Richemont's shares were little changed, edging up 0.7% after earnings as the 11% constant currency sales growth offset a modest 1% rise in operating profit and a cautious outlook tempered by nonrecurring costs.
- Sales increased 11% at constant exchange rates to EUR 22.4 billion, driven by double-digit growth in Jewellery Maisons and strong regional contributions, notably in the Americas and Middle East & Africa.
- Operating profit rose marginally by 1% to EUR 4.5 billion, incorporating EUR 164 million of nonrecurring expenses, limiting margin expansion despite strong revenue growth.
- Profit for the year increased to EUR 3.5 billion from EUR 2.8 billion, supported by disciplined cost management and robust cash flow generation of EUR 4.9 billion.
- The company invested approximately EUR 1 billion in capital expenditures, focusing on distribution and manufacturing, while allocating 9% of sales to communications.
- Regional growth was broad-based, with double-digit sales in the Americas and Middle East & Africa, and high single-digit growth across Europe, Japan, and Asia Pacific, though some moderation in Europe was noted in H2.
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