LVMHF - LVMH Moët Hennessy - Louis Vuitton Société Européenne (LVMHF) Q1 2024 Sales/Trading Statement Call (Transcript)
2024-04-16 17:14:08 ET
LVMH Moët Hennessy - Louis Vuitton, Société Européenne [LVMHF]
Q1 2024 Sales/Trading Statement Call
April 16, 2024, 12:00 p.m. ET
Company Participants
Rodolphe Ozun - Director, Financial Communications
Jean-Jacques Guiony - Chief Financial Officer
Conference Call Participants
Chiara Battistini - J.P. Morgan Chase
Erwan Rambourg - HSBC
Rogerio Fujimori - Stifel Nicolaus
Zuzanna Pusz - UBS
Ashley Wallace - Bank of America
Thomas Chauvet - Citigroup
Antoine Belge - BNP Paribas
Edouard Aubin - Morgan Stanley
Luca Solca - Bernstein
Louise Singlehurst - Goldman Sachs
Charles-Louis Scotti - Kepler Cheuvreux
Charmaine Yap - Redburn Atlantic
Chris Gao - CLSA
Liwei Hou - CICC
Paola Carboni - Equita SIM
Presentation
Rodolphe Ozun
Hello, everyone, and thank you for joining us for LVMH’s first quarter 2024 revenue announcement. I'm Rodolphe Ozun, Director of Financial Communications at LVMH, and with me is Jean-Jacques Guiony, our Chief Financial Officer. I will start by taking you through the highlights of the company's performance for the first quarter, and after these remarks, Jean-Jacques and I will be happy to take your questions.
As a reminder, 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 and on Slide 2 of our presentation.
Turning now to our announcement. Our release was just issued a while ago in both French and English, and is available on the LVMH website, lvmh.com, as are the Slides for today's call. We begin on Slide 3. For the first three months of the year, the group delivered 3% organic revenue growth on a particularly challenging comparison basis. Growth was supported by all regions except Asia ex-Japan, which we'll explain in further detail later. As far as divisions are concerned, you should be familiar with most of themes highlighted on this Slide. Many were already visible at the end of last year, notably a resilient performance from Fashion & Leather goods, and to a lesser extent, watches and jewelry, destocking in Wines and Spirits, and a strong performance from Sephora and our perfumes and cosmetics brands. ...
LVMH Moët Hennessy - Louis Vuitton, Société Européenne (LVMHF) Q1 2024 Sales/Trading Statement Call (Transcript)