LVMH H2 profitability more under pressure than expected
Although we are maintaining our forecast for poor FY sales (-1% organically), we are more cautious on profitability in view of a greater negative FX impact than initially expected, especially for the Wines & Spirits division. We have cut our 2024-25 earnings by 3%. New PT at EUR770 vs EUR800 pr
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.