Lvmh closes 2025 with revenue at 80.8 billion (-5%) and operating margin at 22%

The recurring operating profit reached EUR 17.8 billion, down 9% from EUR 19.6 billion in 2024, corresponding to anoperating margin of 22%, which was penalised by the effects of currency fluctuations.

Group net profit stood at EUR 10.9 billion, down 13% compared to the 2024 net profit of EUR 12.55 billion. Operating free cash flow rose to EUR 11.3 billion, up 8% from EUR 10.5 billion in the previous year.

At the shareholders' meeting on 23 April 2026, Lvmh will propose the distribution of a dividend of€13 per share. An interim dividend of €5.50 per share has already been paid on 4 December 2025. The balance of EUR 7.50 per share will be paid on 30 April 2026.

Despite a geopolitical and macroeconomic context that remains uncertain, the group remains confident and will continue its strategy centred on brand development, supported by continuous investment and innovation, as well as an extremely rigorous search for desirability and quality in products and distribution channels, reads the French luxury giant's press release.

Looking ahead to 2026, "in an environment that remains uncertain", Arnault reiterated that "the ability of our maisons to inspire dreams, combined with the utmost attention to cost management and environmental and social commitments, will once again be a decisive factor in strengthening our leadership in the luxury market". The Group, he concluded, "will continue to remain faithful to its entrepreneurial tradition as a future-oriented family group, focused on sustainable creativity, top-quality products, exceptional spaces and the long-term preservation of a savoir-faire of excellence".

Thanks to the agility of its teams, its entrepreneurial spirit and a well-diversified presence of its different business lines in the geographic areas where its customers operate, Lvmh aims to strengthen its global leadership in the luxury goods sector in 2026, the note concludes.

Lvmh carried out a partial buyout of the Loro Piana shares held by the Loro Piana family in 2025 and strengthened its position by increasing its

stake from 85% to 94% through the acquisition of an additional 9% of the shares for a value of €1 billion, through the exercise of a call option under the terms of the original agreement that brought Loro Piana into the Group in 2013.

"The transaction reflects the extraordinary and consistent results achieved by Loro Piana over the years, which have led to a more than four-fold increase in the company's value since its entry into Lvmh, and testifies to the Group's full confidence in the Maison's future growth. It also reflects the Loro Piana family's conviction that Lvmh is the ideal partner to support the future development of the brand, preserving its distinctive identity and ongoing commitment to the search for the finest materials," reads the group's communication.

Maria Luisa and Pier Luigi Loro Piana will continue to be members of Loro Piana's board of directors, ensuring the protection of the maison's heritage and actively contributing to the strategic supervision of the brand's future.

French group Lvmh announced the acquisition of 80% of Italian luxury brand Loro Piana on 8 July 2013. The deal saw the luxury giant led by Bernard Arnault take over the majority stake for an estimated €2 billion, with the Loro Piana family retaining a 20% stake. The new acquisition of 9% at a price of one billion, values the company at over EUR 11 billion.