LVMH Results Presentation Deck
Remarkable progress of operating free cash flow
which exceeded 13 billion euros in 2021
Analysis of free cash flow operations (in million of euros)
Cash from operations before changes
in working capital
Cost of net financial debt: interest paid
Lease liabilities: interest paid
Tax paid
Change in working capital
Net cash from operating activities
Operating investments
Repayment of lease liabilities
Operating free cash flow**
2019
28 2021 Annual Results
16 105
(124)
(239)
(2 940)
(1 154)
11 648
(3 294)
(2 187)
6 167
2020
13 997
(58)
(290)
(2 385)
(367)
10 897
(2 478)
(2 302)
6 117
* Including €1,720m in France
** Before available for sale financial assets and investments, transactions relating to equity and financing activities.
2021
22 621
71
(231)
(4 239)*
426
18 648
(2 664)
(2 453)
13 531
Variation vs 2020
8 624
129
59
(1 854)
792
7 751
(186)
(151)
7 414
Variation vs 2019
6 516
195
8
(1 299)
1 580
7 000
630
(266)
7 364
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