<table border="0" cellpadding="0" cellspacing="0" width="100%" bgcolor="#42496e" align="right"> <tr height="19px"> <td bgcolor="#42496e" width="180px" align="left"></td> <td align="right" valign="bottom"> <table border="0" cellpadding="0" cellspacing="0"> <tr> <td> </td><td><COMBO_0 /></td> <td align="right"> </td> <td align="right"></td> <td> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td align="right"></td> </tr> </table> </td> </tr> </table> </td> </tr></table>
CHAIRMAN'S MESSAGE
FINANCIAL HIGHLIGHTS
INTERVIEW WITH
ANTONIO BELLONI
CORPORATE GOVERNANCE
THE LVMH SHARE
REVIEW OF OPERATIONS
WINES AND SPIRITS
Highlights
Key Figures
Review of operations
FASHION AND
LEATHER GOODS
Highlights
Key Figures
Review of operations
PERFUMES AND COSMETICS
Highlights
Key Figures
Review of operations
WATCHES AND JEWELRY
Highlights
Key Figures
Review of operations
SELECTIVE RETAILING
Highlights
Key Figures
Review of operations
SUSTAINABLE DEVELOPMENT
Human resources
Corporate sponsorship
Protecting the environment
FINANCIAL STATEMENTS
Consolidated balance sheet
and comments
Consolidated income
statement and comments
Consolidated cash flow
statement and comments
Consolidated statement
of changes in equity
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