{"id":19759,"date":"2024-03-10T10:15:43","date_gmt":"2024-03-10T10:15:43","guid":{"rendered":"https:\/\/eavest.fr\/?post_type=eavestpedia&#038;p=19759"},"modified":"2025-06-02T15:54:30","modified_gmt":"2025-06-02T15:54:30","slug":"analyse-de-laction-lvmh","status":"publish","type":"eavestpedia","link":"https:\/\/eavest.fr\/en\/eavestpedia\/analyse-de-laction-lvmh\/","title":{"rendered":"Analyse de l\u2019action LVMH"},"content":{"rendered":"<p><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-19762 aligncenter\" src=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/07\/lvmh-logo-300x117.png\" alt=\"lvmh logo\" width=\"410\" height=\"160\" srcset=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/07\/lvmh-logo-300x117.png 300w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/07\/lvmh-logo-768x300.png 768w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/07\/lvmh-logo.png 798w\" sizes=\"(max-width: 410px) 100vw, 410px\" \/><\/p>\n<h2 style=\"text-align: justify;\"><strong>Pr\u00e9sentation de LVMH :<\/strong><\/h2>\n<div class=\"group\/conversation-turn relative flex w-full min-w-0 flex-col agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex w-full flex-col items-end gap-2 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"62fa0d0e-a9ff-4607-a385-5842eaac0ab8\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\n<div class=\"markdown prose w-full break-words dark:prose-invert dark\">\n<p><b>LVMH (Mo\u00ebt Hennessy Louis Vuitton) <\/b>est le leader mondial de l&#8217;industrie du luxe, avec une <b>capitalisation boursi\u00e8re de 300 milliards <\/b><b>d\u2019<\/b><b>euros<\/b>, regroupant un portefeuille exceptionnel de <b>75 Maisons couvrant les secteurs de la mode, de la maroquinerie, des parfums, de la joaillerie, des vins et spiritueux<\/b>, ainsi que de la distribution s\u00e9lective. Parmi ses marques embl\u00e9matiques figurent Louis Vuitton, Dior, Fendi, Givenchy, Bulgari et Hennessy.<\/p>\n<p>En 2024, le chiffre d&#8217;affaires de LVMH est principalement r\u00e9parti entre l&#8217;Asie (27,5%), les \u00c9tats-Unis (25,4%), l&#8217;Europe hors France (17,2%), le Japon (8,8%), la France (8,3%) et d&#8217;autres r\u00e9gions (12,8%).<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<h2 style=\"text-align: justify;\"><strong>Points cl\u00e9s :<\/strong><\/h2>\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex w-full flex-col items-end gap-2 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"78d20ac6-f2d3-48cf-b8dd-ef49210aeb3b\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<div class=\"flex-shrink-0 flex flex-col relative items-end\">\n<div class=\"pt-0\">\n<div class=\"gizmo-bot-avatar flex h-8 w-8 items-center justify-center overflow-hidden rounded-full\">\n<div class=\"relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8\">\n<p><u><b>R\u00e9sultats financiers<\/b><\/u><\/p>\n<ul>\n<li><b>Chiffre d\u2019affaires <\/b>: 20,3 milliards \u20ac au 1\u1d49\u02b3 trimestre 2025, soit <b>-2 %<\/b> en donn\u00e9es publi\u00e9es par rapport \u00e0 Q1 2024<\/li>\n<li><b>Cash-flow<\/b> : Une solide g\u00e9n\u00e9ration de tr\u00e9sorerie avec 10,5 milliards d&#8217;euros de cash-flow (2024) disponible d&#8217;exploitation.<\/li>\n<li><b>R\u00e9sultat net <\/b>: 12,5 milliards d&#8217;euros (2024), en baisse de 17,3 % par rapport \u00e0 2023, en raison d&#8217;une pression accrue sur certains march\u00e9s.<\/li>\n<li><b>Marge op\u00e9rationnelle <\/b>: Le r\u00e9sultat op\u00e9rationnel courant s&#8217;\u00e9tablit \u00e0 19,6 milliards d&#8217;euros (2024), marquant un repli par rapport \u00e0 l&#8217;ann\u00e9e pr\u00e9c\u00e9dente.<\/li>\n<\/ul>\n<p><u><b>Points d\u2019attention<\/b><\/u><\/p>\n<ul>\n<li><b>Ralentissement en Chine <\/b>: Une demande plus faible impacte les ventes des divisions Mode &amp; Maroquinerie et Parfums &amp; Cosm\u00e9tiques. Pression notable sur le cognac (Hennessy).<\/li>\n<li><b>Hausse des co\u00fbts <\/b>: L&#8217;augmentation des charges administratives et commerciales p\u00e8se sur la rentabilit\u00e9.<\/li>\n<li><b>Contexte<\/b> <b>g<\/b><b>\u00e9opolitique incertain<\/b><b>:<\/b> Appelant \u00e0 la vigilance sur les co\u00fbts et la visibilit\u00e9 \u00e0 court terme.<\/li>\n<\/ul>\n<p><u><b>Perspectives<\/b><\/u><\/p>\n<ul>\n<li><b>Expansion en Asie <\/b>: Renforcement des strat\u00e9gies digitales et de distribution pour capter la client\u00e8le chinoise et asiatique.<\/li>\n<li><b>Innovation et diversification <\/b>: Investissements accrus dans les nouvelles technologies et exp\u00e9riences clients.<\/li>\n<li><b>Strat\u00e9gie environnementale <\/b>: Acc\u00e9l\u00e9ration du programme LIFE 360 pour int\u00e9grer des pratiques plus durables dans toute la cha\u00eene de valeur.<\/li>\n<li><b>Maintien du leadership <\/b>: Consolidation des positions sur les segments les plus rentables et extension vers de nouveaux march\u00e9s.<\/li>\n<\/ul>\n<\/div>\n<div class=\"relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<hr \/>\n<h2><strong>Recommandations des analystes\u00a0:<\/strong><\/h2>\n<ul>\n<li><b>Bernstein<\/b> conseille de s&#8217;int\u00e9resser au titre avec une opinion \u00e0 <span style=\"color: #339966;\"><b>l&#8217;achat<\/b><\/span>. L&#8217;objectif de cours demeure inchang\u00e9 \u00e0 <b>\u00a0600 EUR<\/b><\/li>\n<li><b>JP Morgan<\/b> ne modifie pas sa recommandation <span style=\"color: #ff9900;\"><b>neutre<\/b> <\/span>avec un objectif de cours \u00e0 <b>610<\/b> <b>EU<\/b><b>R<\/b><\/li>\n<li><b>Jefferie<\/b><b>s<\/b> continue de conseiller sa position <span style=\"color: #ff9900;\"><b>neutre <\/b><\/span>sur le titre avec un objectif de cours \u00e0 <b>460 EUR<\/b><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-21003 size-full aligncenter\" src=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-06-02-143230.png\" alt=\"\" width=\"586\" height=\"250\" srcset=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-06-02-143230.png 586w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-06-02-143230-300x128.png 300w\" sizes=\"(max-width: 586px) 100vw, 586px\" \/><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<h2><strong>Dividendes et pr\u00e9visions :<\/strong><\/h2>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-21005 size-full aligncenter\" src=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-06-02-143422.png\" alt=\"\" width=\"572\" height=\"312\" srcset=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-06-02-143422.png 572w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-06-02-143422-300x164.png 300w\" sizes=\"(max-width: 572px) 100vw, 572px\" \/><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<h2><strong>Cours de l\u2019action LVMH au 02\/06\/2025:<\/strong><\/h2>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-21011 size-full aligncenter\" src=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-06-02-143604.png\" alt=\"\" width=\"1047\" height=\"660\" srcset=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-06-02-143604.png 1047w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-06-02-143604-300x189.png 300w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-06-02-143604-1024x646.png 1024w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-06-02-143604-768x484.png 768w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-06-02-143604-800x504.png 800w\" sizes=\"(max-width: 1047px) 100vw, 1047px\" \/><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><strong><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-18599\" src=\"https:\/\/eavest.fr\/wp-content\/uploads\/2023\/02\/Capture.jpg\" alt=\"\" width=\"27\" height=\"23\" \/>\u00a0\u00a0<span style=\"color: #ff0000;\">Avertissement :<\/span><\/strong><\/p>\n<p>Les donn\u00e9es relatives aux performances pass\u00e9es et\/ou simulations de performances pass\u00e9es ont trait ou se r\u00e9f\u00e8rent \u00e0 des p\u00e9riodes pass\u00e9es et ne sont pas un indicateur fiable des r\u00e9sultats futurs. Ceci est valable \u00e9galement pour les donn\u00e9es historiques de march\u00e9. Cette pr\u00e9sentation ne fait pas office de conseil en investissement.<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.produitsensouscription.com\/?code=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\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-18775\" title=\"Premi\u00e8re marketplace de produits structur\u00e9s\" src=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie.png\" alt=\"Premi\u00e8re marketplace de produits structur\u00e9s\" width=\"1000\" height=\"306\" srcset=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie.png 3963w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-300x92.png 300w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-1024x313.png 1024w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-768x235.png 768w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-1536x470.png 1536w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-2048x627.png 2048w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-1900x582.png 1900w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-1100x337.png 1100w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-800x245.png 800w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n","protected":false},"featured_media":0,"template":"","meta":[],"sujet":[],"sous-categorie-titre":[],"_links":{"self":[{"href":"https:\/\/eavest.fr\/en\/wp-json\/wp\/v2\/eavestpedia\/19759\/"}],"collection":[{"href":"https:\/\/eavest.fr\/en\/wp-json\/wp\/v2\/eavestpedia\/"}],"about":[{"href":"https:\/\/eavest.fr\/en\/wp-json\/wp\/v2\/types\/eavestpedia\/"}],"wp:attachment":[{"href":"https:\/\/eavest.fr\/en\/wp-json\/wp\/v2\/media\/?parent=19759"}],"wp:term":[{"taxonomy":"sujet","embeddable":true,"href":"https:\/\/eavest.fr\/en\/wp-json\/wp\/v2\/sujet\/?post=19759"},{"taxonomy":"sous-categorie-titre","embeddable":true,"href":"https:\/\/eavest.fr\/en\/wp-json\/wp\/v2\/sous-categorie-titre\/?post=19759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}