Combined Shareholders’ Meeting
October 18, 2013
This document is a free translation into English of the original French presentation to the Combined Shareholders’ Meeting.
In the event of a conflict in interpretation, reference should be made to the French version, which is the authentic text.
CHRISTIAN DIOR GROUP
� New fiscal year-end date adopted at the Shareholders’ Meeting of October 26, 2012 : June 30
(*) Fiscal year-end dates
May 1,2012
June 30,2014(*)
April 30,2013(*)
June 30,2013(*)
Fiscal year 2012 / 2013
Fiscal yearended
June 30, 2013Fiscal year 2013 / 2014
FINANCIAL STATEMENTS AS OF APRIL 30, 2013:12 MONTH FISCAL YEAR
CONSOLIDATED INCOME STATEMENT
1,431Net profit, Group share
19,556Gross margin
6,090Profit from recurring operations
3,931Net profit before minority interests
(129)Net financial income (expense)
(1,916)Income taxes
2,500Minority interests
5Income (loss) from investments in associates
5,971Operating profit
(119)Other operating income and expenses
(11,162)Marketing and selling expenses
(2,304)General and administrative expenses
29,881Revenue
April 30, 2013
(12 months)(EUR millions)
CHRISTIAN DIOR GROUP
Fashion and Leather Goods Selective Retailing
Wines and Spirits
Perfumes and Cosmetics
Christian Dior Couture
Watches and Jewelry
REVENUE BREAKDOWNBY BUSINESS GROUP
33% 28%
14%
12%
4%
9%
April 30, 2013 (12 months)as % of total revenue
CHRISTIAN DIOR GROUP
REVENUE BREAKDOWNBY GEOGRAPHIC REGION OF DELIVERY
29%
11%
22%
11%
19%
8%
Asia (excluding Japan)
France
United States
Other markets
Europe (excluding France)
Japan
CHRISTIAN DIOR GROUP
April 30, 2013 (12 months)as % of total revenue
Other currencies
US dollarEuro
Yen
41%
27%24%
8%
REVENUE BREAKDOWNBY INVOICING CURRENCY
CHRISTIAN DIOR GROUP
April 30, 2013 (12 months)as % of total revenue
(EUR billions)CONSOLIDATED FREE CASH FLOW
7.5
2.5
FREE CASH FLOW (*)
(2.0)
Income
taxes
(0.9)
Total change in
working capital
(1.9)
Operating
investments
(0.2)
Interest
CASH FROM OPERATIONSBEFORE CHANGES
IN WORKING CAPITAL
(*) Before financial investments, transactions relating to equity and financing activities
April 30, 2013 (12 months)
CHRISTIAN DIOR GROUP
FINANCIAL STRUCTURE
Liabilities and equityAssets
April 30, 2013EUR billions
55.6 55.6
Non-currentassets
Inventories and work in progress
Othercurrent assets
Total equity
Non-currentliabilities
Currentliabilities
50%
31%
19%
74%
16%
10%
CHRISTIAN DIOR GROUP
CONSOLIDATED TOTAL EQUITYAND NET FINANCIAL DEBT
28.0
6.2
26.0
6.9
APRIL 30, 2012
24.9
6.1
24%
DECEMBER 31, 2011 APRIL 30, 2013
27% 22%
TOTAL EQUITY NET FINANCIAL DEBT GEARING
CHRISTIAN DIOR GROUP
(EUR billions)
CHRISTIAN DIOR COUTURE
131
1,289
• 23% growth in retail sales revenue atactual exchange rates
• Creativity and powerful appeal of products
• Sustained, selective investments
• Original marketing focused on the Brand and its savoir-faire
Profit fromrecurringoperations
Revenue
April 30, 2013 (12 months)EUR millions
CHRISTIAN DIOR COUTURE
CHRISTIAN DIOR COUTURE
License royalties
2%
Wholesale activities
8%
Retail andother activities
90%
April 30, 2013 (12 months)as % of total revenue
REVENUE BREAKDOWNBY BUSINESS ACTIVITY
RETAIL AND OTHER REVENUE BREAKDOWNBY GEOGRAPHIC REGION OF DELIVERY
CHRISTIAN DIOR COUTURE
Americas
9%
Asia-Pacific
46%
Europe andMiddle East
45%
April 30, 2013 (12 months)as % of total revenue
WINES AND SPIRITSLVMH
Profit fromrecurringoperations
Revenue
1,330
4,208
• Revenue up 13% at actual exchange rates
• Global leadership and prestige of ourChampagne and Cognac brands
• Value creation strategy
April 30, 2013 (12 months)EUR millions
FASHION AND LEATHER GOODSLVMH
Profit fromrecurringoperations
Revenue
3,220
9,936
• Revenue up 8% at actual exchange rates
• Exceptional profitability of Louis Vuitton
• Remarkable performance at Céline
• Momentum at other Houses
April 30, 2013 (12 months)EUR millions
PERFUMES AND COSMETICSLVMH
Profit fromrecurringoperations
Revenue
414
3,678
• Revenue up 10% at actual exchange rates
• Exceptional performance at Parfums Christian Dior
• Remarkable achievements by Guerlain’s La Petite Robe Noireperfume and Orchidée Impérialeskincare line
• Strong growth from Benefit, Freshand Make Up For Ever
April 30, 2013 (12 months)EUR millions
WATCHES AND JEWELRYLVMH
Profit fromrecurringoperations
Revenue
335
2,826
• Revenue up 16% at actual exchange rates
• Strong performances from TAG Heuer, Hublot, Zenith and Bulgari
• Strategy of integrating technologicaland manufacturing savoir-faire
• Targeted development of the directlyowned store network
April 30, 2013 (12 months)EUR millions
SELECTIVE RETAILINGLVMH
Profit fromrecurringoperations
Revenue
877
8,303
• Revenue up 19% at actual exchange rates
• Excellent performance at DFS and momentum from Asian clientele
• Strong growth from Sephora in all markets
• Rapid development of Miami Cruiseline
April 30, 2013 (12 months)EUR millions
PROPOSED GROSS DIVIDEND PER SHARECHRISTIAN DIOR
Dividend proposed at the Shareholders’ Meeting
1.80
€2.90
Fiscal year ended
04/30/2013
1.10
Final dividend to be paid on December 3, 2013Interim dividend paid on April 25, 2013
CONCLUSION AND OUTLOOKCHRISTIAN DIOR GROUP
� Power of our brands
� Entrepreneurial spirit
� Talent and savoir-faire
� Ambition