Hermès confirms its medium-term objectives after a jump in sales in the 1st quarter


PARIS (Agefi-Dow Jones)–The luxury group Hermès confirmed its medium-term outlook on Thursday, after seeing its revenues jump in the first quarter, thanks to “strong momentum” in all of the group’s businesses in all geographic areas.

The group confirmed its “ambitious objective of increasing turnover at constant exchange rates” in the medium term, “despite the economic, geopolitical and monetary uncertainties in the world”, Hermès said in a press release.

Regarding the 2022 financial year, Hermès reiterated that it was “still difficult to assess the impacts” of the health context. However, “the strongly integrated artisanal model, the balanced distribution network, the creativity of our collections and the loyalty of our customers allow us to approach the future with confidence”, underlined the group in a press release.

Over the first three months of 2022, the saddler achieved a turnover of 2.77 billion euros, up 32.7% year on year in published data and 27.1% at constant exchange rates .

According to the consensus established by Factset, analysts anticipated a turnover of 2.48 billion euros, on average, in the first quarter.

In Asia-Pacific excluding Japan, quarterly sales climbed year-on-year by 28% as reported and 19.8% at constant exchange rates, to reach 1.45 billion euros. In Japan, they increased by 17.4% in organic data, to 277 million euros. Revenue in the Americas region jumped 44.2% at constant exchange rates, to 449 million euros.

In China, activity at the start of the year was “exceptional” despite the resurgence of Covid-19 in the country in March, said Hermès’ financial director, Eric du Halgouët, during a conference call with officials. journalists. The group’s three stores in Shanghai are currently closed, but two other Chinese stores, which closed their doors in mid-March, have reopened, said the manager, adding that Hermès has 26 stores in China.

In France, sales increased by 39.7% over one year, to 214 million euros. In the rest of Europe, sales climbed 43.9% year on year at constant exchange rates, to 327 million euros. In Europe, including France, sales benefited in particular from a favorable comparison base.

In the rest of the world, Hermès’ revenues reached 51 million euros in the first quarter, up 24.7% year on year at constant exchange rates.

-Alice Doré, Agefi-Dow Jones; +33 (0)1 41 27 47 90; [email protected] ed: VLV

HERMES INTERNATIONAL FINANCIAL RELEASES:

https://finance.hermes.com/fr/publications/

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April 14, 2022 02:07 ET (06:07 GMT)



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