LVMH (MC) AGM 2026 summary

Opening remarks and agenda

• Meeting formally opened with appointment of scrutineers and secretary; Annual General Meeting held on April 23, 2026, with presentations from key executives and auditors.

• Agenda included approval of 2025 financial statements and responses to shareholder questions.

Financial performance review

• 2025 revenue reached €80.8 billion, down 1% organically, with profit from recurring operations at €17.8 billion, down 9%, and free cash flow over €11.3 billion.

• Net profit, Group share, was €10.9 billion, a 13% decrease from the previous year; operating margin at 22%.

• Net debt reduced to €7 billion, about 10% of equity; net debt to equity ratio of 9.9%.

• Revenue mix balanced across US, Europe, and Asia, each contributing 26%; Japan at 8%, other markets at 14%.

• Exchange rate fluctuations and global economic uncertainty significantly impacted profit, especially in H2.

Dividend announcements

• Dividend for fiscal year 2025 proposed at €13 per share, stable year-on-year; interim dividend of €5.5 paid in December, balance of €7.5 to be paid in April.