LVMH (MC) AGM 2026 summary

Opening remarks and agenda

• Meeting formally opened with appointment of scrutineers and secretary, confirmation of written Q&A process, and 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, with profit from recurring operations at €17.8 billion and net profit at €10.9 billion, both down year-on-year.

• Organic sales declined 1% year-on-year, with a 3-point negative currency effect; published sales were €81 billion.

• Operating free cash flow rose 8% to €11.3 billion, and net debt decreased to €7 billion.

• Operating investments totaled €4.6 billion, and operating margin stood at 22%.

• Revenue mix remained balanced across the US, Europe, and Asia, each contributing 26%.

Board and executive committee updates

• Leadership highlighted across divisions, with notable management continuity and new creative appointments.

• Emphasis on operational excellence and supply chain improvements, especially at Dior.