Combined Shareholders Meeting. October 26, 2012

Transcription

1 Combined Shareholders Meeting October 26, 2012 This document is a free translation into English of the original French presentation to the Combined Shareholders Meeting. In the event of a conflict in interpretation, reference should be made to the French version, which is the authentic text.

2 CHRISTIAN DIOR GROUP FINANCIAL STATEMENTS AS OF APRIL 30, 2012: 4-MONTH FISCAL YEAR Fiscal year 2011 Fiscal year ended April 30, 2012 January 1, 2011 December 31, 2011(*) April 30, 2012(*) (*) Fiscal year-end dates Reminder of the resolution adopted at the Shareholders Meeting of April 5, 2012 New fiscal year-end date: April 30 Objective: optimize the flow of dividends within the Group

3 CHRISTIAN DIOR GROUP CONSOLIDATED INCOME STATEMENT (EUR millions) Revenue Gross margin Marketing and selling expenses General and administrative expenses Profit from recurring operations Other operating income and expenses Operating profit Net financial income (expense) Income taxes Income (loss) from investments in associates Net profit before minority interests Minority interests Net profit, Group share April 30, 2012 (4 months) 8,993 5,865 (3,335) (721) 1,809 (80) 1,729 (7) (535) 3 1,

4 CHRISTIAN DIOR GROUP REVENUE BREAKDOWN BY BUSINESS GROUP April 30, 2012 (4 months) as % of total revenue Fashion and Leather Goods Selective Retailing 34% 27% Christian Dior Couture 4% Watches and Jewelry 9% Wines and Spirits 13% Perfumes and Cosmetics 13%

5 CHRISTIAN DIOR GROUP REVENUE BREAKDOWN BY GEOGRAPHIC REGION OF DELIVERY April 30, 2012 (4 months) as % of total revenue France 11% United States 22% Europe (excluding France) 19% Japan 8% Other markets 10% Asia (excluding Japan) 30%

6 CHRISTIAN DIOR GROUP REVENUE BREAKDOWN BY INVOICING CURRENCY April 30, 2012 (4 months) as % of total revenue Euro 23% US dollar 28% Other currencies 41% Yen 8%

7 Ready-to-Wear Collection Spring-Summer 2013

8 CHRISTIAN DIOR GROUP CONSOLIDATED FREE CASH FLOW (EUR billions) 2.1 Interest (0.1) Income taxes (0.5) Total change in working capital April 30, 2012 (4 months) (0.7) Operating investments (0.5) 0.3 CASH FROM OPERATIONS BEFORE CHANGES IN WORKING CAPITAL (*) Before financial investments, transactions relating to equity and financing activities FREE CASH FLOW(*)

9 CHRISTIAN DIOR GROUP FINANCIAL STRUCTURE April 30, 2012 EUR billions Non-current assets 74% 50% Total equity 31% Non-current liabilities Inventories and work in progress Other current assets 16% 10% Assets 19% Liabilities and equity Current liabilities

10 CHRISTIAN DIOR GROUP CONSOLIDATED TOTAL EQUITY AND NET FINANCIAL DEBT (EUR billions) AS OF DECEMBER 31, AS OF DECEMBER 31, AS OF APRIL 30, Gearing: 21% Gearing: 24% Gearing: 27% TOTAL EQUITY NET FINANCIAL DEBT

11 Diorissimo bag

12 Dior Jewelry My Dior

13 Dior Watches Dior VIII Grand Bal Résille Dior VIII

14 CHRISTIAN DIOR COUTURE CHRISTIAN DIOR COUTURE April 30, 2012 (4 months) EUR millions 371 Strong growth for retail revenue Improvement in profitability Arrival of Raf Simons 22 New exhibition dedicated to the Brand Revenue Profit from recurring operations

15 CHRISTIAN DIOR COUTURE Lady Dior as seen by EXHIBITION IN TOKYO

16 CHRISTIAN DIOR COUTURE REOPENING OF THE GINZA BOUTIQUE IN TOKYO

17 CHRISTIAN DIOR COUTURE REVENUE BREAKDOWN BY BUSINESS ACTIVITY April 30, 2012 (4 months) as % of total revenue Retail and other activities 90% License royalties 3% Wholesale activities 7%

18 CHRISTIAN DIOR COUTURE RETAIL REVENUE BREAKDOWN BY GEOGRAPHIC REGION OF DELIVERY April 30, 2012 (4 months) as % of total revenue Europe and Middle East 42% Americas 9% Asia-Pacific 49%

19 Ready-to-Wear Collection Spring-Summer 2013

20 LVMH WINES AND SPIRITS April 30, 2012 (4 months) EUR millions 1, Robust demand: strong revenue growth (+22% at current exchange rates) Worldwide leadership of Champagne and Cognac brands Value-creation strategy Revenue Profit from recurring operations

21 LVMH FASHION AND LEATHER GOODS April 30, 2012 (4 months) EUR millions 3,101 Strong revenue growth (+17% at current exchange rates) Continuing robust progress by Louis Vuitton 1,023 Growth momentum for the other brands, particularly Céline Revenue Profit from recurring operations

22 LVMH PERFUMES AND COSMETICS April 30, 2012 (4 months) EUR millions 1, Revenue: +13% at current exchange rates Tremendous vitality of the emblematic fragrances J Adore, Miss Dior and Dior Homme Excellent start for La Petite Robe Noire, Guerlain s new perfume Revenue Profit from recurring operations Solid progress for Guerlain s Orchidée Impériale skincare line

23 LVMH WATCHES AND JEWELRY April 30, 2012 (4 months) EUR millions 853 Strong revenue growth Vertical integration strategy and extension of the network of owned stores Revenue 85 Profit from recurring operations Excellent performance for Bulgari, notably its Serpenti collection Dynamism and creativity

24 LVMH SELECTIVE RETAILING April 30, 2012 (4 months) EUR millions 2,385 Revenue: +28% at current exchange rates Excellent growth momentum for DFS and Sephora 263 Ambitious renovation and extension program at Le Bon Marché Revenue Profit from recurring operations

25 Ready-to-Wear Collection Autumn-Winter

26 CHRISTIAN DIOR GROUP PROPOSED RESOLUTION 18: MODIFICATION OF THE FISCAL YEAR-END DATE TO JUNE 30 Objective: optimize financial communication and monitoring of the Group s business activity and financial results, while maintaining the optimization of the flow of dividends New fiscal year-end date: June 30 Does not apply to the current fiscal year, which will end on April 30, 2013 Exceptionally, the fiscal year immediately following the current fiscal year will last two months, from May 1 to June 30, 2013 Fiscal year 2012 / 2013 Fiscal year ended June 30, 2013 Fiscal year 2013 / 2014 May 1, 2012 April 30, 2013(*) June 30, 2013(*) June 30, 2014(*) (*) Fiscal year-end dates

27 CHRISTIAN DIOR PROPOSED GROSS DIVIDEND PER SHARE Dividends paid in Dividends paid in Dividends paid in % % Fiscal year Fiscal year Fiscal year ended 04/30/ Final Interim Dividend proposed to the Shareholders Meeting, to be paid on December 4, 2012

28 CHRISTIAN DIOR GROUP REVENUE OVERVIEW AS OF JULY 31, 2012 REVENUE (EUR millions) Period from May 1 to July 31, 2012 (3 months) Period from May 1 to July 31, 2011 (3 months) Growth at current exchange rates Christian Dior Couture % Wines and Spirits % Fashion and Leather Goods 2,413 2, % Perfumes and Cosmetics % Watches and Jewelry (*) % Selective Retailing 1,834 1, % Other activities and eliminations (49) (32) - TOTAL 6,902 5, % (*) Revenue for Bulgari is taken into account from July 1, 2011

29 Haute Couture Collection Autumn-Winter

30 Combined Shareholders Meeting October 26, 2012