LVMHF - LVMH: 2023 Earnings Reflect Strong Organic Growth But Stock Priced Fairly (Rating Downgrade)
2024-02-01 05:20:32 ET
Summary
- LVMH's Fashion & Leather Goods segment showed strong organic growth of 14% in 2023, while Perfumes & Cosmetics and Selective Retailing grew at 11% and 25%, respectively.
- Wines & Spirits segment saw a 4% decline, but signs indicate a potential rebound in 2024.
- LVMH maintained its margins and solid financial position, with low debt levels and strong cash generation.
Introduction
Last Thursday, the French giant LVMH (LVMHF) (LVMUY) presented its annual results for the year 2023. The purpose of this article is to review the points that I consider most relevant and important from this results presentation and update my company valuation models....
LVMH: 2023 Earnings Reflect Strong Organic Growth, But Stock Priced Fairly (Rating Downgrade)