LVMH FY24 Profit Down 17%

(RTTNews) - LVMH Moet Hennessy Louis Vuitton Tuesday reported that its 2024 net profit was 12.550 billion euros, down 17% from 15.174 billion euros last year.

Profit from recurring operations was 19.571 billion euros, a drop of 14%.

For 2024, revenue was 84.683 billion euros, down 2% from 86.153 billion euros. Organic growth for the year was 1%.

The company said it reported organic growth despite a challenging economic and geopolitical environment and a high basis of comparison following several years of exceptional post-Covid growth.

Europe and the United States posted growth on a constant consolidation scope and currency basis; Japan saw double-digit revenue growth; the rest of Asia reflected the strong growth in spending by Chinese customers in Europe and Japan.