2021 Annual Results
Profit from recurring operations over 17 billion euros
doubled versus 2020 and up 49% versus 2019
Profit from recurring operations by business group (in million of euros)
2019
2020
2021
Change vs 2020
Change vs 2019
Wines & Spirits
1 729
1 388
1 863
Champagne & Wines
690
488
762
Cognac & Spirits
1.039
900
1 101
Fashion & Leather Goods
7 344
7 188
Perfumes & Cosmetics
683
80
12 842
+ 34%
+ 56%
+22%
+ 79%
+ 75%
+ 8%
+10%
+6%
684
> 200%
0%
Watches & Jewelry
736
302
1 679*
> 200%
Selective Retailing
1 395
(203)
Other activities and eliminations
(383)
(450)
Total LVMH
11 504
8 305
534
(451)
17 151
+ 107%
ns
+ 128%
- 62%
ns
ns
Operating margin (%)
21.4%
18.6%
26.7%
+8.1 pts
+ 49%
+ 5.3 pts
* Non-comparable structure.
23
2021 Annual Results
LVMHView entire presentation