Ha_e *( DCF and valuation parameters D SOTP and segment analyses LVMH SOTP • DNE@ KGLH analqsis implies a total enterprise nalmation of Ò)(..1b in >Y).E. • The fashion and leather goods segment is the largest contributor both in terms of sales (35%) and EBIT (52%). Kales Zjeacdgon >Q).= in ÒZ! =:AL Zjeacdgon >Q).= in ÒZ! =N Zjeacdgon >Q).= in ÒZ! 1.0 7.0 17.2 0.0 106.9 11.7 36.1 1.4 15% 21.9 16% 0% 31% 3.6 0.5 20% 7.6 20% 3.5 13% 0.5 7% 13% 9.9 7% 13% 10% 3.7 4.8 10% 8% 51.5 9% 9% 13% 12.7 13% 52% 48% 35% (0.3) (0.1) (1.3) -2% -1% Fashion Perfumes Watches Wines Selective Eliminations Total Fashion Perfumes Watches Wines Selective Eliminations Total Fashion Perfumes Watches Wines Selective Eliminations Investments Total and and and and retailing and and and and retailing and and and and retailing leather cosmetics jewelry spirits leather cosmetics jewelry spirits leather cosmetics jewelry spirits goods goods goods Luxury products Luxury products Luxury products (excluding wines and spirits (excluding wines and spirits (excluding wines and spirits and selective retailing) and selective retailing) and selective retailing) Komrces2 KGLH based on EY analqsis and on the follooing brocers reports2 M:K )0 Banmarq *().!, Eacimarie Jesearch 0