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โข Revenue: โฌ38.6B, down 3% reported (up 2% organic)
โข Recurring operating profit: โฌ8.69B, down 4%
โข Operating margin: 22.5%
โข Net profit: โฌ5.70B, flat YoY
โข Operating free cash flow: โฌ4.10B, up 2%
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โข Organic growth accelerated to +3% in Q2 (+4% excluding Middle East conflict), with Fashion & Leather Goods returning to organic growth
โข Watches & Jewelry led performance (+11% organic in Q2), while Sephora maintained strong momentum and Wines & Spirits showed signs of recovery
โข Net financial debt fell 19% to โฌ8.25B as cash flow remained strong
โข FY26 outlook unchanged, with LVMH maintaining confidence despite geopolitical uncertainty and focusing on brand desirability and premium execution
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"LVMH demonstrated its solidity and effective strategy... We are entering the second half of the year with renewed confidence in the long-term potential of our Maisons."