Louis Vuitton 2011 Annual Report Download - page 140
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LVMH 2011
Finance
02 / 20
STOCK EXCHANGE PERFORMANCE
AND SHAREHOLDER STRUCTURE
EVOLUTION IN LVMH SHARES
In a climate of high uncertainty, notably relating to the euro-
zone, the equity markets experienced an eventful year in 2011.
No specific trend was evident in the first half of the year,
which was nevertheless marked by periods of significant vola-
tility during events in the Middle East and the Fukushima
disaster in Japan, but global stock markets took a downturn
during the summer. In July, concerns were fueled by the di-
culties in reaching an agreement in Europe on the restructuring
of Greek debt and the increased risk of the crisis spreading to
other countries. At the same time, discussions in the United
States about raising the debt ceiling continued and were
followed by the downgrading of the country’s credit rating by
Standard & Poor’s. Against this backdrop, and with the economy
continuing to show signs of slowdown during the summer, a
climate of mistrust quickly took hold. While fluctuating with
each political decision and declaration, overall the markets
were not able to return to a positive trend. Indices finished the
year at equilibrium in the United States, but other major
international stock markets ended down. In this turbulent
environment, LVMH continued to enjoy strong sales. The
LVMH share price, which had risen 64% and 57% in 2009 and
2010 respectively, proved resilient, ending the year down
11.1%, a smaller drop than the market.
By comparison, the CAC 40 and Eurostoxx 50 indices
ended the year down 17.0% and 17.1% respectively.
LVMH shares closed at €109.40 on December 30, 2011.
On that date LVMH’s market capitalization amounted to
€55.6 billion, making LVMH the third largest company on the
Paris stock exchange.
LVMH is included in the major French and European
indices used by fund managers, namely the CAC 40,
DJ-EuroStoxx 50, MSCI Europe, and FTSE-Eurotop 100.
LVMH is also included in the Global Dow, an index of the
most innovative, vibrant and influential corporations from
around the world, and the FTSE4Good and DJSI STOXX
index, the main indices of socially responsible investment.
LVMH shares are listed for trading on the Euronext Paris
Eurolist (Reuters Code: LVMH.PA, Bloomberg code: MC FP,
ISIN Code: FR0000121014). In addition, negotiable options on
LVMH shares are traded on Euronext.lie.
TOTAL SHAREHOLDER RETURN
An LVMH shareholder who invested €1,000 on January 1,
2007 would have capital of €1,525 on December 31, 2011,
based on reinvested dividends. In five years, his investment
would have given him an average annual return of around
8.8%.
COMPARISON OF THE LVMH SHARE PRICE AND THE CAC 40 SINCE JANUARY 1, 2008
Volume of transactionsLVMH CAC 40 rebased Average monthly volume
'126$--0$0)-'126$--0$0)-'126$--0$0)-'126$--0$0)-
(in euros)