LVMH net income up 17% in 2022
[ad_1]
At the end of 2022, the net profit of the French Louis Vuitton Moet Hennessy (LVMH) increased by 17%, to € 14.084 billion. In a press release from the company saysthat last year was a record year for many of its divisions.
According to the report, LVMH’s revenue grew by 23%, to €79.184 billion. The company’s net financial debt decreased by 4%, to €9.201 billion. The largest part of the revenue came from fashion and leather goods. There was also growth in business in Europe, Japan and the United States. For the fourth quarter of 2022, LVMH’s revenue grew by 13% to €22.699 billion.
In March 2022 LVMH announced on the temporary closure of 124 stores in Russia. In November, the Ministry of Industry and Trade of the Russian Federation turned on brands Hennessy and Moet, which are part of the LVMH group, on the list of goods that can be imported into the country under the parallel import scheme. Yesterday January 26, Moet Hennessy changed management of his “daughter” in Russia.
[ad_2]
Source link
