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LVMH (ENXTPA: MC) FY2015 Results: Earnings Miss Consensus Even as Revenues Hold Up

Executive Summary

  • LVMH Moët Hennessy Louis Vuitton reported 16.4% revenue growth for the year through December 2015. Organic revenue growth for the year was 6%.
  • Revenue of €35.7 billion was marginally above the consensus estimate of €35.6 billion.
  • Basic EPS fell by 36.9%, to €7.11, below the consensus estimate of €7.31.
  • The company noted “strong progress” in Europe, the US and Japan; a normalization of demand for its Wines & Spirits segment in China; and a positive impact from exchange rates.
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