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COMPAGNIE FINANCIERE RICHEMONT SA - Further sales growth acceleration in the third quarter ended 31 December 2021

Release Date: 19/01/2022 08:00
Code(s): CFR     PDF:  
Wrap Text
Further sales growth acceleration in the third quarter ended 31 December 2021

Compagnie Financière Richemont SA 
Depository Receipts issued by Richemont Securities SA 
("Richemont Securities" or "Richemont" or "the Company" or "the Group") 
(Incorporated in Switzerland) 
Share code: CFR 
ISIN: CH0045159024 
Depository Receipt Code: CFR


AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
19 JANUARY 2022

RICHEMONT ANNOUNCES FURTHER SALES GROWTH ACCELERATION
IN THE THIRD QUARTER ENDED 31 DECEMBER 2021


Highlights
Compared to the third quarter ended 31 December 2020:
• Strong sales, up by 32% at constant exchange rates and by 35% at actual exchange rates
• Double-digit sales growth across all regions, channels and business areas
• Strongest performance from the Americas and Europe, rebalancing regional sales mix 
• Retail and online retail, a combined 78% of Group sales, driving growth
• Excellent performance from all three business areas:
- Jewellery Maisons, with sales growth of 38% at constant exchange rates (+41% at actual exchange rates)
- Fashion & Accessories Maisons, with sales growth of 37% at constant exchange rates (+40% at actual exchange rates), sustained by Chloé, Montblanc and Peter Millar
- Specialist Watchmakers, with sales growth of 25% at constant exchange rates (+29% at actual exchange rates)

Compared to the third quarter ended 31 December 2019:
• Continued sequential quarterly growth acceleration, with third quarter sales up by 38% at constant exchange rates and 36% at actual exchange rates
• Pre-pandemic levels substantially exceeded, with sales up double digits across all regions and business areas, as well as online and offline retail channels
• Outstanding performance of the Americas, Asia Pacific and Middle East and Africa; Europe and Japan resuming growth, up double digits
• Performance led by the Jewellery Maisons (+57% and +55% at constant and actual rates respectively) with other business areas growing at or close to 20%



October-December                 2021    2020    2019      % change 2021 vs 2020         % change 2021 vs 2019
                                 EURm    EURm    EURm    constant rates  actual rates   constant rates	actual rates
By region
Europe	                        1 410     982   1 263       +42%            +44%           +12%            +12%
Asia Pacific                    2 128   1 729   1 429       +18%            +23%           +47%            +49%
Americas                        1 333     841     874       +55%            +59%           +59%            +53%
Japan                             389     335     341       +22%            +16%           +23%            +14%
Middle East and Africa            398     299     249       +30%            +33%           +65%            +60%

By distribution channel
Retail                          3 400   2 288   2 212       +45%            +49%           +56%            +54%
Online retail                   1 025     841     747       +19%            +22%           +40%            +37%
Wholesale & royalty income      1 233   1 057   1 197       +14%            +17%            +4%             +3%

By business area
Jewellery Maisons               3 343   2 366   2 162       +38%            +41%           +57%            +55%
Specialist Watchmakers            977     758     818       +25%            +29%           +20%            +19%
Online Distributors               785     668     670       +15%            +18%           +19%            +17%
Other                             610     436     522       +37%            +40%           +19%            +17%
Inter-segment eliminations       (57)    (42)    (16)      

Total                           5 658   4 186   4 156       +32%            +35%           +38%            +36%



Please contact Computershare at Web.Queries@Computershare.co.za if you wish to receive any documents electronically for Richemont.

This short form announcement is the responsibility of the directors of Compagnie Financière Richemont SA and is a summary of the information contained in the full announcement which is available on the Stock Exchange News Service ("SENS") at:
https://senspdf.jse.co.za/documents/2022/JSE/ISSE/CFR/Q3FY22.pdf and on the Group's website: https://www.richemont.com/en/home/media/press-releases-and-news/

This announcement does not contain full or complete details and any investment decision by investors and/or shareholders in relation to the Company's shares should be based on a consideration of the full announcement. The full announcement is also available for inspection, at no charge, at the Company's registered office (50 Chemin de la Chênaie, 1293 Bellevue, Geneva, Switzerland) and the office of the Sponsor during standard office hours.

'A' shares issued by Compagnie Financière Richemont SA are listed and traded on SIX Swiss Exchange, the Company's primary listing (Reuters 'CFR.VX'/Bloomberg 'CFR:VX'/ISIN CH0210483332). South African depository receipts in respect of Richemont 'A' shares are traded on the Johannesburg Stock Exchange, the Company's secondary listing, (Reuters 'CFRJ.J'/Bloomberg 'CFR:SJ'/ISIN CH0045159024).


Sponsor:
Rand Merchant Bank (A division of FirstRand Bank Limited)
1 Merchant Place, Corner of Fredman Drive and Rivonia Road, Sandton, 2196
Telephone: (011) 282 8231
Date: 19-01-2022 08:00:00
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