LVMH Moët Hennessy - Louis Vuitton, Société Européenne (LVMHF) Q4 2022 Earnings Call Transcript

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LVMH Moët Hennessy - Louis Vuitton, Société Européenne (OTCPK:LVMHF) Q4 2022 Results Conference Call January 26, 2023 ET

Company Participants

Bernard Arnault - Chairman and CEO

Jean-Jacques Guiony - CFO

Conference Call Participants

Antoine Belge - Exane BNP Paribas

Edouard Aubin - Morgan Stanley

Luca Solca - Bernstein

Louise Singlehurst - Goldman Sachs

Natasha Brilliant - Credit Suisse

Bernard Arnault

Good evening. I'm delighted to be with you again. I think, it's two years now, Mr. Guiony, that we were not present, were perhaps on Zoom. Perhaps that meant that I didn't have to work. That was all well and good. But at least I'm very pleased to be with you this evening to announce, I want to say once again, at the risk of tiring you, record results for the group LVMH. You saw the chart that was published. We achieved just over €79 billion in revenue, just over €21 billion for profit from recurring operations and increased 23%, net income above €14 billion, free cash flow just over €10 billion. So, financial performance that’s quite remarkable. Really the consequence of the great work put in by the teams in the various Maisons in terms of the quality, the desirability of our products and our presence throughout the world that is both dynamic and outstanding and has allowed us during these difficult years marked by the economic crisis, in part, and above all by the health crisis to increase our market share. As I say on several occasions, in difficult times in terms of the macro economy or political difficulties, LVMH is gaining market share and making progress and this has been the case since 2019.

Organic growth is very significant. The reported growth at most of our brands is -- also in each of our divisions. We have creativity and innovation that

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