Presentation

Financière Agache is a holding company controlled by the Agache company*. The Financière Agache group carries out most of its business activities in the luxury goods sector via its controlling shareholdings in Christian Dior and LVMH. The Financière Agache group also holds a portfolio of diversified financial investments.

* Previously named Groupe Arnault

Governance

BOARD OF DIRECTORS
FLORIAN OLLIVIER Chairman of the board
NICOLAS BAZIRE Representing
AGACHE SEDCS
LORD POWELL OF BAYSWATER
PIERRE DE ANDREA Representing
INVRY SAS
PIERRE DEHEN Representing
AGACHE PLACEMENTS SA
EXECUTIVE MANAGEMENT
FLORIAN OLLIVIER Chairman and Chief Executive Officer
NICOLAS BAZIRE Managing Director

STATUTORY AUDITORS
ERNST & YOUNG ET AUTRES Represented by Gilles Cohen
MAZARS Represented by Loïc Wallaert and Guillaume Machin

Simplified organizational chart as of

December 31, 2020




* Direct Shareholder interest of Financière Agache, the Arnault Family Group owning in total 97,5% of the share capital of Christian Dior
** Listed companies

Financial highlights consolidated 2020

Euros billion

Revenue 44,6
Net profit 4,9
Total equity 38,5

Key consolidated data

(EUR millions and percentage) 2020 2019 2018(1)
Revenue 44,651 53,671 46,831
Profit from recurring operations 8,294 11,487 10,000
Net profit, before minority share 4,953 7,674 6,905
Group share of net profit 1,913 2,786 1,499
Cash from operations before changes in working capital 13,979 16,085 11,490
Operating investments 2,477 3,332 3,038
Free operating cash flow (a) 6,000 6,105 5,305
Total equity 38,540 36,670 30,836
Net financial debt (b)(c) 5,651 7,775 7,915(a)
Net financial debt adjusted/ Total equity ratio (c) 14,7% 21,2% 25,7%
(a) See definition of free cash flow from operations in the consolidated accounts, at the level of the consolidated cash flow statement.
(b) Excluding rental debts and purchase commitments for minority interests, classified under Other non-current liabilities.
(c) Excluding the acquisition of Belmond shares at the end of 2018.


(1) The financial statements as of December 31, 2018 have not been restated to reflect the application of IFRS 16 Leases.

Revenue by business group

(EUR millions) 2020 2019 2018
Wines and Spirits 4,755 5,576 5,143
Fashion and Leather Goods 21,207 22,237 18,455
Perfumes and Cosmetics 5,248 6,835 6,092
Watches and Jewelry 3,356 4,405 4,123
Selective Retailing 10,155 14,791 13,646
Other activities and eliminations (70) (173) (628)
Total 44,651 53,671 46,831
2020
2019
2018