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Richemont reports sales growth of 8% for its third quarter ended 31 December 2023 at constant exchange rates
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
18 JANUARY 2024
RICHEMONT REPORTS SALES GROWTH OF 8% FOR ITS THIRD QUARTER
AND 11% FOR ITS NINE MONTHS ENDED 31 DECEMBER 2023 AT CONSTANT EXCHANGE RATES
Highlights for the quarter ended 31 December 2023
* Sales up by 8% at constant exchange rates and by 4% at actual exchange rates
to EUR 5.6 billion, notwithstanding a continued uncertain macro-economic and
geopolitical environment
* Growth across almost all regions, primarily driven by Japan, Asia Pacific and
the Americas
* Channel performance led by retail, up 11% and 6% at constant and actual exchange
rates, respectively, with increases across all business areas
* Growth across most business areas with Jewellery Maisons continuing to generate
the strongest performance (+12% and +6% at constant and actual exchange rates,
respectively)
* The Group's net cash position further improved to EUR 6.8 billion, reflecting solid
trading performance and proceeds from exercise of warrants under the 2020
shareholder loyalty programme
October-December 2023 2022 % change 2023 vs 2022
EURm constant rates actual rates
By region
Europe 1 226 1 277 -3% -4%
Asia Pacific 2 049 1 901 +13% +8%
Americas 1 355 1 320 +8% +3%
Japan 514 477 +18% +8%
Middle East & Africa 449 428 +10% +5%
By distribution channel
Retail 3 942 3 718 +11% +6%
Online retail 356 391 -5% -9%
Wholesale & royalty income 1 295 1 294 +4% -
By business area
Jewellery Maisons 3 952 3 722 +12% +6%
Specialist Watchmakers 939 952 +3% -1%
Other 702 729 -1% -4%
Total 5 593 5 403 +8% +4%
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 in
the full announcement available on the Stock Exchange News Service ("SENS") at:
https://senspdf.jse.co.za/documents/2024/JSE/ISSE/CFR/FY24Q3.pdf and on the
Group's website: https://www.richemont.com/news-media/press-releases-and-news/
This 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: 18-01-2024 08:00:00
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