LVMH Moet Hennessy Management Discusses Q3 2013 Results - Earnings Call Transcript

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LVMH Moet Hennessy Louis Vuitton SA (OTCPK:LVMHF) Q3 2013 Earnings Call October 16, 2013 3:30 AM ET

Executives

Chris Hollis – Director, Financial Communications

Jean-Jacques Guiony – CFO

Analysts

Luca Solca – Exane BNP

Mario Ortelli – Sanford C. Bernstein & Co.

Thomas Chauvet – Citigroup

Warwick Okines – Deutsche Bank

Catherine Rolland – Kepler Cheuvreux

Antoine Belge – HSBC

Julian Easthope – Barclays

John Guy – Berenberg

Matthias Eifert – MainFirst

Operator

Welcome to the LVMH Third Quarter Revenue Conference Call. I hand over to Mr. Chris Hollis. Sir, please go ahead.

Chris Hollis

Thank you. Hello I am Chris Hollis, Director of Financial Communications at LVMH and with me is Jean-Jacques Guiony, our Chief Financial Officer. Thank you for joining us. We have some brief remarks to make about LVMH’s revenue for the first nine months of 2013. As in previous periods these revenue figures are reported in accordance with IFRS. After these remarks Jean-Jacques and I will be happy to take your questions.

Before I begin I must remind you that certain information to be discussed on today’s call is forward-looking and is subject to important risks and uncertainties that could cause actual results to differ materially. For these I refer you to the Safe Harbor Statement included in our press release.

Turning now to our third quarter nine months revenue announcement, hopefully you’ve all had the chance to read our release which was issued yesterday evening in both French and English. As always the release is available on LVMH’s website, www.lvmh.com, as are the slides that we’re using today to guide today’s conversations.

So turning to slide two of the slides. Performance in the third quarter continued the trend we saw in the first half of 2013, delivering 8% organic revenue growth, up from 6% in the year-ago period. The growth initiatives

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