LVMH Q3 2002 Sales 2002 Third Quarter Sales In Euro million + 2% 8,661 8,850 2,976 3,032 Q3 2001 Q3 2002 2001 2002 9 months 2 LVMH Q3 2002: Sales highlights • Good resilience of our major brands in challenging environment • Internal growth improves in Q3 due to: • New product launches • Successful store openings • Tourist travel slowly improving • Negative currency effect hedged at operating income level 3 LVMH Nine months 2002 Sales by region in Euros In % 0% 17 17 France +10% 17 18 Europe +6% 27 28 US +3% Japan 14 15 -9% 18 16 Asia 7 -9% 6 ROW 9 months 9 months 2001 2002 4 LVMH Nine months 2002 Sales Growth in Mainland US in $ 9 months 2002 Champagne +21% Hennessy Cognac +5% Louis Vuitton +5% Perfumes & Cosmetics +6% TAG Heuer +8% Sephora (including .com) +32% Total + 18% 5 LVMH Nine months 2002 Sales Growth in Japan in Yen 9 months 2002 Champagne +11% Hennessy Cognac -13% Fashion & Leather +18% of which Louis Vuitton +12% Perfumes & Cosmetics +9% Watches & Jewelry +23% Total + 11% 6 Wines & Spirits - Q3 2002 Sales In Euro million + 3% 1,409 1,458 554 542 784 827 Champagne 335 Champagne + 5% & Wines 329 & Wines 219 625 631 Cognac 213 Cognac + 1% & Spirits & Spirits Q3 2001 Q3 2002 2001 2002 NB Pommery sales excluded since May 2002 9 months 7 Wines & Spirits - Q3 2002: Sales highlights Champagne • Growth continues with YTD volumes up by 10% • Good performance in US, UK, and Japan • US depletions continue steady growth • Krug sales progress well 8 Wines & Spirits - Q3 2002: Sales highlights Cognac • Growth continues with YTD volumes up 5%: sales impacted by negative currency effect • Strong performances in US & Asia • Continued rise in premium quality XO in Japan • Market share strengthened globally • Successful distribution realignment negotiated in US 9 Fashion & Leather - Q3 2002 Sales In Euro million + 14% 3,028 1,003 2,647 903 Q3 2001 Q3 2002 2001 2002 9 months 10 Louis Vuitton in Q3 • Good performance in challenging environment • Sales recovery since mid-August in tourist regions (eg Hawaï) • Strong sales in September, especially in Japan • Successful launch of new products • Tambour watch • LV Cup line • Record sales for Omotesando store on the opening day • Events in Q4 • Opening of new major stores in November (Florence,Kobe) • New advertising campaign • New Bob Wilson line in stores at year-end 11 LVMH Fashion Group • Most brands perform well due to local clientele • Particularly encouraging performances by Marc Jacobs, Berluti, Celine • Marc Jacobs remarkable success in the US • Berluti double digit growth in Japan and Europe • Success of Celine’ new Boogie bag • Fendi : new management structure in place • Successful roll-out of new store concept continues • Excellent reception of Spring/Summer collections • Dior/ Vuitton/ Fendi/ Pucci 12 Perfumes & Cosmetics - Q3 2002 Sales In Euro million +4% 1,563 1,620 523 561 Q3 2001 Q3 2002 2001 2002 9 months 13 Perfumes & Cosmetics - Q3 2002: Sales highlights • Sales in Q3 increased by a strong 12% at constant exchange rates • Increased market share for Parfums Christian Dior • Successful launch of new female fragrance Dior Addict • Roll out of Givenchy pour Homme and Eau Torride • Double-digit sales growth at BeneFit Cosmetics, Fresh 14 Watches & Jewelry - Q3 2002 Sales In Euro million -1% 389 384 127 129 3rd parties + 2% Q3 2001 Q3 2002 2001 2002 9 months 15 Watches & Jewelry Q3 2002: Sales highlights • LVMH brands continue to grow • 9 months to September: + 2 % • Sales momentum improving at TAG Heuer • New watches in stores • Strong US sales • Endorsements from Tiger Woods and Sarah Fisher • Exceptional sales growth for Montres Christian Dior • Chaumet performs well in Japan,Korea and Europe 16 Selective distribution - Q3 2002 Sales In Euro million 862 798 -8% 2,575 2,359 Q3 2001 Q3 2002 * 9 months 2001 incl. Sephora.com 2001 2002 9 months 17 Selective distribution - Q3 2002 Sales highlights DFS • Gradual recovery in sales trends: • Q3 sales 15% below last year • Important currency impact in Q3 • Concession relief discussions continue with several airports • Maintain objective of breakeven for full year Sephora • US double-digit growth in US$ continues • Same-store sales >20 % for the first 9 months • Good performances in Spain and Portugal in Q3 • Total stores : 469 at Sep 30 18 Conclusion • Group’s star brands are performing well • Strong local demand continues • Recovery in travel retail slow • Currency effects in sales hedged at operating level Q4 geo-political certainties remain but.. • Further product launches • New store openings scheduled • Continue to concentrate on main brands, focus on profitability and cash flow Confirm objective of significant rebound in 2002 Operating Income 19 LVMH Q3 2002 Sales.