The French luxury goods group Louis Vuitton Moet Hennessy (LVMH) has first time in 2010 the turnover exceeded EUR 20 billion mark and has achieved operating profit even when a new high.
result shared by all divisions
The annual result is impressive from all divisions of the widely diversified group supported:
division profit (in EUR billion) Change
wines and spirits 930 +22%
fashion and leather goods 2'555 ; ; +29%
perfumes and cosmetics 332 ; ; +14%
Uhren 128 +103%
(figures are in billions of €).
The numbers are impressive so far, when the "trade-down" effect (customers shift their consumption instead of cheaper products such as Single Malts single cask bottlings are blends drunk) in the data do not reflect
This can be attributed to several factors. euro weakness, Prolonged consumption in emerging countries (LVMH achieved in 2010 25% of the total profits in Asia ex-Japan, which means an increase of 20% on the year. 2009), Marketing.
Because of profit margin of 21.3% can be assumed that no business is retracted due to price reductions more sales and profits. Thus, given the company a reputation as a supplier of premium products .
Guests can also shareholders who have increased by 27% dividend (EUR 2.10 per share) made in view.
stain on the white shirt
addition to the still high debt (about EUR 19 billion, of which 1.8 billion short-term) and to more than EUR 5 billion (EUR 800 million in 2010) rise in goodwill in an equity (share capital plus reserves) of EUR 18.2 billion, still vote with care.
value adjustments are recorded on the goodwill of the amortization of equity could tip the balance between equity and debt again heavily on foreign financing side.
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