Luxury industry: LVMH’s profit and income decreased in the first half of this year

By: Trademagazin Date: 2024. 07. 24. 11:59

The profit of LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury goods manufacturer, fell by 14 percent and its revenue by 1 percent in the first half of this year compared to the same period last year.

According to the data published on the website of the French company, the profit after tax was 7.27 billion euros in the second quarter of this year, falling short of the 8.48 billion euros a year earlier. Profit from continuing operations fell by 8 percent to 10.65 billion euros.

Revenue fell from EUR 42.24 billion to EUR 41.68 billion. The so-called organic growth of revenues, adjusted for exchange rate fluctuations and company acquisition effects, was 2 percent. The average of the analysts’ opinion included a higher revenue of 42.22 billion euros and a more significant profit of 7.45 billion euros.