French Fashion Giant LVMH Posts 23% Revenue Growth In FY22 - Lvmh Moet Hennessy Louis (OTC:LVMHF)

French luxury fashion house LVMH-Moet Hennessy Louis Vuitton LVMHF registered FY22 sales growth of 23% year-on-year to €79.2 billion.
Fashion & Leather Goods organic revenue rose 20%, with Louis Vuitton, Christian Dior, Celine, Fendi, Loro Piana, Loewe, and Marc Jacobs gaining global market share.
Profit from recurring operations stood at €21.1 billion, a 23% increase Y/Y and the operating margin remained flat.
Europe, the U.S., and Japan rose sharply, benefiting from strong demand from local customers and the recovery of international travel.
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Developments in the health situation in China caused a damper on Asia sales.
The company had an operating free cash flow of €10.1 billion and a net debt of €9.2 billion.
"We approach 2023 with confidence but remain vigilant due to current uncertainties," said chairman and CEO Bernard Arnault.
At the General Meeting of April 20, 2023, LVMH will propose a dividend of €12 per share.
Price Action: LVMHF shares closed lower by 2.64% at $847 on Thursday.
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