the improvement in the circumstances in the global economy. LVMH’s watch and jewelry division led the mode in terms of sales growth. The indicator was 167%. Clothing sales increased by 46%, perfumes, and cosmetics – by 26%. The capitalization of LVMH is currently 344 billion euros. For 12 months, it showed an increase of 35%. After the publication of the annual report, the company’s shares rose by 1.5%.

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Arseny Kudrin

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