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New record year in 2019 for Hermès

New record year in 2019 for Hermès

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The Hermès International luxury group’s turnover reached €6.88 billion in 2019. A performance in line with the consensus established by the Factset and Bloomberg agencies.

By Luxus Plus

The Hermès International luxury group’s turnover reached €6.88 billion in 2019. A performance in line with the consensus established by the Factset and Bloomberg agencies.

 

Over the past year as a whole, the saddler and leatherworker posted net profit of €1.53 billion, an increase of 9% over one year. Current operating income also increased by 13% to 2.34 billion euros, while the current operating margin stood at 34%, compared to 34.8% in 2018.

 

Axel Dumas, the Group’s Manager, hailed “particularly remarkable performances in 2019 thanks to balanced growth in all business lines and all geographical regions” without worrying about the slight slowdown in organic growth in the fourth quarter, particularly in Asia-Pacific (excluding Japan) where growth slowed to 14.3%. “It is a little early to draw conclusions” on the consequences of the epidemic, particularly on sales, he said, adding that Hermès would have more visibility in March to measure the impact of the coronavirus on the Group’s activity.

 

Hermès confirmed that it was pursuing an “ambitious” medium-term sales growth target, despite economic, geopolitical and monetary uncertainties. The Group, which generates nearly three-quarters of its sales from leather goods (bags, luggage, accessories) and clothing, is preparing to launch its first line of luxury lipsticks next month, thus marking its entry into the cosmetics market.

 

Read also : Hermes defies hong kong turmoil as Chinese demand buoys sales

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