LVMH CFO Jean-Jacques Guiony estimated on Thursday that the exceptional contribution requested from large companies in the draft budget for 2025 was a “tax on made in France” that “cannot be normal.”
“We are talking about 7,000 million (euro) of additional financial contribution from companies. LVMH alone is 700 million, that is, 10%, if L’Oréal and Hermès are added, we reach 20% and if Airbus is added, we reached 25%.” , declared Jean-Jacques Guiony during a round table at the economic summit organized by Challenges magazine.
“This can’t be normal.”
“25% of the total comes from four companies that have the characteristic of being exporting companies. Therefore, we can classify this tax increase as a tax on the product manufactured in France. This cannot be normal,” he stated. The “correctness” of this measure was questioned.
“It is true that the sheep next door is easier to shear than the one next door. The truth is that the sheep next door is the one that invests in France, creates jobs and pays taxes,” he concluded.
During the presentation of the LVMH group’s results in mid-October, Jean-Jacques Guiony estimated between “700 and 800 million euros” the cost for the group of the exceptional contribution requested from large companies.
Bernard Arnault’s group, which, like the rest of the luxury sector, is experiencing a slowdown in its growth in 2024, reached a turnover of more than 86 billion euros in 2023.
The Hermès group (13.4 billion euros of turnover in 2023) estimated the impact of its taxation as part of this exceptional contribution at “300 million euros” and L’Oréal (41 billion euros of turnover in 2023), at “a “. just over 250 million euros.”
Source: BFM TV
