Hermès: double-digit growth in all regions
(CercleFinance.com) - The Group's consolidated sales amounted to E7.
5 billion in the first half of 2024, up 15% at constant exchange rates and 12% at current exchange rates compared to the same period in 2023. Second-quarter sales reached 3.7 billion euros, up 13% at constant exchange rates.
All regions reported double-digit growth in the first half. Sales in Europe excluding France (+18%) and in France (+15%) were particularly strong. Japan (+22%), with its strong local customer base, continued its strong growth. The Americas (+13%) confirmed its solid progress, thanks to continued momentum in the United States. Asia, excluding Japan (+10%), reported growth in all countries of the region.
Leather Goods and Saddlery grew by +19%, boosted by increased production capacity and particularly buoyant demand. The Clothing and Accessories division (+15%) continued its dynamic growth.
Profit from recurring operations was E3.1 billion (42% of sales), and net income (Group share) was E2.4 billion (32% of sales). Cash flow from operating activities rose by 7% to E2.2 bn.
'In the medium term, despite global economic, geopolitical and monetary uncertainties, the Group confirms its ambitious sales growth target at constant exchange rates', says management.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
5 billion in the first half of 2024, up 15% at constant exchange rates and 12% at current exchange rates compared to the same period in 2023. Second-quarter sales reached 3.7 billion euros, up 13% at constant exchange rates.
All regions reported double-digit growth in the first half. Sales in Europe excluding France (+18%) and in France (+15%) were particularly strong. Japan (+22%), with its strong local customer base, continued its strong growth. The Americas (+13%) confirmed its solid progress, thanks to continued momentum in the United States. Asia, excluding Japan (+10%), reported growth in all countries of the region.
Leather Goods and Saddlery grew by +19%, boosted by increased production capacity and particularly buoyant demand. The Clothing and Accessories division (+15%) continued its dynamic growth.
Profit from recurring operations was E3.1 billion (42% of sales), and net income (Group share) was E2.4 billion (32% of sales). Cash flow from operating activities rose by 7% to E2.2 bn.
'In the medium term, despite global economic, geopolitical and monetary uncertainties, the Group confirms its ambitious sales growth target at constant exchange rates', says management.
Copyright (c) 2024 CercleFinance.com. All rights reserved.