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CDI - Christian Dior SE News Story

€624 2.5  0.4%

Last Trade - 14/05/21

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £96.95bn
Enterprise Value £142.34bn
Revenue £38.46bn
Position in Universe 8th / 850

Christian Dior : First-half results as of December 31, 2014

Fri 13th February, 2015 5:30pm
Christian Dior : First-half results as of December 31, 2014

FINANCIAL RELEASE
First hALF RESULTS AS OF DECEMBER 31, 2014

In the period from July 1 to December 31, 2014, the Christian Dior group recorded revenue of 17.5 billion euros, profit from recurring operations of 3.2 billion euros, and a Group share of net profit of 1.7 billion euros. Free cash flow, before financial investments, transactions relating to equity and financing activities, was 2.8 billion euros for the period. The Group maintained strong momentum in the United States. Europe demonstrated good resilience despite the economic environment, while Asian countries displayed mixed trends.

(EURmillions)First half of the 2014/2015 fiscal year (from July 1 to December 31, 2014)First half of the 2013/2014 fiscal year (from July 1 to December 31, 2013) (a)
Revenue 17,473 16,125
Profit from recurring operations 3,247 3,399
Net profit 4,385 2,161
of which: Group share1,704794
Free cash flow(b) 2,805 2,562
(a) Figures restated with retrospective application of IFRS 10 and 11 on consolidation
(b) Before financial investments, transactions relating to equity and financing activities

First-half revenue for Christian Dior Couture was 854 million euros, up 13% at actual exchange rates and 11% at constant exchange rates compared with the same period in 2013. The excellence of the Maison Dior's savoir-faire and its dynamism were reflected in the success of its Leather Goods, Ready-to-Wear collections, Accessories and Jewelry. All regions participated in generating this robust growth. Profit from recurring operations was 120 million euros, up 11% compared to 2013.
For the 12-month period from January 1 to December 31, 2014, Christian Dior Couture posted revenue of 1,602million euros, up 13% at actual exchange rates and 14% at constant exchange rates versus the same period in 2013. Profit from recurring operations for this 12-month period was 203 million euros, up 23% compared to 2013.

Half-year revenue for LVMH (from July 1 to December 31, 2014) was 16.6 billion euros, reflecting growth of 8% at actual exchange rates compared with the same period in 2013. Profit from recurring operations for the 6-month period was 3.1billion euros.


For LVMH, the half-year period was marked by:

  • Good momentum in the United States and continued growth in Europe,
  • Wines and Spirits' performance penalized by the destocking by distributors in China,
  • The success of new products at Louis Vuitton, where profitability remains at an exceptional level,
  • Continued investment in the fashion brands,
  • Worldwide market share gains by Parfums Christian Dior,
  • Strong progress at Sephora,
  • Excellent results from Bvlgari.

Half year revenue and profit from recurring operations by business group for the Christian Dior group were as follows:

REVENUE

(EURmillions)First half of the 2014/2015 fiscal year (from July 1 to December 31, 2014)First half of the 2013/2014 fiscal year (from July 1 to December 31, 2013) (a)Change atactual exchange ratesOrganic
growth (b)
Christian Dior Couture 854 756 + 13% +11%
Wines and Spirits 2,296 2,378 -3% -3%
Fashion and Leather Goods 5,798 5,172 +12% +3%
Perfumes and Cosmetics 2,077 1,913 +9% +8%
Watches and Jewelry 1,516 1,422 +7% +5%
Selective Retailing 5,152 4,705 +10% +8%
Other activities and eliminations (220) (221) - -
Total17,47316,125+8%+5%
(a) Figures restated with retrospective application of IFRS 10 and 11 on consolidation
(b) At constant structure and exchange rates. The structural impact, mainly related to the consolidation of Loro Piana, was +2%, and the exchange rate impact was +1%

PROFIT FROM RECURRING OPERATIONS

(EURmillions)First half of the 2014/2015 fiscal year (from July 1 to December 31, 2014)First half of the 2013/2014 fiscal year (from July 1 to December 31, 2013) (a)Change atactual exchange rates
Christian Dior Couture 120 108 +11%
Wines and Spirits 686 828 -17%
Fashion and Leather Goods 1,702 1,642 +4%
Perfumes and Cosmetics 211 214 -1%
Watches and Jewelry 176 212 -17%
Selective Retailing 484 496 -2%
Other activities and eliminations (132) (101) -
Total3,2473,399-4%
(a) Figures restated with retrospective application of IFRS 10 and 11 on consolidation


Revenue and profit from recurring operations by business group for the Christian Dior group for the 12-month calendar year ended December 31, 2014 were as follows:

REVENUE

(EURmillions)Period from
January 1 to
December 31, 2014
(12 months)
Period from
January 1 to
December 31, 2013
(12 months)(a)
Change atactual exchange ratesOrganic
growth (b)
Christian Dior Couture 1,602 1,413 +13% +14%
Wines and Spirits 3,973 4,173 -5% -3%
Fashion and Leather Goods 10,828 9,883 +10% +3%
Perfumes and Cosmetics 3,916 3,717 +5% +7%
Watches and Jewelry 2,782 2,697 +3% +4%
Selective Retailing 9,534 8,903 +7% +8%
Other activities and eliminations (420) (381) - -
Total32,21530,405+6%+5%
(a) Figures restated with retrospective application of IFRS 10 and 11 on consolidation
(b) At constant structure and exchange rates. The structural impact, mainly related to the consolidation of Loro Piana, was +2%, and the exchange rate impact was -1%

PROFIT FROM RECURRING OPERATIONS

(EURmillions)Period from
January 1 to
December 31, 2014
(12 months)
Period from
January 1 to
December 31, 2013
(12 months)(a)
Change atactual exchange rates
Christian Dior Couture 203 165 +23%
Wines and Spirits 1,147 1,367 -16%
Fashion and Leather Goods 3,189 3,135 +2%
Perfumes and Cosmetics 415 414 -
Watches and Jewelry 283 367 -23%
Selective Retailing 882 908 -3%
Other activities and eliminations (221) (195) -
Total5,8986,161-4%
(a) Figures restated with retrospective application of IFRS 10 and 11 on consolidation

OUTLOOK

Despite a climate of economic, currency and geopolitical uncertainties, the Christian Dior group is well-equipped to continue its growth momentum across all business groups in 2015. The Group will maintain a strategy focused on developing its brands by continuing to build on strong innovation and a constant quest for quality in their products and their distribution.
Driven by the agility of its teams and the balance of its different businesses and geographic diversity, the Christian Dior group enters 2015 with confidence and maintains its objective of increasing its global leadership position in luxury goods.

The Board of Directors of Christian Dior met on February 12, 2015 and decided on the payment, on April 23, 2015, of an interim dividend of a gross amount of 1.25 euros per share.

Limited review procedures have been carried out, and the Statutory Auditors' report on the half-year financial information is in the process of being issued.

On December 17, 2014, as previously announced (see releases dated September 3, November 3, and December 2, 9, 11 and 17, 2014), the Company made exceptional distributions of Herms shares. During the period and to date, no other events or changes have occurred which could significantly modify the Group's financial structure.

* *
*

APPENDIX1: Half year revenue by business group and by quarter

APPENDIX2: Revenue and profit from recurring operations by business group and by period

This announcement constitutes regulated information and is made available on the Company's website (www.dior-finance.com).

Some of the statements contained in this financial release may include or be based on forward-looking information. Major risk factors, uncertainties as well as elements either beyond our control or unable to be anticipated as of this writing may thus cause actual results to differ significantly from those expressed or implied by the forward-looking information in this financial release. The statements made herein reflect our vision of the Group's business activities as of the date of this financial release. Accordingly, readers are cautioned not to place undue reliance on the information thus provided. Furthermore, it should be noted that we undertake no obligation to update publicly or otherwise revise any forward-looking statements.


APPENDIX1

Christian Dior group - Half year revenue by business group and by quarter (*)

First half of the 2014/2015 fiscal year
(EURmillions) Christian Dior Couture Wines and Spirits Fashion and Leather Goods Perfumes and Cosmetics Watches and Jewelry Selective Retailing Other activities and eliminations Total
Quarter from July 1 to September 30, 2014 417 948 2,647 961 706 2,234 (114) 7,799
Quarter from October 1 to December 31, 2014 437 1,348 3,151 1,116 810 2,918 (106) 9,674
Total8542,2965,7982,0771,5165,152(220)17,473
First half of the 2013/2014 fiscal year (restated) (a)
(EURmillions) Christian Dior Couture Wines and Spirits Fashion and Leather Goods Perfumes and Cosmetics Watches and Jewelry Selective Retailing Other activities and eliminations Total
Quarter from July 1 to September 30, 2013 368 1,032 2,428 879 655 2,093 (103) 7,352
Quarter from October 1 to December 31, 2013 388 1,346 2,744 1,034 767 2,612 (118) 8,773
Total7562,3785,1721,9131,4224,705(221)16,125
First half of the 2013/2014 fiscal year (published) (b)
(EURmillions) Christian Dior Couture Wines and Spirits Fashion and Leather Goods Perfumes and Cosmetics Watches and Jewelry Selective Retailing Other activities and eliminations Total
Quarter from July 1 to September 30, 2013 369 1,032 2,428 879 677 2,101 (109) 7,377
Quarter from October 1 to December 31, 2013 389 1,347 2,743 1,034 797 2,622 (122) 8,810
Total7582,3795,1711,9131,4744,723(231)16,187

(a)Figures restated with retrospective application of IFRS 10 and 11 on consolidation
(b) Figures do not take into account IFRS 10 and 11

(*) Values rounded to the nearest whole number


APPENDIX2

Christian Dior group - Revenue and profit from recurring operations by business group and by period (*)

REVENUE

Periods from January1 to December 31, 2014
(EURmillions) Christian Dior Couture Wines and Spirits Fashion and Leather Goods Perfumes and Cosmetics Watches and Jewelry Selective Retailing Other activities and eliminations Total
Period from January1 to March31, 2014 357 888 2,639 941 607 2,222 (98) 7,556
Period from April 1 to June30, 2014 390 789 2,391 898 659 2,160 (101) 7,186
Period from July 1 to September 30, 2014 417 948 2,647 961 706 2,234 (114) 7,799
Period from October 1 to December 31, 2014 437 1,348 3,151 1,116 810 2,918 (106) 9,674
Total1,6023,97310,8283,9162,7829,534(420)32,215
Periods corresponding to the previous year (a)
(EURmillions) Christian Dior Couture Wines and Spirits Fashion and Leather Goods Perfumes and Cosmetics Watches and Jewelry Selective Retailing Other activities and eliminations Total
Period from January1 to March31, 2013 315 967 2,383 932 608 2,113 (93) 7,225
Period from April 1 to June30, 2013 342 828 2,328 872 667 2,085 (67) 7,055
Period from July 1 to September 30, 2013 368 1,032 2,428 879 655 2,093 (103) 7,352
Period from October 1 to December 31, 2013 388 1,346 2,744 1,034 767 2,612 (118) 8,773
Total1,4134,1739,8833,7172,6978,903(381)30,405

(a)Figures restated with retrospective application of IFRS 10 and 11 on consolidation

PROFIT FROM RECURRING OPERATIONS

Period from January1 to December 31, 2014
(EURmillions) Christian Dior Couture Wines and Spirits Fashion and Leather Goods Perfumes and Cosmetics Watches and Jewelry Selective Retailing Other activities and eliminations Total
Total2031,1473,189415283882(221)5,898
Period from January1 to December 31, 2013 (a)
(EURmillions) Christian Dior Couture Wines and Spirits Fashion and Leather Goods Perfumes and Cosmetics Watches and Jewelry Selective Retailing Other activities and eliminations Total
Total1651,3673,135414367908(195)6,161

(a)Figures restated with retrospective application of IFRS 10 and 11 on consolidation

(*) Values rounded to the nearest whole number




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Christian Dior via Globenewswire

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