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Richemont reports strong performance with sales up 10% for its third quarter ended 31 December 2024
Compagnie Financière Richemont SA
("Richemont" or "the Company" or "the Group")
(Incorporated in Switzerland)
Share code: CFR
ISIN: CH0210483332
AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
16 JANUARY 2025
RICHEMONT REPORTS STRONG PERFORMANCE WITH SALES
UP 10% FOR ITS THIRD QUARTER ENDED 31 DECEMBER 2024
Highlights for the quarter ended 31 December 2024
* Very solid end to the calendar year with Q3 sales up by 10% at constant and
actual exchange rates
o Highest ever quarterly sales at € 6.2 billion
o Double-digit growth in the Americas, Europe, Middle East & Africa and Japan;
slower decline in Asia Pacific despite still challenging demand in China
o Marked improvement over H1 across all business areas, driven by an
acceleration at Jewellery Maisons to +14%; Specialist Watchmakers at -8%,
'Other' at +11%, including Fashion & Accessories Maisons at +7%
o Channel performance led by retail, up 11% at constant and actual exchange
rates
* 9-month sales at € 16.2 billion, +4% at constant and +3% at actual exchange
rates, in a context of continued investments into the Group's Maisons' long-term
growth prospects
* Robust net cash position at € 7.9 billion
October-December 2024 2023 Movement at:
EURm constant rates actual rates
By region
Europe 1 456 1 226 +19% +19%
Asia Pacific 1 913 2 049 -7% -7%
Americas 1 647 1 355 +22% +22%
Japan 592 514 +19% +15%
Middle East & Africa 542 449 +20% +21%
By distribution channel
Retail 4 382 3 942 +11% +11%
Online retail 419 356 +17% +18%
Wholesale & royalty income 1 349 1 295 +4% +4%
By business area
Jewellery Maisons 4 501 3 952 +14% +14%
Specialist Watchmakers 867 939 -8% -8%
Other 782 702 +11% +11%
Total 6 150 5 593 +10% +10%
Please contact Computershare at Web.Queries@Computershare.co.za if you wish
to receive any documents electronically for Richemont.
This results announcement is the responsibility of the directors of Compagnie
Financière Richemont SA and is a summary of the information in the full
announcement available on the Stock Exchange News Service ("SENS") at:
https://senspdf.jse.co.za/documents/2025/JSE/ISSE/CFR/FY25Q3.pdf and on the
Group's website: https://www.richemont.com/news-media/press-releases-and-news/
This results announcement does not contain full 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.
Richemont 'A' shares issued by Compagnie Financière Richemont SA are listed and
traded on the SIX Swiss Exchange, Richemont's primary listing
(Reuters 'CFR.S' / Bloomberg 'CFR:SW' / ISIN CH0210483332). They are included in
the Swiss Market Index ('SMI') of leading stocks and the MSCI Switzerland IMI
ESG Leaders Index. The 'A' shares are also traded on the Johannesburg Stock
Exchange, Richemont's secondary listing
('CFRJ.J' / Bloomberg 'CFR:SJ' / ISIN CH0210483332).
Sponsor:
Rand Merchant Bank (A division of FirstRand Bank Limited)
1 Merchant Place, Corner of Fredman Drive and Rivonia Road, Sandton, 2196
Email: sponsorteam@rmb.co.za
Date: 16-01-2025 08:00:00
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The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
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