TRANSLATION OF THE FRENCH DOCUMENT DE REFERENCE FISCAL YEAR ENDED DECEMBER 31, 2009
ContentsLVMH GROUPHistory FinancialHigHligHts ExEcutivEandsupErvisoryBodiEs;statutoryauditors simpliFiEdorganizationalcHart BusinEssdEscription
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MANAGEMENT REPORT OF THE BOARD OF DIRECTORSlvmHgroup parEntcompany:lvmHmoEtHEnnEssy-louisvuittonsa HumanrEsourcEs lvmHandtHEEnvironmEnt
2323 49 67 83
REPORT OF THE CHAIRMAN OF BOARD OF DIRECTORS FINANCIAL STATEMENTSconsolidatEdFinancialstatEmEnts parEntcompanyFinancialstatEmEnts:lvmHmoEtHEnnEssy-louisvuittonsa
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OTHER INFORMATIONcorporatEgovErnancE gEnEralinFormationrEgardingtHEparEntcompany;stockmarkEtinFormation
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RESOLUTIONS FOR THE APPROVAL OF THE COMBINED SHAREHOLDERS MEETING OF APRIL15, 2010 RESPONSIBLE COMPANY OFFICER; FINANCIAL INFORMATION TABLES OF CONCORDANCEThis document is a free translation into English of the original French Document de Rfrence, hereafter referred to as the Reference Document. It is not a binding document. In the event of a conflict in interpretation, reference should be made to the French version, which is the authentic text.
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LVMH group
HistoRyAlthough the history of the LVMH Group began in 1987 with the merger of Mot Hennessy and Louis Vuitton, the roots of the Group actually stretch back much further, to eighteenth-century Champagne, when a man named Claude Mot decided to build on the work of Dom Prignon, a contemporary of LouisXIV; and to nineteenth-century Paris, famous for its imperial celebrations, where Louis Vuitton, a craftsman trunk-maker, invented modern luggage. Today, the LVMH Group is the worlds leading luxury goods company, the result of successive alliances among companies that, from generation to generation, have successfully combined traditions of excellence and creative passion with a cosmopolitan flair and a spirit of conquest. These companies now form a powerful, global group in which the historic companies share their expertise with the newer brands, and continue to cultivate the art of growing while transcending time, without losing their soul or their image of distinction.From the 16thcentury to the present:16thcentury 18thcentury
1573 WenJun 1593 Chteau dYquem 1729 1743 1765 1772 1780 1815 1828 1832 1843 1846 1849 1852 1854 1858 1860 1865 1870 1891 1893 1895 1908 1916 1925 1936 Ruinart Mot & Chandon Hennessy Veuve Clicquot Chaumet Ardbeg Guerlain Chteau Cheval Blanc Krug Loewe Royal Van Lent Le Bon March Louis Vuitton Mercier TAG Heuer Zenith La Samaritaine Montaudon Glenmorangie Berluti
19thcentury
20thcentury
LesEchos Acqua di Parma Fendi Dom Prignon Fred 1942 Rossimoda 1945 Cline
1947 Parfums Christian Dior Emilio Pucci 1952 Givenchy 1957 Parfums Givenchy 1960 DFS Domaine Chandon 1963 Miami Cruiseline 1969 Sephora 1970 Kenzo 1976 Cape Mentelle Benefit Cosmetics 1977 Newton 1980 Hublot 1984 Thomas Pink Marc Jacobs Donna Karan Make Up For Ever 1985 Cloudy Bay 1988 Parfums Kenzo 1991 Fresh StefanoBi 1993 Chopin 1996 Belvedere 1998 Numanthia Termes 1999 Terrazas de los Andes21stcentury
2001 DeBeers Diamond Jewellers 2003 Cheval des Andes 2005 10Cane
Reference Document 2009
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LVMH groupFinancial highlights
Financial HigHligHtsKey consolidated data(EUR millions and percentage)
200917,053 3,352 1,973 1,755 3,928 748 14,785 2,994 20%
200817,193 3,628 2,318 2,026 4,096 1,039 13,793(2) 3,869 28%
200716,481 3,555 2,331 2,025 4,039 990 12,434(2) 3,094 25%
Revenue Profit from recurring operations Net profit Net profit, Group share Cash from operations before changes in working capital(1) Operating investments Total equity Net financial debt(3) Net financial debt/Total equity ratio
(1) Before tax and interest paid. (2) Restated to reflect the retrospective application as of January1, 2007 of IAS 38 Intangible assets as amended. See Note1.2 of the notes to the consolidated financial statements. (3) Net financial debt does not take into consideration purchase commitments for minority interests included in Other non-current liabilities. See Note17.1 of the notes to the consolidated financial statements for definition of net financial debt.
Data per share(EUR)
20093.71 3.70
20084.28 4.26
20074.27 4.22
Earnings per share Basic Group share of net profit Diluted Group share of net profit Dividend per share Interim Final Gross amount paid for fiscal year(4)(5)(4) Excludes the impact of tax regulations applicable to the beneficiary. (5) For fiscal year 2009, amount proposed at the Ordinary Shareholders Meeting of April15, 2010.
0.35 1.30 1.65
0.35 1.25 1.60
0.35 1.25 1.60
Information by business group(EUR millions)
20092,740 6,302 2,741 764 4,533 (27) 17,053
20083,126 6,010 2,868 879 4,376 (66) 17,193
2007(6)3,226 5,628 2,731 833 4,164 (101) 16,481
Revenue by business group Wines and Spirits Fashion and Leather Goods Perfumes and Cosmetics Watches and Jewelry Selective Retailing Other activities and eliminations Total Profit from recurring operations by business group Wines and Spirits Fashion and Leather Goods Perfumes and Cosmetics Watches and Jewelry Selective Retailing Other activities and eliminations Total(6) Restated after reclassifying La Samaritaine from Selective Retailing to Other activities.
760 1,986 291 63 388 (136) 3,352
1,060 1,927 290 118 388 (155) 3,628
1,058 1,829 256 141 426 (155) 3,555
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Reference Document 2009
LVMH groupFinancial highlights
Information by geographic region2009Revenue by geographic region of delivery (%) France Europe (excluding France) United States Japan Asia (excluding Japan) Other markets Total Revenue by invoicing currency (%) Euro US dollar Yen Hong Kong dollar Other currencies Total Number of stores France Europe (excluding France) United States Japan Asia (excluding Japan) Other markets Total 353 620 531 307 470 142 2,423 331 596 531 256 485 115 2,314 306 523 463 253 409 94 2,048 30 27 10 5 28 100 32 28 10 4 26 100 31 30 11 4 24 100 14 21 23 10 23 9 100 14 24 23 10 20 9 100 14 23 25 11 19 8 100
2008
2007
Reference Document 2009
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4
Reference Document 2009
LVMH groupExecutive and Supervisory Bodies; Statutory Auditors
ExEcutivE anD supERvisoRy BoDiEs; statutoRy auDitoRsBoardoFdirEctorsMembers as of December 31, 2009 Bernard Arnault Chairman and Chief Executive Officer Antoine Bernheim(1) Vice-Chairman Pierre God Vice-Chairman Antonio Belloni Group Managing Director Antoine Arnault Delphine Arnault Jean Arnault Nicolas Bazire Nicholas Clive Worms(1) Charles de Croisset(1) Diego Della Valle(1) Albert Frre Gilles Hennessy Patrick Houl Lord Powell of Bayswater Felix G.Rohatyn Yves-Thibault de Silguy(1) Hubert Vdrine(1) Nomination proposed at the Shareholders Meeting of April 15, 2010 Hlne Carrre dEncausse(1)
ExEcutivEcommittEEBernard Arnault Chairman and Chief Executive Officer Antonio Belloni Group Managing Director Pierre God Vice-Chairman Nicolas Bazire Development and Acquisitions Ed Brennan Travel retail Yves Carcelle Fashion and Leather Goods Chantal Gaemperle Human Resources Jean-Jacques Guiony Finance Christophe Navarre Wines and Spirits Patrick Ouart Advisor to the Chairman Philippe Pascal Watches and Jewelry Daniel Piette Investment Funds Pierre-Yves Roussel Fashion Mark Weber Donna Karan, LVMH Inc.
advisoryBoardmemberKilian Hennessy(1)
pErFormancEauditcommittEEAntoine Bernheim (1) Chairman Nicholas Clive Worms (1) Gilles Hennessy
gEnEralsEcrEtaryMarc-Antoine Jamet
nominationsandcompEnsation committEEAntoine Bernheim Chairman Charles de Croisset (1) Albert Frre(1)
statutoryauditorsDELOITTE & ASSOCIES represented by Alain Pons ERNST & YOUNG Audit represented by Jeanne Boillet and Olivier BreillotReference Document 2009
(1) Independent Director.
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LVMH groupSimplified organizational chart of the Group as of January31, 2010
simpliFiED oRganizational cHaRt oF tHE gRoup as oF JanuaRy 31, 2010
LVMH SA Diageo 34% 66% Mot Hennessy 99.9% LVMH FASHION GROUP SA
100% Mot & Chandon Mercier 99% Hennessy Louis Vuitton 100% Guerlain 100% Fred 100% Parfums Christian Dior
100% Le Bon March 100%
Ruinart 100%
100%
Belvedere
Berluti
100%
Kenzo Parfums
100%
Chaumet
100%
Franck & Fils
Krug
100%
Glenmorangie
Cline
100%
Parfums Givenchy
100%
Sephora
100%
Veuve Clicquot
100%
Wen Jun Spirits
Kenzo
100%
Make Up For Ever
100%
La Samaritaine
57%
Montaudon
100%
100%
Numanthia Termes
Givenchy
100%
Cloudy Bay
100%
100%
10 Cane
Newton Vineyards
90%
Cape Mentelle
100%
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Reference Document 2009
LVMH groupSimplified organizational chart of the Groupas of January31, 2010
100% SOFIDIV SAS
100% LVMH BV
100% LVMH Inc.
100% Groupe Les Echos SA
100% Other holding companies
100%
Fendi
100%
Loewe
Benefit Cosmetics
80%
100%
Miami Cruiseline
Les Echos
100%
Chteau dYquem
65%
96%
Pucci
90%
Royal Van Lent
Fresh
80%
61%
DFS US
Investir
100%
Chteau Cheval Blanc
50%
100%
Acqua Di Parma
Donna Karan
100%
100%
Sephora US
