War in Ukraine, interest rate hikes, stock markets at half mast, threat of recession… None of the clouds that darken the horizon is slowing down LVMH's strong growth.
Sales of the world leader in luxury jumped another 19% in the third quarter of 2022, to 19.75 billion euros.
This performance, which exceeded analysts' expectations, is in line with the first half (+21%).
It is driven by the fashion and leather goods division (+24%) and selective distribution (+20%).
Read alsoLVMH will reduce its energy consumption by 10% by 2023
LVMH offset the slowdown in its growth in the United States (+11%) with excellent sales in Europe.
Up 35% on the Old Continent,
"they took advantage of the resumption of international travel and the strength of the dollar, which favored the spending of American tourists in the area"
, underlines Jean-Jacques Guiony, chief financial officer of LVMH. .
This health is all the more remarkable as, unlike the first six months of 2022, the period compares to a solid third quarter in 2021, marked by the gradual easing of health restrictions around the world.
While the group recorded a slight rebound at the start of the school year, turnover for the first nine months of the year rose less in China than in its other geographies.
In China (just over a third of the luxury giant's activity), the situation is less flourishing.
While the group recorded a slight rebound there at the start of the school year, turnover for the first nine months of the year rose less than in its other geographies.
And activity remains far from being back to normal.
Read alsoLVMH will reduce its energy consumption by 10% by 2023
In question: the medical round trips which regularly paralyze the country's megacities.
The group says it is
“confident in the continuation of the current growth”
.
On the Paris Stock Exchange, the LVMH share had closed perfectly stable on Tuesday, ahead of this publication.
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