2021 Annual Results

Tiffany's acquisition largely covered thanks to remarkable level of cash flow Net financial debt (in million of euros) 30 Opening net financial debt 4.241 31/12/2020 Résultats annuels 2021 Operating Financial investments free cash flow 13 315 - 13 531 Dividends paid 3 935 Others 1 647 Closing net financial debt 9.607 31/12/2021 LVMH

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