Loewe SA almost doubles its profits in 2022

At Loewe, the strategy of managing director Pascale Lepoivre and the success of creative director Jonathan Anderson drove performance last year. According to the accounts filed with the Spanish Chamber of Commerce and sent to Europapress by Infoempresa, Loewe SA closed its 2022 financial year with a 37% increase in sales to EUR 626 million. Gross profit, at more than 161 million euros, was 92% higher than in 2021.

On the basis of the activities of its Spanish entity, the company ended the financial year with a profit of almost 128 million euros, or 87% more than in 2021. The company also doubled its operating profit to 170 million euros. While these results may not reveal the full extent of the activity of the brand owned by the French conglomerate LVMH, they do give an indication of its current dynamic performance. The Spanish company has approved the distribution of 142 million euros in dividends.

Expenses were distributed as follows: €266.9 million in procurement (+32%), €29.2 million in personnel expenses (+29%) and €238.5 million (+20.9%) in other operating expenses.

On June 3, the luxury house voted at its shareholders' meeting to distribute all of its 2022 profits in the form of dividends. To this sum was added a bonus approved at the same meeting: 15.5 million euros drawn from available resources, for a total of 142 million euros.

With Europapress