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Loewe reports €127 million profit in 2022, nearly double 2021 figures, and approves €142 million in dividends

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By

Europa Press

Translated by

Roberta HERRERA

Published



Nov 21, 2023

Loewe closed the year 2022 with a profit of €127.6 million, marking an 87% surge from the previous fiscal year. The brand doubled its operating profit, soaring to €170 million. Alongside these successes, Loewe has approved the distribution of €142 million in dividends.

Archive – Façade and shop windows of the Spanish luxury fashion house Loewe, in Madrid’s Salamanca district. – Europapress

The company notably increased its revenue by 37%, reaching approximately €626.2 million, coupled with a gross result of €161.6 million, marking a 92% increase from 2021, according to the records from the mercantile registry, sourced by Infoempresa and shared with Europa Press.

Regarding expenditures, the company allocated €266.9 million for provisions (a 32% increase), €29.2 million for personnel expenses (a 29% increase), and €238.5 million (a 20.9% increase) for other operating expenses.

Furthermore, the fashion house under the French LVMH holding company approved during its general meeting on June 3 that the 2022 profits be entirely distributed as dividends.

In addition to this, a supplementary dividend of €15.5 million was approved at the same meeting, to be funded from freely available reserves, resulting in a total payment of €142 million.

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