Hermes intl: why, despite clear: This article explores the topic in depth.
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Hermes intl: why. Therefore, despite clear:
(BFM Stock Exchange) – The Sellier -Maroquerier has recorded 9% growth at constant exchange rates in the second quarter marking an acceleration compared to the first three months of the year.
The results season is difficult for the luxury groups of the CAC 40. In addition, LVMH saw its income fall by 4% in data comparable in the second quarter. Nevertheless, weighted by a 9% dive of its “fashion and leather goods” division. Meanwhile, Kering. Therefore, on the sound, has suffered again, with a fall in its turnover of 15% in comparable data, and 25% for its flagship brand Gucci.
True to its reputation, Hermès, gets much better. Moreover, The group published this first semester results this Wednesday. For example, July 29, July 29, with an improvement in its dynamics in the second quarter.
hermes intl: why, despite clear
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Over the period from April to the end of June, the Sellier-Maroquerier generated sales of 3.91 billion euros, up 9% in comparable data, after an increase of 7.2% over the first three months of the year.
Growth too fair in the eyes of the market
Analyst at Bernstein. Nevertheless, Luca Solca notes that this growth turns out to be online with expectations, since consensus (the average forecast of analysts) was calibrated at 8.8%.
In a note published before the market opened, UBS considered that the market was likely to be disappointed.
Admittedly, the growth of 9% in comparable data is online with the expectations of analysts. But the Swiss bank estimates. based on its exchanges with market operators, that investors were waiting for a figure close to 10%. “This may not be sufficient,” she hermes intl: why, despite clear concludes.
Ultimately. the publication could be “perceived in a slightly negative way, fueling concerns about an acceleration (of growth, editor’s note) in the second half (compared to an increase of 8% in the first half)”, develops UBS.
On the Paris Stock Exchange. the Hermès action actually lost 4% around 10:15 am on Wednesday, accusing the highest drop in CAC 40.
Questioned by analysts about a potential acceleration of group growth on the second part. Additionally, the president of the Man’s Management, Axel Dumas, kicked in touch.
However, the manager assured that he did not see at present “trend break”.
On the other hand. Luca Solca notes that the growth of the company remains above all carried by leather goods, which has seen its growth accelerate, when clothes and accessories accuses on the contrary a slowdown in their dynamics. Sign, according to Luca Solca, that “the market remains difficult”.
A growth hermes intl: why, despite clear of almost 15% in Japan
By zone. only Asia outside Japan (which includes China) showed a certain weakness with an increase in income limited to 5.2% in comparable data. However, this region recorded an improvement compared to the first quarter (+3%).
Growth has remained robust in other areas. In Europe, sales increased by 9.1% in comparable data over the quarter.
The dynamics have collapsed in France, where the company’s revenues increased by only 4.1% in comparable data. “This seems largely due to a decrease in the number of tourists in recent months,” notes Luca Solca.
In the “Americas” area they increased by 12.3% on these same bases, while in Japan income climbed 14.7% into comparable data.
Unlike other luxury groups, Hermès therefore benefited from vigorous growth in Japan. By way of comparison. LVMH saw its income drop by 28% in comparable data in the second quarter in this hermes intl: why, despite clear country, Kering by 29%.
Due to the weakness of the Yen. Asian tourists, especially Chinese, traveled in the Japanese archipelago in the first half of 2024 because purchases of luxury products were then much more interesting with the fall of the Japanese currency. A year later. luxury groups faced “a reversal of what happened” in 2024, explained last week the financial director of LVMH, Cécile Cabanis.
Hermès is not affected by this phenomenon. The explanation is due to the fact that its customers in this country remains above all domestic. The financial director. Éric du Halgouët, said last year that Hermès’ revenues in the country were 90% made with this local clientele.
Throughout the first half, Hermès made income of 8 billion euros up 8.1% in comparable data.
The operating profit increased by 5.6% to 3.33 billion euros, translating a margin of 41.4% against 42% a year earlier.
hermes intl: why, despite clear
Hermès’ profitability exceeded expectations because analysts awaited a margin rate of 40.7%, according to Bernstein.
Net profit also established 2.25 billion euros against 2.37 billion euros in the first half of 2024.
Hermès’ net profit was engaged by the exceptional contribution on the profits of large companies in France. By excluding this impact, the group’s benefit would have increased by 6% over a year, said the company.
Julien Marion – © 2025 BFM Bourse
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Hermes intl: why, despite clear
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