Bryan Garnier - LVMH (MC) LVMH H1 EBIT misses expectations

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Bryan Garnier

Loic Morvan ...

Paul Rouviere

LVMH H1 EBIT misses expectations

LVMH reported poor H1 results yesterday. Although top line momentum was almost in line with market anticipations thanks to 2% organic growth indicating a degree of resilience in the current environment, EBIT was clearly below the consensus (EUR10.65bn vs EUR11.04bn), implying a 180bp margin erosion

24/07/2024 1 EN

Underlying

LVMH

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Bryan Garnier

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.

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Analysts

Loic Morvan

Paul Rouviere

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LVMH H1 EBIT misses expectations

On the shelves now: Consumer Weekly #48

LVMH: Q3 sales down 3%, a clear deceleration vs Q2 (+1%), mainly due to China

On the shelves now: Consumer weekly #42

Cinclus: agreement with the FDA on the iPSP

BICO: divests Nanoscribe for EUR26m in line with BICO 2.0 Strategy

Exclusive Networks: expanding into the US with Cloudrise acquisition

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