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LVMH (ENXTPA: MC) 1H18 Results: Asia’s Shoppers Drive Another Standout Performance

Executive Summary

  • LVMH reported a stellar first half, with double-digit revenue growth, strong gross-margin gains and controlled increases in expenses resulting in a 29% jump in operating profit.
  • The company’s Fashion and Leather Goods business drove growth, with revenues up 15% on comparable terms. The company noted strong demand from Asia in a number of its divisions.
  • For FY18, consensus calls for LVMH to grow revenues by 8.5% and EBIT by 14.6%, and to report diluted EPS of €11.70, which would be a 14.9% year-over-year increase.

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