LVMH : Growth momentum still visible in 2020 despite the context
>We moderately increase our forecasts for 2020 after a generally convincing end to 2019 - Our estimates for 2019, which were slightly below the consensus, were exceeded: 2019 operating profit came to € 11.5bn whereas we looked for € 11.3bn, underlying EPS amounted to € 14.6 whereas we expected € 13.9. As discussed in our note commenting on the results, the excellent performance in the fashion & leather goods division in H2 (margin of 34.7% close to the highs in the re...LVMH Moet Hennessy Louis Vuitton is a manufacturer and retailer of luxury goods. Co. offers champagne and wines, cognac and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewelery; and is engaged in selective retailing. Its operations are organized along five business segments: Wine and Spirits, Fashion and Leather Goods, Perfumes and Cosmetics, Watches and Jewelery, and Selective Retailing. Co. is also engaged in other activities (Media with Les Echos group, La Samaritaine and Luxury yacht with Royal Van Lent). Some of Co.'s brands are Moet & Chandon, Dom Perignon, Louis Vuitton, Fendi, Donna Karan, Parfums Christian Dior, Guerlain, Parfums Givenchy, and TAG Heuer.
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