LVMH Moet Hennessy Louis Vuitton announced on Tuesday that its net profit for 2024 stood at 12.550 billion euros, marking a 17% decline from the 15.174 billion euros recorded the previous year. The profit from recurring operations also fell by 14%, totaling 19.571 billion euros.
In terms of revenue, the company reported 84.683 billion euros for 2024, which reflects a 2% decrease compared to last year's 86.153 billion euros. The organic growth for the year was recorded at 1%.
Despite facing a challenging economic and geopolitical climate, along with tough comparisons following a period of exceptional post-Covid growth, LVMH successfully reported organic growth. On a constant consolidation scope and currency basis, Europe and the United States experienced growth, while Japan achieved double-digit revenue growth. The rest of Asia benefited from the robust spending of Chinese customers in Europe and Japan.
