Louis Vuitton 2003 Annual Report Download - page 14

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12 LVMH ANNUAL
REPORT 2003
ONE OF THE BEST PERFORMERS
IN THE CAC 40
After the serious geopolitical tensions
that marked the first half of the year,
the appearance of SARS (Severe Acute
Respiratory Syndrome), and the
decline of the US dollar, the economic
outlook improved thanks to a quick
end to the war in Iraq and an economic
recovery in the United States and Asia.
Following a three-year negative trend,
the international stock markets per-
formed significantly better against the
backdrop of this improved economic
outlook. In particular, the CAC 40 and
the DJ-EuroStoxx50 gained 16%, while
the Dow Jones Industrial average rose
25% over the year.
In 2003, the LVMH share performed
remarkably well on the stock market,
posting a gain of 47%. After a stable
performance over the first three
months, demonstrating outstanding
resistance in a difficult environment,
the share price continued its strong
upward trend until the end of the year.
This performance is even more note-
worthy when compared with the CAC
40 Index. LVMH outperformed the
CAC 40 by over 25% for the second
consecutive year, outperforming it by
27% in 2003 to close the year at 57.70
euros.
At year-end, the market capitalization
of LVMH was 28.3 billion euros,
making it the tenth largest on the
Paris stock exchange. LVMH is inclu-
ded in the principal French and Euro-
pean indices used by fund managers:
CAC 40, DJ-EuroStoxx 50, MSCI
Europe, FTSE Eurotop 100, Euronext
100.
LVMH shares are listed on the Premier
Marché of Euronext Paris (Reuters
code: LVMH.PA, Bloomberg code:
MC FP; and ISIN code FR0000121014).
In addition, options on LVMH shares
are traded on the Paris Monep options
exchange.
LVMH is among the French companies
recognized by the three principal US,
French and European socially respon-
sible investment indices.
AN UNUSUALLY GOOD RETURN
FOR THE SHAREHOLDER
An LVMH shareholder who invested
1,000 euros on January 1, 1999 would
have 2,009 euros at December 31,
2003, factoring in a one-for-ten stock
allotment in June 1999 and reinvested
dividends. The initial investment
would, therefore, have grown an
average 15% a year.
THE LVMH SHARE
THE LVMH SHARE PERFORMS REMARKABLY WELL ON THE
STOCK MARKET
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
20
25
30
35
40
45
50
55
60
DNOSAJJMAMFJ
Comparison between LVMH share price and CAC 40 since january 1, 2003
Trading volume LVMH CAC 40 Average monthly volume