Louis Vuitton 2004 Annual Report Download - page 18

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16
COMPARISON BETWEN LVMH SHARE PRICE AND CAC 40 SINCE JANUARY 1, 2003
–Trading volume –LVMH –CAC 40 –Average monthly volume
CHANGES IN THE
LVMH SHARE PRICE
In 2004, significant macro-economic
disruptions (fluctuations in currency rates,
worsening American deficits, rising oil
and raw materials prices) were a counter-
weight to the strong growth of the global
economy and the substantial improve-
ment in corpo-rate earnings. As a result,
there was no net trend on international
stock markets. The leading European and
American indices recorded modest
growth, with the DJ-Eurostoxx 50 and
CAC 40 indices up 6.9% and 7.4% respec-
tively, while the Dow Jones Industrial
gained 3.1% between January 1 and
December 31, 2004.
In this mixed environment, the LVMH
share, after a very favorable 2003, decli-
ned about 2% in 2004. Since January 1,
2003, it has maintained a positive
growth differential of almost 20 points
with the CAC 40 index.
The LVMH share closed 2004 at ¤56.35.
The market capitalization of LVMH was
¤27.6 billion, placing LVMH ninth in the
CAC 40 index.
LV M H i s i n cluded in the principal French
and European indices used by fund
managers: CAC 40, DJ-EuroStoxx 50,
MSCI Europe, FTSE-Eurotop 100, and
Euronext 100.
LV M H s h a r e s are traded on the Premier
Marché of Euronext Paris (Reuters code:
LV M H.PA, Bloomberg code: MC FP; and
ISIN code FR0000121014). In addition,
options based on LVMH shares are
traded on the Paris Monep options
exchange.
TOTAL SHAREHOLDER
RETURN
An LVMH shareholder who invested
¤1,000 on January 1, 2003 would have
capital of ¤1,451 at December 31, 2004,
based on reinvested dividends. In two
years, the initial investment would have
returned an annual average of over 20%.
The LVMH
Share
LVMH IS ONE OF THE FRENCH
COMPANIES RECOGNIZED
BY THE THREE PRINCIPAL
US, FRENCH AND EUROPEAN
SOCIALLY RESPONSIBLE
INVESTMENT INDICES.
0
10
20
30
40
50
60
70
DNOSAJJMAMFJDNOSAJJMAMFJ
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
DNOSAJJMAMFJDNOSAJJMAMFJ
2003 2004