LVMH : Uncertain outlook, margin pressures: still confident on the case but estimates lowered further
>H1 shows slower growth as anticipated but the fall in EBIT is a bit stronger than expected at -8% (we looked for -5%) - LVMH reported H1 revenues of € 41,677m and EBIT of € 10,653m, whereas we looked for respectively € 42,124m and € 10,996m and the most recent Visible Alpha consensus for € 42,221m and € 10,998m. Sales missed expectations by 1% and EBIT by 3%. Overall organic growth in Q2 came in at +1% after +3% in Q1 (we looked for +2.5%). By geographical region, As...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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