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Hermès entered the Euro Stoxx 50 index on Monday, along with Richemont.
For Hermès, it is a consecration with its inclusion in the Euro Stoxx 50 index of 50 companies by market capitalization in the euro zone. Moreover, the luxury group’s shares are on track to be the best performer in the CAC 40 for the second year in a row.
9 billion expected in 2021, Hermès will nevertheless be among the smallest companies in the Euro Stoxx 50 index. With a market capitalization of around 166 billion euros, it will be ranked fourth in a ranking clearly dominated by LVMH with its 357 billion euros.
The luxury house, which took more than 160 years to go public, saw its stock market performance increase by 80% this year, compared to a 25% gain for the CAC40. Quarter after quarter, Hermès has surprised with the strength of its growth, exceeding the most optimistic forecasts, one after another, since September 2020.
Sales for the third quarter of 2021 totaled €2.3 billion, up 31.2% against a median estimate of 22.9% calculated by Factset. According to Factset’s data, after organic growth of close to 42% in 2021, Hermès’ sales growth should return to a more normal pace over the next two years (+11.3% estimated in 2022 and +9.7% in 2023).
Hermès shares were trading at €1,543.00 this morning, up 1.18% on the CAC40.
Read also > HERMÈS AND RICHEMONT JOIN THE EURO STOXX 50
Featured photo : © Hermès[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
Hermès entered the Euro Stoxx 50 index on Monday, along with Richemont.
For Hermès, it is a consecration with its inclusion in the Euro Stoxx 50 index of 50 companies by market capitalization in the euro zone. Moreover, the luxury group’s shares are on track to be the best performer in the CAC 40 for the second year in a row.
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Hermès entered the Euro Stoxx 50 index on Monday, along with Richemont.
For Hermès, it is a consecration with its inclusion in the Euro Stoxx 50 index of 50 companies by market capitalization in the euro zone. Moreover, the luxury group’s shares are on track to be the best performer in the CAC 40 for the second year in a row.
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