Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Euronext Paris  >  LVMH Moët Hennessy Vuitton SE    MC   FR0000121014

LVMH MOËT HENNESSY VUITTON SE (MC)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

LVMH : Italy Tax Police Seize Assets in Bulgari Tax-Evasion Probe

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/14/2013 | 05:56pm CEST

By Manuela Mesco

MILAN--Italy's tax police said Thursday they seized 46 million euros ($59.6 million) worth of assets owned by Bulgari's acting chief executive and its chief operating officer, and two shareholders in the luxury jewelry brand, as part of an investigation into suspected tax evasion totaling that amount.

In a statement, the tax police said the assets are owned by acting CEO Francesco Trapani, who is also head of the watch and jewelry division of controlling company LVMH Group; Paolo and Nicola Bulgari in their capacity as shareholders, who are chairman and vice chairman of Bulgari; and COO Maurizio Valentini. The tax police suspect them of being responsible for tax avoidance in Italy on a total of EUR3 billion in revenue from 2006 to 2011.

In an emailed statement Thursday Bulgari denied the allegations and said that the company will take all necessary actions to clarify its position before the authorities. The company said the four people named by police won't be speaking to the press for now and that the company's statement is also the official position of the four. Attempts to reach the people directly weren't successful.

According to the tax police, the four allegedly used ad hoc trading companies registered in countries such as Switzerland, Ireland and the Netherlands to pay lower taxes than would be payable under Italy's tax laws. The tax police consider the procedure irregular because the revenue was allegedly generated in Italy, and thus the tax on it should have been paid in Italy, they say.

The tax police said they have a nine-page document in which they say Bulgari executives described the moves as an "escape strategy" adopted after new Italian tax rules were introduced in 2006.

Bulgari responded in its statement that "the foreign companies at issue are real and genuine companies performing an indisputable strategic role for the group."

Bulgari, an Italian jeweler founded in 1884, was sold to LVMH Group in 2011 for EUR4.3 billion.

Write to Manuela Mesco at [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LVMH MOËT HENNESSY VUITTON
04/20LVMH MOËT HENNESSY VUITTON : April 20, 2018 New Curiosity Shop, the art of wonde..
PU
04/20LVMH MOËT HENNESSY VUITTON : April 20, 2018 New Curiosity Shop, l’art de l..
PU
04/20LVMH MOËT HENNESSY VUITTON : Nine-seat Japanese restaurant opens in Bvlgari Hote..
AQ
04/19DENTSPLY SIRONA : Patent Application Titled "Dental Composition" Published Onlin..
AQ
04/19LVMH MOËT HENNESSY VUITTON : The Bvlgari Resort Dubai unveils unique Ramdan offe..
AQ
04/19CHRISTIAN DIOR : Qatar Duty Free opens Maison Christian Dior Boutique at HIA
AQ
04/19LVMH MOËT HENNESSY VUITTON : QDF launches Maison Christian Dior Boutique
AQ
04/18LVMH MOËT HENNESSY VUITTON : April 18, 2018 Veuve Clicquot celebrates 200th anni..
PU
04/17LVMH MOËT HENNESSY VUITTON : April 17, 2018 Guerlain celebrates 190 years of cre..
PU
04/17LVMH MOËT HENNESSY VUITTON : B.C. author continues book tour
AQ
More news
News from SeekingAlpha
04/13Louis Vuitton (LVMUY) Investor Presentation - Slideshow 
04/10Louis Vuitton (LVMUY) Q1 Sales Call - Slideshow 
04/10Winners and losers for teenager attention 
04/09Strong quarter from LVMH 
04/09LVMH-Moet Hennessy Louis Vuitton reports Q1 results 
Financials (€)
Sales 2018 45 862 M
EBIT 2018 9 237 M
Net income 2018 5 759 M
Debt 2018 5 045 M
Yield 2018 2,01%
P/E ratio 2018 24,47
P/E ratio 2019 22,42
EV / Sales 2018 3,19x
EV / Sales 2019 2,93x
Capitalization 141 B
Chart LVMH MOËT HENNESSY VUITTON
Duration : Period :
LVMH Moët Hennessy Vuitton Technical Analysis Chart | MC | FR0000121014 | 4-Traders
Technical analysis trends LVMH MOËT HENNESSY VUITTON
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 287 €
Spread / Average Target 2,8%
EPS Revisions
Managers
NameTitle
Bernard Arnault Chairman & Chief Executive Officer
Antonio Belloni Group Managing Director & Director
Jean-Jacques Guiony Chief Financial Officer
Delphine Arnault-Gancia Director
Antoine Arnault Director
Sector and Competitors
1st jan.Capitalization (M$)
LVMH MOËT HENNESSY VUITTON SE13.79%173 295
VF CORPORATION5.11%30 744
THE SWATCH GROUP17.54%25 851
HENNES & MAURITZ-21.76%22 911
LULULEMON ATHLETICA INC.22.55%13 046
PVH CORPORATION16.23%12 269